Types Of No Objection Certificate For Building Construction

A no objection certificate for building construction is a document that is required for a person who wants to construct a building in any locality. This document is an agreement between the builder and the relevant government authorities to start the construction work. But it is not necessary only government NOC is enough for construction. Different types of NOCs need to be taken before starting the construction work. What are these types of NOCs? Let us find out. 

Types of NOCs for Building Construction

• NOC from Society or Builder- This type of NOC works when you want to sell properties, you should have NOC from a builder or society. This proves that you are an official member of society. Also, without NOC banks will not support any plans like loans and EMI.

• NOC from Mortgagee- Big construction projects procure finances from banks and private finance institutions by mortgaging themselves as a guarantee. This requires a NOC from the builder so that the bank cannot question the transaction for that particular mortgaged project.

• NOC as per RERA- This no objection certificate for building comes into the picture when a builder wants to transfer the right to a third party for whatever reasons. In this case, the majority of allottees of properties need to agree on the terms and pass the NOC. Then the same document will be passed according to section 15 under Real Estate Regulation Act authority.

• NOC from Collector- As the control officer of a district, a NOC is required from the collector. This is is because mortgaging, property transfer, and lease of property require to be under the information of the collector.

• NOC of Court by Administrator- According to section 307 under the Indian Succession Act, 1925 any builder or administrator cannot exchange, sell, buy, or mortgage a non-moveable property without prior permission from the court. Also, an administrator cannot hold the lease of a property for more than 5 years.

Summary

At last, we can say that for avoiding an invasion of building construction regulations NOC should be taken and GRC India can help you to get it done as soon as possible. Apart from NOC GRC also can help in getting statutory approvals in construction and many services like these. To know more please visit www.grcindia.net today.