Dimapur, June 19 (MExN): The East Dimapur Town Council (EDTC) has directed banks operating within its jurisdiction not to process, sanction or disburse construction-related loans unless applicants produce a valid Construction Permit issued by the Council.
The decision was conveyed during a meeting convened by the EDTC with representatives of banks operating under its jurisdiction to discuss construction permits and compliance with municipal regulations.
According to a press release issued by the Council, the meeting stressed that all proposed construction activities within the East Dimapur jurisdiction must be undertaken only after obtaining the necessary approvals from the competent authority.
The EDTC requested all banks to ensure that applicants submit a valid Construction Permit issued through the proper channel before any construction-related loan is processed or sanctioned.
The Council also informed banks that any construction-related loan sanctioned or disbursed without a valid Construction Permit from the EDTC would be entirely at the concerned bank's own risk and responsibility.
It stated that the measure is intended to promote planned urban development, ensure compliance with building regulations and prevent unauthorised constructions within the jurisdiction of the Council.
The banks that attended the meeting assured their cooperation and agreed to support the implementation of the requirement in the interest of orderly development and adherence to municipal laws.
The EDTC also urged the public to obtain the necessary Construction Permit or No Objection Certificate (NOC) before undertaking any construction activity or applying for construction-related financial assistance, the release added.
