(On Stamp paper of Rs.

100)
To:
Hon. Secretary,
Cooperative Housing Society Ltd
Declaration of Undertaking
I, ________________________________, am in the process of purchasing a property,
Flat No. ______ Building _____ in the Society, for which I wish to avail loan from
Bank/financial Institution.
For availing of loan facility, Bank/financial Institution insisting for NOC from
Society in their prescribed format, Society has conveyed that they are not able
to comply with the wordings prescribed by the Bank/Financial Institution.
Considering the fact that the Bank/Financial Institution is not agreeing to NOC
wordings of Society and Society having problems in issuing NOC as desired by
Bank/Financial Institution, the way forward is for the transferee of the
property( i.e. new buyer) to give undertaking to Society that if any claim comes
on Society from Bank/Financial Institution linked with NOC in Bank/FI
format, then the transferee of the property ( i.e. new buyer) undertakes to
indemnify the Society for all loss and charges suffered/to be suffered by the
Society.
In view of above, I __________________________________________, declare the
following:
(a) that should the Society face any claims/legal issues with respect to the
NOC, I will be personally be liable so that Society is paid all amounts of loss
suffered/ to be suffered by it.
(b) that the standard wordings of NOC of Society (as laid down below) has been
conveyed to the Bank/Financial Institution to which they have not agreed.
Signature: ______________________
Date: __________________________

Place: ___________________

Standard NOC of Society in case of property transfers

(On Societys letter-head)
The Society has no objection in transfer of ownership of property flat no.
_______ in Building ______ in the Society as all the dues of the transferor
member owed to the Society as on ________ has been cleared. Society is not
responsible for any other dues/financial obligations of transferor or of
transferee (new member) to any other person.

This NOC is valid for 1 month from date of its issue.

Date of issue of NOC by Society ______
Signature of Secretary _______________