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Home / Legal / Documentation / I m buying Mahada property from byculla the building has completed 15years but as I need the loan frm Bank it says tht they need Mahada NOC which owner doesn't have society gives the NOC so should I go for that flat loan can b dome through co operative Bank but not National Bank. So please guide me
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I m buying Mahada property from byculla the building has completed 15years but as I need the loan frm Bank it says tht they need Mahada NOC which owner doesn't have society gives the NOC so should I go for that flat loan can b dome through co operative Bank but not National Bank. So please guide me

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1 2021-09-02T14:12:15+00:00
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I believe you should get the NOC from the housing society. MHADA property transfer documents list entails this as well. It clearly states that the buyer must obtain NOC from the housing society.  Once you have obtained all the documents, you can apply for the loan. Some banks offer special rates of interest for MHADA houses.

In 2017, I believe a report came in the Hindustan Times which stated that the state cooperative housing societies, chairman and the secretary must issue NOCs within 7 days in emergency cases or else NOC could be sanctioned in the next committee meeting. So it should be comparatively easy to get the NOC as opposed to the previously followed procedures.

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