JCT Associates Pvt. Ltd.

Updation of Loan Details of New Members in Redevelopment

Accurate Charge Recording & Statutory Compliance

During redevelopment, many members purchase additional area or new members acquire flats through bank or housing finance loans. Proper and timely updation of loan details in society records is a statutory requirement to reflect bank charges, protect lender interests, and ensure error-free society documentation.

Our Loan Details Updation Service ensures that all loan-related information of new members is accurately recorded, legally compliant, and fully reflected in society records.

Purpose of Loan Details Updation

• To record bank charge / lien on the flat

• To comply with co-operative laws and bye-laws

• To protect society and lender interests

• To maintain accurate and transparent member records

Scope of Our Services

1. Verification of Loan Documents

We assist in verifying:

• Sanction letters from banks / financial institutions

• Loan agreements and disbursement proofs

• Tripartite agreements, if applicable
  
  

2. Society Record Updation

We support updation of:

• Member Register (I Register)

• Property / Flat Register

• Charge Register showing bank lien

• Share Certificate endorsement
  
  

3. Resolution & Committee Compliance

We assist in:

• Drafting Managing Committee resolutions

• Recording approval of loan and charge creation

• Ensuring compliance with bye-laws
  
  

4. Bank Intimation & Acknowledgement

We coordinate:

• Issuance of society NOC / acknowledgements

• Confirmation of charge entry to bank

• Compliance with bank documentation requirements
  
  

5. Post-Redevelopment Documentation

We ensure:

• Alignment of loan details with PAAA and allotment letters

• Correct reflection in audit and statutory records

• Availability of records for future transfer or repayment

Benefits of Proper Loan Details Updation

• Clear recording of bank charge / lien

• Compliance with society bye-laws

• Smooth audits and inspections

• Reduced disputes during resale or transfer

• Confidence for members and lenders

Our Assurance

We ensure that loan details of new members are updated accurately and in full compliance with statutory requirements, safeguarding society records, member interests, and lender rights.