Chandigarh Administration Removes NOC Requirement for Property Registration in Freehold Co-Op Housing Societies

The Chandigarh administration has abolished the mandatory requirement for obtaining a No-Objection Certificate (NOC) from the office of the Registrar of Co-operative Societies (RCS) before registering property in these societies. This significant policy change, approved by UT Administrator Gulab Chand Kataria, is expected to streamline the process of transferring property ownership and reduce delays for buyers and sellers in these societies.

Prior to this change, property transactions in freehold co-operative housing societies in Chandigarh required individuals to obtain an NOC from the Registrar of Co-operative Societies before executing legal documents, such as sale deeds, gift deeds, family transfer deeds, and mutual transfer deeds. This step was necessary for the registration of property rights for residential units within these societies.

The NOC process caused significant delays in property ownership transfers. Buyers and sellers had to obtain approval from the RCS, which was seen as time-consuming and cumbersome. This delay in property transfers frustrated residents and prospective buyers, especially in a growing city like Chandigarh, where real estate demand is high.

The recent decision to eliminate the requirement for an NOC has been welcomed by the residents of these societies. According to the administration's announcement, the decision will significantly expedite the process of registering property rights and facilitate smoother transactions for individuals looking to buy, sell, or transfer property within the 68 freehold co-operative housing societies in the city. These societies collectively house nearly 4,000 flats, with a growing number of residents seeking to trade or transfer ownership of their properties.

By removing the NOC requirement, the UT administration aims to simplify the process of property registration, enhancing convenience for both sellers and buyers. The move is expected to reduce the bureaucratic burden and cut down on unnecessary delays, which had previously been an obstacle in the property transfer process.

For the residents of these freehold co-operative housing societies, the policy change is a long-awaited relief. The elimination of the NOC requirement will allow for quicker execution of sale deeds and other important documents, ensuring that property transactions are not delayed by administrative processes. In the past, delays in securing the NOC from the RCS had often caused frustration, and the new policy will help eliminate that hurdle.

Moreover, the change is likely to benefit the overall real estate market in Chandigarh, as the process for transferring property ownership becomes faster and more efficient. The ability to register property rights more quickly can encourage both existing residents and potential buyers to engage in property transactions with greater confidence.