Is Mortgae NOC Mandatory by CIDCO if the Conveyance Deed is Done and the Society is Formed?

As per my understanding, obtaining a No Objection Certificate (NOC) from CIDCO is typically necessary when you want to mortgage a property. Here are some key points:

1. Conveyance Deed and Society Formation:

   • When the

     conveyance deed

     (also known as the

     deemed conveyance

     ) is executed, ownership of the land or property is transferred from the builder or landowner to the housing society or the legal body of flat buyers.

   • The conveyance deed ensures that the society becomes the rightful owner of the land or property.

2. CIDCO NOC for Mortgage:

   • If you plan to mortgage your property (such as a flat or villa house), you’ll need a

     NOC from CIDCO

     .

   • This NOC confirms that there are no pending dues or legal issues related to the property.

   • The lender (bank or financial institution) typically requires this NOC before disbursing the loan.

3. Documents Required for CIDCO Mortgage NOC:

   • To apply for the CIDCO NOC, you’ll need to provide several documents to your lender:

     • Foreclosure letter
     • Identity proof
     • Title deed
     • Application form
     • Repayment receipts

       , among others.