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Funds released by banks when building has no occupancy certificate
13-Mar-2023 (In Banking / Finance Law)
Society, 250 flats, 30 yrs old, 90% owned by Canara Andhra Syndicate Banks rest private owner. Lift, Fire safety violations, huge property and water tax dues, Garage space encroachd and used commercial y, Banks in connivance with committee releases huge funds, no OC No Convayance..wrote Dy Register,Municipal,Fire,but did nothing but only issue notices.total irregularities. Mumbai. It is also strange how release funds when buildings no Occupation Certificate and Conveyance?
For giving proper advice I need to go through the relevant information and documents. However you will have file a proceedings before co operative court or before appropriate court of law. After going through the documents then suitable advice can be given to you.
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Adv. Alim Husen Patel
Pune | 25+ Answers
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How do I get into the OC for an old building?
The developer must submit a few vital documents to receive the OC. These include the copy of the building sanction plans, the commencement certificate, the no-objection certificates (NOCs) from the Fire Department, the Pollution Control Board, and the Airport Authority if the property lies near the airport.
Can we get home loan without OC?
A bank or housing finance company will require the Occupation Certificate before they can extend a loan. If the buyer wants to apply for a home loan in order to purchase the property, the Occupation Certificate is required.
How many buildings without OC in Mumbai?
Ashish Shelar, a BJP MLA in Mumbai, said that there are at the very least 20,000 Mumbai buildings without OC. The civic administration punishes residents of buildings that have no or only partial OC by making them pay twice as much in water and sewerage charges and taxes. 23-Mar-2022
What happens if there is no OC?
The municipal corporation will not provide water, electricity or sanitation to a house without an OC. To prevent future disasters, the building must be declared as "not a fire risk". The OC must also be provided when applying for loans with banks or other financial institutions.
Dear Client,
With the explanation given by you about the irregularity what is your expectation? Do you plan to sue the bank and the society stake holders? If that is the case, then approach some good Advocate for proper consultation. Post referring your documents, future steps can be advised.
Justice takes time but you can be rest assured, IT WILL BE DELIVERED.
EXPERT JURIST LLP
With the explanation given by you about the irregularity what is your expectation? Do you plan to sue the bank and the society stake holders? If that is the case, then approach some good Advocate for proper consultation. Post referring your documents, future steps can be advised.
Justice takes time but you can be rest assured, IT WILL BE DELIVERED.
EXPERT JURIST LLP
Helpful?
17+
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Adv. JV Bhosale
Mumbai | 400+ Answers
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