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Hypothecation Termination Ghaziabad
Looking for RTO hypothecation removal process online in Ghaziabad , Itzeazy provides service for Hypothecation termination in Ghaziabad . So if you bought your vehicle on finance from bank , HP termination in Ghaziabad needs to be done after re-payment of loan . Services of Itzeazy for hypothecation removal in Ghaziabad is door step.
Car hypothecation removal in Ghaziabad is one of the specialized service of Itzeazy. Its important to remove HP from RC in Ghaziabad to sell your vehicle or to transfer your vehicle to other state.
CANCELLATION OF RTO HYPOTHECATION IN Ghaziabad
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 Ghaziabad 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 .
Reasons to cancel your vehicle's hypothecation
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.
RTO HYPOTHECATION REMOVAL PROCESS IN GHAZIABAd
Itzeazy has following process for Hypothecation removal in Ghaziabad
- 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
DOCUMENTS REQUIRED FOR HP TERMINATION IN GHAZIABAD
Following are the documents required for HP termination
- 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 certificate
- Copy of address proof of the registered owner
My vehicle is registered in Ghaziabad RTO. It was under hypothecation and now loan is closed . Currently I don't live in Ghaziabad . Do I need to visit RTO physically for HP termination process.
Ans : Yes. For HP termination process in Ghaziabad RTO , physical presence of registered owner is mandatory.
I bought my car through loan from bank. Loan has been completed . Now I am moving to Bangalore. What will be the procedure to get NOC for my car from RTO Ghaziabad?
Ans : NOC from Noida will be 2 stage process :
1. HP termination
2. NOC for car from Ghaziabad to Bangalore
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.
Cost for adding or endorsing hypothecation
The RTO fees for hypothecation addition is :
500 Indian rupees for motorcycles
A light vehicle costs Rs. 1500.
A medium or heavy vehicle costs Rs 3000
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