Panchkula: Respite for buyers of auctioned properties

Sanjay Bumbroo

Panchkula, December 2

In a major relief to the purchasers of auctioned properties, the Haryana Shehri Vikas Pradhikaran (HSVP) has amended the constructed and occupied institutional buildings transfer policy. Now, there would be no requirement for the purchaser to obtain no objection certificate (NOC) from the estate agency.

A senior official of the HSVP said now, the purchasers would not have to obtain the NOC in respect of allowing the transfer of institutional plots sold through auction under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest-2002 (SARFAESI) Act.

Policy amended

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• A senior official of the HSVP said now, the purchasers would not have to obtain the NOC in respect of allowing the transfer of institutional plots sold through auction under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest-2002 (SARFAESI) Act.
• The policy regarding the transfer of institutional buildings or sites allotted, constructed or occupied by the HSVP to all zonal administrators of the agency and all estate officers of the state had been changed.

The official said the policy regarding the transfer of institutional buildings or sites allotted, constructed or occupied by the HSVP to all zonal administrators of the agency and all estate officers of the state had been changed. These include societies not engaged in research and development, education and training, business offices other than groups or associations, commercial and manufacturing activities, corporate offices and other institutional users.

In cases where institutional plots have been auctioned under the SARFAESI Act 2002, including court auction or DRT, transfer will be permitted subject to terms and conditions. It may be noted that thousands of such cases are pending with the HSVP in which the NOC was considered necessary while transferring the resumed property. This is the reason that at the time of auction for transfer under the SARFAESI Act, the demand for the NOC was not met and the matter kept hanging fire for several years.