Mortgage of redevelopment property
I was a tenant in a old building in south Mumbai, currently my building is under redevelopment & has completed 90% of its work. I wish to mortgage my new flat for financial purpose now. Some non banking financial companies are willing to mortgage my flat under this situation, but are stucked under one clause mentioned by MAHADA in the NOC issued to The builder.
Clause is as :- After Issue of this NOC & till giving possession of tenements to the original occupiers in the new building, Sale/transfer of tenancy rights by any of the original occupiers to any one shall not be allowed under any circumstances. Rehab tenements shall not be transferred for a period of Ten years from the sate of occupation. Restriction on transfer of tenements shall be governed by provision of rent control act till COOP.society is formed and after the same shall be governed by the provision of Maharashtra co-op. Society's ACT.
My Queries:- Is there any way that I can mortgage this flat now?
If yes what is the process I should adapt & whim should is approach for it?