Process to remove Hypothecation

Process to remove Hypothecation - For car loan. 

This is very simple process costs only Rs225/- please do not waste money by going to brokers. Please apply with in three months of closing the car loan

Documents required:

1. No objection Letter from Bank - Original
2. Two Copies of Form 35 provided by Bank - Original (You have to sign in this form)
3. RC - Original 
4. Insurance Certificate - Copy
5. Emission Certificate - Copy ( Better to get this during off peak hours day before you visit RTO if not plan sometime for this because only getting this took so much time for me)

Process - (Photos are from Sholinganallur RTO)

Step 1: Arrange all the document mentioned above in the same order and staple the same

Step 2: Go to counter 'SUPERINTENDENT ' (Actual Photo of  Sholinganallur RTO provided below) and    give these document and say you need to remove hypothecation

  

Step3: Superintendent will verify all the documents provided by you and will collect Rs. 100/- for flag day and will provide a receipt for the same. Affix the receipt in your NoC letter

Step 4:Go to fee counter for paying the service fee which is Rs 125/- (Actual Photo of  Sholinganallur RTO provided below)

 Step 5: They will issue two receipts (Office / Personal copy). Retain the personal copy receipt with you and paste the office copy in the NoC letter below flag day receipt

Step 6: Now you have completed all the formalities required. Go to 'DESPATCH' section to handover the document package. Despatch clerk will give you date/time when you need to collect back your RC hypothecation removed

Step 7: Go on the date / time provided to collect but plan some additional time since they took more time for me to handover RC back to me