I am purchasing a resale property in a co op hsg soceity. The soceity is refusing to give me a NOC to mortgage favouring the financier stating that since their soceity is an old soceity 1)they may in the near future negotiate and may consider redevelopment 2) Any such loans would hinder their redevelopment plans.
Need to know can a soceity refuse NOC on the above 2 points and what action can be taken against the soceity on the above issue>
Asked on 10/29/12, 2:02 am
2 Answers from Attorneys
Sanjay Kalra
Sanjay Kalra & Associates
NO. Please check Sanjay Kalra and Associates on the internet to know more about our law firm and the legal services we are rendering for our clients from all over the World.
Answered on 10/30/12, 12:26 am
Shrichand Nahar
S.V.Nahar, Advocate
Society may not refuse NoC, but may give conditional NoC
One may take actions in accordance with law.
Answered on 11/19/12, 9:25 pm
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