why to remove Hypothecation From RC

Following are the benefits of removing hypothecation from RC :

100% ownership – You have complete control over your vehicle once the hypothecation is removed from RC. You can sell, transfer, scrap or modify your vehicle as you wish. Consent of financier is no longer required.

Clean title – Hypothecation termination ensures that the you are the only owner . Bank has no say in it. A clean title makes selling or transferring the vehicle easier.

Insurance benefits - Insurance claims becomes complex procedure , if its under hypothecation from the financier .

Resale value – When you go to sell your vehicle, dealers often bring down the price based on the basis of pending documentation. Also more you delay, more is the chances that Bank NOC gets expired. It will further bring down the value of the vehicle. With these complications, your negotiation power reduces.

Hassle-free documentation – You need to take consent from financier every time for every RTO process such as duplicate RC, vehicle NOC, RC transfer etc. Once Hypothecation removed from RC, Its no longer required.

RTO OFFICES IN FARIDABAD

Following are the RTO offices in Faridabad :

RTO Faridabad (HR51)
Tehsil court compound,
Sector-12
Faridabad

RTO Ballabhgarh (HR29)
RLA cum SDM Panchayat Bhawan
Near Aggarwal Dharamshala
Ballabhgarh

COSTS FOR ADDING OR ENDORSING HYPOTHECATION

Approving a hire-purchase, lease, or Hypothecation removal Faridabad cost:-

Rs. 500 for motorcycles
A light vehicle costs Rs. 1500.
A medium or heavy vehicle costs Rs 3000

My vehicle was on loan which I have already closed 3 years back . Bank had given NOC for loan closure which expired long back . Now I want to go for removal of Hypothecation from vehicle in the RTO. Do I need to take fresh NOC from the bank?

Ans: Yes, you will have to take fresh NOC from the bank , as it has been already expired. In some cases work can be managed to get the done with expired NOC . For information on it you may contact one of our representative.

I bought my car on loan and its registered in Faridabad RTO . Currently I don't live at the address mentioned on the RC book . What should I do ?

Ans : No issue . Speak with Itzeazy In Pune RTO , RC gets delivered by post to the address mentioned on the RC after hypothecation removal process . So , ensure that someone can receive your RC at the registered address . Or else you can go for address change on RC along with HP termination .

Is form 35 and NOC the same?

Ans : No. Form 35 and NOC are not the same . NOC is given by the financer once you repay the loan on vehicle completely. It is stated in the NOC that loan has been closed and bank has no objection in the removal of hypothecation from the RTO record against the said vehicle.

Form 35 is the RTO application form used for the hypothecation termination from the RTO record of the vehicle.2 sets of form 35 is to be submitted in the RTO for hypothecation cancellation along with supporting documents. This form 35 should be signed by both bank as well as registered owner.

I have purchased a bike which is registered in other state. There is hypothecation on it. Who will apply for hypothecation termination in the RTO?

Ans : Since bike is still in the name of previous owner, so seller should apply for hypothecation termination in the RTO.

How to check hypothecation cancellation online in Faridabad or how to check hypothecation of vehicle online in Faridabad ?

Ans : Following are the steps to check status of hypothecation cancellation in Faridabad:

Login into Parivhan portal
Go to online services
Click on vehicle related services
Select state as " Haryana"
Select RTO and proceed
Go to status
Click on " know your application status"
Now enter either vehicle no. or application number in the box and get the status

I want to sell my car which is registered in Faridabad RTO. There is loan on the car. Is it necessary to remove hypothecation from RC in the RTO before selling car ?

Ans : Yes, its mandatory to clear the loan and do hypothecation termination before selling the car. Without clearing hypothecation in Faridabad RTO you can not apply for RC transfer process.

My bank branch is now closed or relocated. How can I get the NOC for hypothecation termination ?

Ans: If your bank branch has closed or relocated, you can follow these steps:

Contact the customer care of your bank and inquire about the process for obtaining a fresh NOC.

If the branch is relocated, the NOC request might be transferred to the new location or processed by the bank's regional office.

Some banks offer the option to apply for an NOC online or through their centralized customer service.

Itzeazy can assist you in coordinating with your bank to simplify this process.

There was loan on my car. It has been re-paid fully and bank has provided me soft copy of NOC for loan closure and form 35 set. Whats the next procedure to remove hypothecation from RTO?

Ans : Vehicle hypothecation from RTO can not be done with soft copy of bank NOC and form 35. Original bank NOC and form 35 is required to apply for hypothecation termination in the RTO. Please contact your bank and get the physical copy of bank NOC and form 35 having original seal and sign of the bank on it. After this you need to submit application for hypothecation termination in the RTO where vehicle is originally registered.

Do we get new RC after hypothecation removal in Faridabad ?

Ans : Yes, you will get new RC after hypothecation removal in Faridabad. You need to submit original RC in the RTO along with supporting documents to remove hypothecation from RTO. New RC is issued, once process is done in the RTO.

Can I get NOC from bank online?

Ans : You can get NOC from bank online. However please note that to remove hypothecation from RC in the RTO you need to submit original hard copy of the bank NOC signed and stamped by the bank along with supporting documents.
So get the original bank NOC and form 35 from the bank.

Is hypothecation mentioned in RC?

Ans : Generally hypothecation is mentioned in RC. However there are exceptions also. There are RTOs in India which do not mention hypothecation on RC. So, its always better to check hypothecation status on parivahan website for exact information.

Can I sell my bike without hypothecation?

Ans : Closing the loan on bike is mandatory before selling the bike as per motor vehicle act. After repaying loan get the loan closure letter and from 35 from the bank. You should submit hypothecation termination documents along with RC transfer paper in the RTO for ownership transfer of bike.

APPLY FOR HP TERMINATION

To book order or for any query or concern please speak to one of the consultants over phone or chat. You can also drop a message . We will get back to you shortly.

CANCELLATION OF RTO HYPOTHECATION IN Faridabad

In general, people make the mistake of believing that after paying off their vehicle loan EMIs, everything is finished and taken care of automatically. However, Hypothecation removal process in Faridabad needs to be done at the RTO office where the vehicle was registered in order to make sure that loan or hypothecation is not reflected in the RTO record against the vehicle .

If you don't remove hypothecation from your RC , in the normal circumstances it does not create problem. However when you apply for other RTO related process like Duplicate RC, transfer of ownership of vehicle , vehicle NOC then its mandatory to remove hypothecation from the RTO record first.

There is validity period mentioned on the bank NOC paper. If you dont submit it to the RTO within that period , you will have to again take it from the bank. Bank charges for issuing loan closure letter second time. Also there will be additional hassle in going to the bank. To avoid its advisable to go for HP termination process immediately once you pay off your vehicle loan.

Process for HP termination in Faridabad

Following are the steps for HP termination in Faridabad :

Get Bank NOC and form 35 from the bank
Submit application for HP termination along with supporting documents to the concerned RTO
Deposit requisite RTO fees
Application processing
Approval of application if everytig is in order
Issue of new RC after HP termination
Collect new RC from the RTO

Process of HP termination is not completely online in Faridabad. Application can be generated online. RTO fees can be deposited Online. However physical submission and collection of documents at RTO is required.

However, Itzeazy has online process for HP termination in Faridabad.

Where to Submit application for hypothecation termination in Faridabad

Faridabad comes under Haryana state and it has three RTOs :

Faridabad Pvt vehicle RTO (HR51)
Faridabad Commercial vehicle RTO (HR38)
Ballabhgarh RTO (HR29)

Itzeazy provides services in all the three RTOs of Faridabad.

DOCUMENTS REQUIRED FOR HYPOTHECATION TERMINATION IN FARIDABAD

Following are the documents required for hypothecation termination in Faridabad:

Form no. 35 duly filled
A certificate from financier for having retained full dues from the financier (for deletion case only)
Original RC
Copy of Valid insurance
Copy of valid pollution under control certificate
Copy of address proof of the registered owner (voter card/ passport/ telephone/electricity bill/ ration card) etc.

how to apply for HYPOTHECATION REMOVAL IN faridabad online

Itzeazy has following process for Hypothecation removal in Faridabad

Requirement understanding of the client

Sharing of the list of documents required

Advance payment by the client
Verification of the soft copy of the documents

Collection of physical copy of documents

Submission of the document to the RTO

Time to time update to the client about the progress of the work

Work completion and dispatch of the document

Why to Choose Itzeazy

🏍️  Faster processing - We make the HP termination process faster
🏍️  Guaranteed service - Get guarantee success with our consultants
🏍️  No hidden cost - Transparent pricing
🏍️  Accurate guidance - We have the knowledge and experience to make the process smooth and stress-free
🏍️  Our presence - Apply for services from anywhere in India, always open for you
🏍️  Door step service - Document pickup & drop from the convenience of your home
🏍️  Safety & Confidentiality - Your privacy is out utmost priority

Hypothecation Termination Faridabad

Do you want to apply for HP termination in Faridabad RTO ? Itzeazy provides door-step service for hypothecation termination in Faridabad. The application for HP removal in Faridabad should be submitted to the RTO where vehicle is registered. In this article we will discuss process for HP termination in Faridabad, documents required for HP termination in Faridabad.

We make HP Termination process faster

Itzeazy has a team of expert professionals who helps in the process to remove hypothecation from RC online in Faridabad. The HP cancellation process is done online while you sit at your home. Its door step and hassle free service. Application for Hypothecation termination should be submitted to the RTO where vehicle is registered.