Denial of NOC for Home loan by Housing society secretary in the pretext of redevelopment
Hello,
We have recently received a verbal communications from our housing society secretary about denial of the issuance of NOC from society for the purpose of Home loan transfer. We have received a HL sanction from a new lender offering better interest rate of our existing home loan on the same property purchased couple of years ago. The sanction from the lender was only issued adhering to all the legal verifications and valuation based on buildings current state after several visits. Lender has asked us to provide the NOC from society indicating there are no dues on the current building, and several other points indicating the ownership of our flat. Similar document was also provided by then secretary to our old lender without any concern.
At the time of purchase of this property, society was considering the initiate the redevelopment. Till today talk with prospect builder is ongoing, but society members have not signed any DA agreement, nor have come to finalizing terms with builder. Though there is some progress in redevelopment of society is that the architect is appointed, builder has been selected through the tender process. Current status of the redevelopment is that several plans for the redevelopment has been issued to society which haven't been approved by the majority, and backend forth communication is ongoing.
The newly appointed secretary of the society is denying to issue the NOC in the lender provided standard format in the pretext of the society will go in redevelopment in future. Secretary is asking for a written confirmation from lender about the knowledge of the redevelopment plans, which in my opinion has nothing to do with the NOC.
Not submitting the NOC within the stipulated time period set by the lender could lead into financial loss. I would really appreciate any feedback on this matter. Thanks.