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IREF® - Indian Real Estate Forum > Real Estate in India > Real Estate Pune > Registration of equitable mortgage deed
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Old June 8 2013, 12:45 PM   #1
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Default Registration of equitable mortgage deed

Hi

I came to know from SBI branch (when I approached them for precedure for the equitable mortgage deed for getting the loan for flat purchased by me at Pune) that from 1 st April 2013 all mortagage deeds need to be registered with the sub registrar, where you have registered your flat agreement with builder.

Initially the mortagager needs to give notice within 30 days of signing the mortgage deed in specified format.

Can somebody, who has completed such procedure throw more light on above, as to how best one can go ahead and the related costs involved?

 
Old June 8 2013, 05:40 PM   #2
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The same SBI branch will give you the detailed procedure . Some official from the bank will have to sign it on behalf of the bank .
Since the deed will be registered , once the loan is paid off be sure to do a release deed .
I think you also need to deduct TDS after 1st June 2013 if flat cost is 50 lacs+ .

https://onlineservices.tin.nsdl.com/.../tdsnontds.jsp
 
Old June 10 2013, 03:07 PM   #3
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Quote:
Originally Posted by suryawork View Post
The same SBI branch will give you the detailed procedure . Some official from the bank will have to sign it on behalf of the bank .
Since the deed will be registered , once the loan is paid off be sure to do a release deed .
I think you also need to deduct TDS after 1st June 2013 if flat cost is 50 lacs+ .

https://onlineservices.tin.nsdl.com/.../tdsnontds.jsp
Thanks for your reply. I was not able to get satisfactory reply from SBI branch thats why I raised this querry.

I would be glad to hear from somebody who has completed such registaration procedure.

Incidently tds is all together different topic and does not concern with registration of mortgage deed.
 
Old June 13 2013, 03:00 PM   #4
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Dear all,

Can somebody share the information needed by me.Thanks.
 
Old June 13 2013, 03:51 PM   #5
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vjosh,
I gone through process for registration of mortgage deed.
This link will help for initial circular.
http://igrmaharashtra.gov.in/writeda...%20motgage.pdf

I do purchased flat at Pune and took home loan from HDFC bank. Disbursement happened end of April 2013.
Total cost involved is Rs. 1300(1. DD in favor of "Sub-registrar Haveli No. 10/ 23(you need to check the no), Pune" + 2. Rs. 300 cash for handling charges at Sub-registrar office)

1. Upon agreement of home loan between bank and you. Bank will furnish you the form to fill the property and stamp duty details. You need to mention the list of original property related documents submitted by you to bank on that form.
2. You need to attach Rs. 100 stamp paper along with fully filled form.
3. Then you need to take sign and seal of Bank from where home loan in taken on fully filled form.
4. There are 3 sub registrar which are assigned for these activities in Pune. One is Sub-registrar office No. 23 at Mehandale Garage Road , Erandwane. 2nd is Sub-registrar No. 10 opposite to BJ medical College girls hostel, Near SBI Head Branch Pune, Pune Station. 3rd one i don't know plz check on this.
3. one Haveli No. 10 do this activity on Thursday and Friday, Haveli No. 23 does on Monday and Tuesday. Please confirm on this timings and haveli's from bank officials as they have circular.
4. You need to go to concerned sub-registrar Haveli office along with fully-filled form, Rs.100 stamp paper. Identify proof and agreement copy between you and bank. Plz carry all these in set of two. (But my one is done with one set as Govt officials also don't know exact process).
5. If home loan has co-applicant both should be present at sub-registrar office.
6. At sub-registrar they will give one green slip to and then we need to take sign and seal of sub-registrar on back page of stamp paper which should be last page.
7. Since we are early birds it took us one hour to complete the process. we don't know what time it will take now.
8. Then you have to submit back one copy of it back to home loan bank for there acknowledgement.
9. The time when we done somethings were unclear from Govt side also. So please correct if process has been changed.
humble_guy and vjosh2 like this.
 
Old June 13 2013, 07:28 PM   #6
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Quote:
Originally Posted by santi1983 View Post
vjosh,
I gone through process for registration of mortgage deed.
This link will help for initial circular.
http://igrmaharashtra.gov.in/writeda...%20motgage.pdf

I do purchased flat at Pune and took home loan from HDFC bank. Disbursement happened end of April 2013.
Total cost involved is Rs. 1300(1. DD in favor of "Sub-registrar Haveli No. 10/ 23(you need to check the no), Pune" + 2. Rs. 300 cash for handling charges at Sub-registrar office)

1. Upon agreement of home loan between bank and you. Bank will furnish you the form to fill the property and stamp duty details. You need to mention the list of original property related documents submitted by you to bank on that form.
2. You need to attach Rs. 100 stamp paper along with fully filled form.
3. Then you need to take sign and seal of Bank from where home loan in taken on fully filled form.
4. There are 3 sub registrar which are assigned for these activities in Pune. One is Sub-registrar office No. 23 at Mehandale Garage Road , Erandwane. 2nd is Sub-registrar No. 10 opposite to BJ medical College girls hostel, Near SBI Head Branch Pune, Pune Station. 3rd one i don't know plz check on this.
3. one Haveli No. 10 do this activity on Thursday and Friday, Haveli No. 23 does on Monday and Tuesday. Please confirm on this timings and haveli's from bank officials as they have circular.
4. You need to go to concerned sub-registrar Haveli office along with fully-filled form, Rs.100 stamp paper. Identify proof and agreement copy between you and bank. Plz carry all these in set of two. (But my one is done with one set as Govt officials also don't know exact process).
5. If home loan has co-applicant both should be present at sub-registrar office.
6. At sub-registrar they will give one green slip to and then we need to take sign and seal of sub-registrar on back page of stamp paper which should be last page.
7. Since we are early birds it took us one hour to complete the process. we don't know what time it will take now.
8. Then you have to submit back one copy of it back to home loan bank for there acknowledgement.
9. The time when we done somethings were unclear from Govt side also. So please correct if process has been changed.
Thanks for the detailed reply. I am sure that above information given by you will be helpful to many IREF members in the time to come.

I have few few more querries as under

1) Do you need to take any appointment with registrar or one can just walk in? This is important for me to know as I am living in Mumbai.

2)I registered my flat agreement with builder at Hinjawadi Registars office (near Hospital) .Am I allowed to visit any of the three registrars mentioned by you for above purpose.

3)My case is little different ,I have bought the flat at Pune but taking loan from SBI BKC branch Mumbai. Is there a need for presence of the bank official at registrars Office? I hope not.

4) I do hope the reg procedure can be carried out smoothly without involving services of an Agent.

Thanks for your reply once gain.
 
Old June 14 2013, 09:38 AM   #7
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Quote:
Originally Posted by vjosh2 View Post
Thanks for the detailed reply. I am sure that above information given by you will be helpful to many IREF members in the time to come.

I have few few more querries as under

1) Do you need to take any appointment with registrar or one can just walk in? This is important for me to know as I am living in Mumbai.

2)I registered my flat agreement with builder at Hinjawadi Registars office (near Hospital) .Am I allowed to visit any of the three registrars mentioned by you for above purpose.

3)My case is little different ,I have bought the flat at Pune but taking loan from SBI BKC branch Mumbai. Is there a need for presence of the bank official at registrars Office? I hope not.

4) I do hope the reg procedure can be carried out smoothly without involving services of an Agent.

Thanks for your reply once gain.
1. We can just walk-in to sub-registrar Haveli office without any prior appointment, though i don't know todays situation.

2.The registration of mortgage deed will be done only at above mentioned three sub registrar office but depending on day of week on which you want do your work you may need to visit one of three Sub-registrar Office. So irrespective of where agreement executed in Pune.

3. Bank official are not required to in person present at sub registrar office. But since your home loan bank is based out of Pune. Plz confirm with bank.

4.Yes absolutely no agent services are required as of now. But make sure which haveli office to visit on which day and confirm with SBI Bank in Pune since your home loan is with SBI.
 
Old June 14 2013, 12:04 PM   #8
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Quote:
Originally Posted by santi1983 View Post
1. We can just walk-in to sub-registrar Haveli office without any prior appointment, though i don't know todays situation.

2.The registration of mortgage deed will be done only at above mentioned three sub registrar office but depending on day of week on which you want do your work you may need to visit one of three Sub-registrar Office. So irrespective of where agreement executed in Pune.

3. Bank official are not required to in person present at sub registrar office. But since your home loan bank is based out of Pune. Plz confirm with bank.

4.Yes absolutely no agent services are required as of now. But make sure which haveli office to visit on which day and confirm with SBI Bank in Pune since your home loan is with SBI.
"Rs. 300 cash for handling charges at Sub-registrar office" - this is nothing but the bribe we have to pay for getting things done at the sub-registrar office and is dependent on the agreement value .
 
Old June 18 2013, 04:42 PM   #9
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I have recently purchased a home loan from a leading Public Sector bank. As per the amendment to the Registration Act of 1908, bank has to give me a format for giving a letter of Intimation to the Registration department. This format along with Rs. 1300 has to be submitted at the Registration Dept. within 30 days.


Bank gave me the format on 29th Day. It was not possible for me to do the Franking, Demand Draft and going to Registration and complete the formalities. Also as the rule is new, nobody knew what exactly has to be done.


Some people are saying, One has to do the Registered Mortgage. I have no idea about that.


My Query is: if one is unable to give the letter of intimation and Rs. 1300 within 30 days? What should one do? Will there be any penalty?
 
Old July 8 2013, 06:26 PM   #10
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If one is unable to give the letter of intimation and Rs. 1300 within 30 days? What should one do? What is the procedure after 30 days?
 
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