NOC From+Builder for New+Home+Loan Final (1)

Draft of NOC to be obtained from
the Builder on his letter-head
Date :
Place :
To,
ICICI Bank Limited
Dear Sir,
Re :Permission to mortgage flat no. .......... on the ...... floor of the building proposed to be
named as / named as ......................................................................................... situated
at .....................................................................
1) This is to confirm that we have allotted/sold flat no. ............. admeasuring ......................
sq. ft. (carpet/built-up area) on the ............. floor of the building proposed to be named
as / known as ....................... situated at ...................................... which is under
construction / constructed by us to
Mr./Mrs./Ms. ........................................................ ............................................. for a total
consideration of Rs. ....................... (Rupees ........................... only) under an Agreement
for Sale/Sale Deed dated .......................
2) We confirm that we have obtained necessary permissions/approvals/sanctions for

construction of the said building from all the concerned competent authorities and the
construction of the building as well as of the flat are in accordance with the approved
plans. We have a clear, legal and marketable title to the said property and every part
thereof
A. We assure that the said flat as well as the said building and the land
appurtenant thereto are not subject to any encumbrance, charge or liability of
any kind whatsoever and that the entire property is free and marketable.
or
B. We have availed construction finance facility from ___________________and
release of charge letter shall be provided subject to the sale proceedings
being deposited in the mandated ESCROW Account,..
3) Mr./Mrs./Ms. .................................................................. has paid an amount of Rs.

........................................ (Rupees ............................................................... only) and a
sum of Rs. ) Rupees .................... .................................................. only) remains to be
paid towards the cost of the said flat.
4) Possession of the said flat has already been given/will be given to Mr./Mrs./
Ms. .................................................................... We will ensure that occupancy
certificate/project completion certificate is shared immediately with ICICI Bank once the
same is granted to us by the competent authority on successful completion of project.
5) We are aware that the said Mr./Mrs./Ms. ...................................................................... has
approached ICICI Bank Ltd for a loan for purchasing/acquiring the said flat and that ICICI
Bank Ltd has agreed to sanction/grant the loan to
Mr./Mrs./Ms. ...................................................................... to purchase / acquire the above
flat and Mr./Mrs./Ms. ...................................................................... has agreed to
mortgage the said flat in your favour / in favour of your security trustee as security for
the said loan. We hereby confirm that we have no objection to
Mr./Mrs./Ms. ...................................................................... mortgaging the said flat to your
Company / in favour of your security trustee by way of security for repayment of the said
loan.
AND notwithstanding anything to the contrary contained in the said Agreement for Sale,
we hereby agree to note the aforesaid charge in our books in respect of the said flat and
Mr./Mrs./Ms. ...................................................................... will not be permitted to
transfer, assign, sell off / cancel or in any other way / manner deal with the said flat
prejudicial to the interest of the aforesaid mortgagee without the prior written consent of
the aforesaid mortgagee.
6) We undertake to form a Co-operative Society / Condominium under the Apartment

Ownership Act of the premises/flat holders in the aforesaid building within the statutory
period. And we agree to inform and give proper notice to the Co-operative
Society/Condominium as and when formed, about and said unit/flat being so mortgaged
to your Company / the security trustee nominated by your Company.
7) " We further agree that in case the Agreement for sale of the flat/premises executed
between ourselves and Mr. xxx is terminated or otherwise the flat / premises purchase
transaction is cancelled on account of non-payment of own contribution or for any reason
whatsoever, then your bank shall have priority over the sum or sums of money advanced
to xxx and xxx and paid to us, and we hereby undertake to forthwith refund to you
without demur, such sum/sums of money paid to us".
8) We further agree and confirm that the Bank reserves the right to visit the above
mentioned property being mortgaged to the bank whenever applicable for recovery of
dues related to loans borrowed from ICICI Bank.
9) We further agree to inform ICICI bank in case we shall avail a construction finance from
any of the financial institutions in future to fulfill financial requirement to carry out the
construction and related activities in the said project.
10) In case of material changes like Project Name, RERA completion timelines, Account
favoring details for disbursement, Project Layout , Project Funding, numbering of units for
sale in the sale plans/Approved Plan ,Authorized Signatories etc, we will inform the same
to ICICI Bank along with the reason for change
11) We will ensure that occupancy certificate/project completion certificate is shared immedi-
ately with ICICI Bank once the same is granted to us by the competent authority on suc -
cessful completion of project.
Yours faithfully,
For ...................................... (Builders)
Signatures
Note :
This NOC is to be signed on behalf of the Builders by the same persons who have signed
the Agreement for sale in favour of the Purchaser/s (Borrower/s) or any person
authorised by the Builders to sign on their behalf.

NOC From+Builder for New+Home+Loan Final (1)

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NOC From+Builder for New+Home+Loan Final (1)

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Draft of NOC to be obtained from

the Builder on his letter-head

ICICI Bank Limited

2) We confirm that we have obtained necessary permissions/approvals/sanctions for

3) Mr./Mrs./Ms. .................................................................. has paid an amount of Rs.

6) We undertake to form a Co-operative Society / Condominium under the Apartment

For ...................................... (Builders)

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