Eliminating the hurdles from the real estate project management journey is a smart approach. It is evident that fraudulent practices, delayed project completion, expense management, and disputes related to ownership have breached the trust of buyers. Generally, these issues have been prevalent when the unregistered or non RERA-compliant projects are invested in. However, it’s time to act smart, understand the relevance of due diligence for a real estate project. After ensuring the compliance of the project with RERA guidelines, ensure transparency between the builder and the investor.
Hence, uncovering the RERA approval & licensing process and its essential components is a must to make residential or commercial investments secure. This is precisely where RERA consultancy in India focuses on a detailed documentation of the real estate project. It is no less than a tier-wise verification before the submission of the project for RERA approval. From ensuring the accuracy of information and the important highlights, provisions, timeline, and escrow account, a comprehensive due diligence of the land altogether contributes to the documentation of the project. In this entire journey, the NOC or No Objection Certificate is a crucial document that cannot be overlooked. It serves as proof of compliance with the legal guidelines, regulatory compliance, and smooth ownership transfer.
Keeping in mind the intricacies of approval & licensing, the top RERA consultants in India create a framework that includes the strategic project management, urban planning due diligence, land verification,project registration and obtaining NOC. With the step-by-step NOC issuance, the protection of stakeholders interests is achieved by the RERA consultants.
NOC: A legal shield for hassle-free real estate transaction
Imagine the wrath of disputes related to land with uncleared title causing interruption in the project management! The worst nightmare could also lead to annoyance after the project completion as the builder skipped the NOC approval! To be on a safer side, you need to partner with the best RERA consultancy in India, and remove all the barriers related to legal & regulatory compliance.
Here’s how issuance of NOC can make real estate transactions transparent and free of legal disputes.
NOC document specifies no objections and makes real estate transactions legitimate. It is a pivotal document to ensure the transfer of property is legally compliant according to RERA guidelines. As a part of approval & licensing process, NOC is required during the sale/purchase of property, construction, or real estate project management to ensure transparency. The No Objection Certificate gets issued to the builder after the legal checks related to the project. The process includes the identification of the issuing authority, property type assessment, filing of NOC application, and compilation of a list of documents to be submitted. RERA consultants guide clients in making this process seamless.
After the fee payment and verification of the submitted documents, the NOC is issued. However, it is ensured that no legal disputes related to the property will arise after the land possession. It is wise to get the NOC addressed through seasoned RERA consultants to avoid financial loss and irreparable damage to reputation. In simple words, when a lack of transparency, project delay, or any other discrepancy is noticed in the real estate project, the client may claim compensation. Additionally, several penalties related to non-compliance can be levied on the developer.
Not sure how to get NOC issued? Connect with V3 Infrasol today, and get comprehensive assistance for obtaining NOC for the real estate project.
At V3 Infrasol, we back you with extensive support, updated resources, and legal & transaction advisory for strategic project management. We abide by the latest RERA guidelines for the issuance of NOC!
