What is mortgage consent
Permission to mortgage consent refers to the official approval required by property owners like MIDC, CIDCO, MHADA or any other from the relevant Gov authorities to mortgage their property. This authorization is essential to avoid legal complications and to facilitate a seamless mortgage process. The process typically entails the submission of specific documentation and adherence to regulatory requirements.
For instance, in cases where a lease deed grants the lessor permission, the lessee may be obligated to obtain the lessor’s consent before mortgaging the property. In restricted lease agreements, mortgaging the property without the lessor’s permission may constitute a violation of the lease terms.
MIDC Mortgage consent Documents Required
Application for Grant of Permission for Mortgage:
Lease Documents: Registered Lease Deed and any proof of registration.
Loan Sanction Letter: A certified copy of the detailed loan sanction letter from bank, specifying the plot number Amount Date and Bank Stamp with authority signature.
3 Stamp paper Each Rs 100 for Try party agreement
Other Documents: on a case-to-case basis, additional documents may be required.
Certificate for shareholding pattern (if applicable)
Authorization letter for the applicant
Copy of Board Resolution (if applicable)
Permission from sister concern company (if applicable)
Water Bill payment receipt
Lease rent receipt
Other documents can ask by the MIDC office case to a case basis
Regards,
9819992310 – Sushant
9819997500 – Atul
One Stop Industrial Property solution.
help@midcwala.com
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