Buying A Property? Know The Importance Of No-Objection Certificate

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The home buying process is more complicated than you think. You have to consider various important aspects. One of them is documentation. Few of the common documents you need to hassle-free the home buying process are the Sale Agreement, Title Deed, Commencement Certificate, and No Objection Certificate.
If you don’t know their importance, visit a reputable real estate company in Jaipur. Real estate agents link the buyer and seller, responsible for negotiating the sale and terms between both parties. They also have the necessary experience associated with the home buying or selling procedure and paperwork.

Importance Of NOC When Buying A Home

The No Objection Certificate or NOC is very important for both the home buyer and the real estate developer. It indicates that the property they are dealing with is free from any legal hassle. During land registration, the NOC allows the government to keep a check on the growth of illegal colonies.

3 Situations When You Need The No-Objection Certificate

It is the responsibility of the developer to gather the certificate from almost 19 departments before they start constructing the project. A few popular departments are fire, electricity, airport authorities, water, and environment, among others. The developer will start constructing your dream home after gathering all the clearances. Some developers prefer single-window clearance as taking approval from so many departments is quite time-consuming and delays the project.

You need the NOC even when investing in a resale property. The buyer has to take it from society if there is a transfer of property. The buyer can have better peace of mind, ensuring that the seller does not have any dues on the property. It will also act as an induction for you and introduce you as a member of the Residents Welfare Association.

You will also need a NOC if you are considering a home loan. In such circumstances, you have to obtain the certificate from your bank. If you transfer the loan or close it, you have to take a NOC from that bank. It states that you have paid all the remaining dues. You can obtain it from the lender once the loan has been paid off completely.

Tips To Check The Authenticity Of The Document

Since you now know why the no-objection certificate is so important, it’s time you get in touch with experienced real estate service providers at Search Abode. They have established a stable reputation in the real estate market and can ease the selling and buying. They also provide rental services, property sale and purchase, interior designing, and construction services.