I have taken loan from IDBI bank. Builder told me that my original registry paper will be sent to bank and I will get the xerox copy only. I will get my original registry paper from bank only after clearing my loan ie after 13 years. Is it true? If it is true then how will I be sure that it is kept with the bank safely? I mean any kind of document should I receive from bank or from builder?
You will get a Zerox copy of registry from the builder as builder (his executive) has the responsibility of collecting the original registry (sale-deed) from the registrar office and handing it over to the bank.
You can take a "List of Documents" from the bank in which bank will mention all the originals bank have in its record like
- Agreement to Sale with builder
- Originals of Current Registry
- Original of any old registry chain (in your case not valid, but yes, it might have zerox of registry chain of group housing plot)
- Copy of the sanctioned map
- All the originals receipts of amount paid to builder