Q:
In ACE platinum builder is not providing NOCs to the flat owners. Without NOCs owners can not sell their units.
One of my friend contacted to the ACE group for the NOC and the spokesperson said that they will not provide NOCs till all the available units are not sold.
So in this condition you can not sell your flat event if it very much urgent for you to sell. So for those who purchase flats in the ACE platinum for investment purpose their investment is kind of stuck for next two-three years.
Hi Nishant,
Is there any clause which says that you will not get NOC till sell out of all available units? I think at least once you should visit the developers office and ask for the NOC. If you are not getting any positive feedback from them then consult a legal expert and send builder a notice.
Even after you do that, what is the guarantee. Why not try and push forward the case as has been done by Amrapali recently and UP govt has pitched in to save the buyers. What about the provisions of Real Estate Bill. The problem is that all buyers are not coming together to put across their concerns to the authorities for a strict action in the event of default. All agreements are one sided with no relief to buyer. We have been paying through our nose for no fault of ours and then the wait and unanswered delays have added to misery and loss of opportunity cost whereby one could have purchased a ready to move in flat and the derive benefit of appreciation. Also you have lost on the Lease Period which is effective from 2011, and 6 years are already eaten into the lease period of 90 years. Buyers should also press for converting this property into freehold. Why hold onto British legacy after many years of Independence.
25th April 2016
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