Want to do RTO hypothecation removal process in Chennai? Itzeazy provides service for RTO HP cancellation in Chennai online. Hypothecation(HP) cancellation from RTO in Chennai is done by Regional Transport Authority/office ( RTA/RTO) .
If a vehicle is purchased on loan from a financier the same would be endorsed in the registration certificate.
As soon as loan gets over , One must get hypothecation removal or termination done . Its important because :
Ownership can not be transferred without removal of Hypothecation from the vehicle
NOC for other RTO will not be issued without doing HP removal
In case of loss of RC , application for duplicate RC needs to be endorsed by financer also
How to apply for hypothecation cancellation from RTO in Chennai online
Itzeazy provides Consultancy for Hypothecation deletion/termination of vehicle(car/bike) in Chennai ,
provides end to end assistance in all documentation support to the clients.
In case you had bought your vehicle through Bank Financing, the vehicle would be hypothecated (HP) with the bank and
name of the bank would appear in your RC book. Once you have cleared the loan, you should get the HP deleted.
We will take you through step wise procedure of getting NOC from bank for HP deletion in respective forms,
required documentation and make your due representation with RTO office.
Hypothecation deletion - overview
HP deletion for a vehicle is to be applied in the concerned RTO where the vehicle is registered.
Normally HP deletion of vehicle process takes approx. 3 weeks time. However actual time may vary some time.
Visit of registered owner or vehcile to the RTO is not required.
Process for Hypothecation cancellation
Make 50% payment online
Upload documents for pre-check
Document pick-up & Process starts
Make 50% balance payment & share address for dispatch
Documents delivered & order closed
Documents required for Hypothecation cancellation
2 copy of application in Form No.35
NOC from Bank
Copy of valid insurnace
Copy of valid pollution certificate
Forms for Hypothecation cancellation
Sample form 35
Bank NOC sample
Sample form 34
Hypothecation deletion - FAQ
Is there any validity period of NOC issued by Bank ?
Normally bank mentions validity period on the NOC issued by it. Check validity while submitting application to the RTO .
The validity of NOC issued by bank has been expired . what should I do ?
Get new NOC from the BAnk as RTO wont except expired NOC.
Can I sell my car without removing hypothecation from it ?
No, hypothecation has to be removed first.
I am transferring my vehicle from Bangalore to Mumbai which is on loan from bank. Is it necessary to repay full loan amount to get NOC from RTO ?
Either you can repay complete loan and remove hypothecation or loan continuation letter can be taken from the bank .