To book order or for any query or concern please speak to one of the consultants over phone or chat. You can also write to us. We will get back to you.
APPLY FOR HP TERMINATION
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 Mumbai
In Mumbai and its adjoining area there are 8 RTOs
Tardeo RTO
Mumbai central - MH01
Old bodyguard lane,
Tulsiwadi, Tardeo,
Mumbai – 400034
Andheri RTO
Mumbai west - MH02
111-D, Ambivali village,
New manish nagar,
Versova road,
Mumbai- 400053
Wadala RTO
Mumbai east - MH03
B-2, 3rd floor,
Wadala truck terminals,
Wadala, Mumbai -400037
Thane RTO
MH04
B-2, 3rd floor,
Wadala truck terminals,
Wadala, Mumbai -400037
Kalyan RTO
MH05
Sahyadri Nagar ,Chikanghar,
Nr. Birla School, Kalyan
(W) Dist. -Thane , Pin.421301
Borivali RTO
MH47
Wing A, CTS No. 53/4,
Link Rd, Pramila Nagar, Anand Park,
Dahisar West,
Mumbai, Maharashtra 400068
Panvel RTO
MH46
Central Facility Bldg,
Steel Market, Kalamboli,
Tal -Panvel,
Dist -Raigad,
Pin – 410218
Vashi RTO
MH43
T Block, Sector 19B
APMC Market
Vashi. New Mumbai – 400705
RTO fees for HP addition/ endorsement
Endorsing hire purchase/lease/hypothecation agreement:
(a) Motorcycle Rs. 500
(b) Light motor vehicle Rs. 1500
(c) Medium/heavy vehicle Rs. 3000
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
Where can I get the NOC after car loan repayment?
Ans : Bank or the financial institute which has given car loan, will provide NOC for hypothecation removal from RTO. It will also provide 2 sets of form 35 signed by the bank. Pls note that you need to submit original bank NOC and form 35 set in the RTO for hypothecation cancellation process. Soft copy of these documents will not serve the purpose.
How to check hypothecation cancellation online or how to check hypothecation of vehicle online ?
Ans : You can check status of hypothecation of vehicle by sending SMS to the mobile no. - 7738299899 . Format of the SMS is VAHAN space vehicle no . So suppose the vehicle no. is KA01CX1133 , then the SMS format should be VAHAN KA01CX1133. This SMS should be sent to no. 7738299899 . You will get an SMS . It will show the status of hypothecation cancellation.
My car is registered in Andheri RTO in my name . I have time constraint . Is it mandatory for registered owner to visit RTO for hypothecation removal process ?
Ans : For hypothecation removal process in Mumbai , visit of registered owner is not mandatory . Itzeazy provides door step service for hypothecation removal from RC in Mumbai and its adjoining area . Just you need to provide us required documents , We will get the complete work done .
My bike is registered in Thane RTO . Right now I am in Bangalore . How will I get my RC back after hypothecation removal from RTO ?
Ans : In Mumbai RC is being delivered by post to the address mentioned on the RC book . Though visit of registered owner to the RTO is not mandatory for hypothecation removal process, it should be ensured that someone should be able to receive your RC at the registered address after work completion.
I have a car which is registered in Wadala RTO . Its under hypothecation and loan is continuing . To sell car will I have to close loan first ?
Ans : Yes. With loan running on the vehicle you can not sell your car . So, for transfer of ownership process loan has to be closed first .
How can I endorse the hypothecation on the vehicle record?
Ans: If a vehicle is purchased on loan from a financier the same could be endorsed in the registration certificate. The following are the documents required:
- Registration certificate in original
- Two copies Form no.34 duly filled (for endorsement of Hypothecation).
- A certificate from financier for having retained full dues from the financier (for deletion case only).
- Self Attested copy of valid insurance.
- Self Attested copy of address proof of the registered owner.
- Self Attested copy of valid pollution under control certificate.
- Prescribed fee.
- Self Attested copy of PAN Card or Form 60 & 61(as applicable)
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.
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.
Hypothecation Termination in Mumbai
Do you want to apply for Hypothecation termination in Mumbai ? Itzeazy provides service for HP termination in Mumbai . Itzeazy does RTO hypothecation removal process online in Mumbai. Hypothecation cancellation in Mumbai is the process of removing hypothecation from the RC in the RTO records of the concerned RTO . After fully repaying your loan, you must terminate the hypothecation against the RC if you have purchased vehicle after taking loan from the bank and it is registered in Mumbai. In this article, we'll talk about the documents required for HP termination in Mumbai and the hypothecation removal procedure in Mumbai.
Itzeazy makes HP Termination process faster
Itzeazy has a team of expert professionals who helps in the process to remove hypothecation from RC online in Mumba. 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.
HP terminaion IN MUMBAI
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 Mumbai 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.
rto hypothecation removal process in Mumbai
If you have purchased vehicle on loan , In the RTO records vehicle will be shown hypothecated to the particular financier . Once you re-pay loan fully , hypothecation has to be removed from the RTO records. Process for removing hypothecation(HP) from RC is called hypothecation termination or hypothecation cancellation .
Following are the steps involved in hypothecation removal process in Mumbai :
- Collect form 35 & NOC from the bank or the financier
- Arrange required supporting documents which needs to be submitted to the RTO
- Submit the application for hypothecation termination to the RTO in Mumbai where the vehicle is registered
- Pay the requisite government fees
- The procedure takes about a month to complete.
- RC will be delivered to the registered address following HP removal.
Documents Required for Hypothecation termination in Mumbai
Following are the documents required for hypothecation termination in Mumbai :
- 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
- Address proof of registered owner
- Pencil impression of chachis number on a plain paper
- Aadhaar card copy of registered owner
- PAN card copy of registered owner
RTO HYPOTHECATION REMOVAL PROCESS online IN Mumbai with itzeazy
Itzeazy has following process for Hypothecation removal in Mumbai
- Requirement understanding of the client
- Sharing of the list of documents required for HP termination in Mumbai
- 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
Visit Required - No
Processing Time - 15 days
what is form 35 RTO
If you have purchased vehicle on loan from bank or some financial institution , while registering vehicle in the RTO , in RTO records vehicle is shown as hypothecated to that particular bank . Hypothecation is to be removed from RC in the RTO records , once loan is re-paid fully .
Bank or the financial institution provides 2 sets of form35 and NOC for the termination of loan from the vehicle . Normally this form 35 is given by the bank . However , some banks ask registered owner of the vehicle to bring form 35 .To download form 35 pls visit page RTO forms