Special :: Registration (Maharashtra Amendment) Act, 2010 has come into force from 1st April 2013


Registration (Maharashtra Amendment) Act, 2010 has come into force from 1st April 2013

By Integrafinserve.in | Updated on 13 November, 2013 at 20:58:22 |

The Government of Maharashtra has amended the Registration Act 1908 in its application to the State of Maharashtra by Registration (Maharashtra Amendment) Act, 2010. The said Registration (Maharashtra Amendment) Act, 2010 has come into force from 1st April 2013 as per notification dated 7th March 2013, published by the Govt. of Maharashtra, Revenue and Forest Department in Official Gazette.

In all cases of Mortgage by way of Deposit of title deed (Equitable Mortgage) created on or after 1st April 2013:

a) If an agreement is executed between the Mortgagor and the Mortgagee (Bank), it has to be compulsorily registered. The permissible time limit for registration is four months from the date of execution.

b) If such agreement is not executed, then the Mortgagor (Borrower/Guarantor as the case may be) has to file on online “Notice of Intimation” of such mortgage within 30 days from the date of mortgage, with the Registering Officer/Officers concerned, within the local limits of whose jurisdiction the whole or any part of the property is situated, giving the details of his name and address, name and address of mortgagee, date of mortgage, amount received under the mortgage, rate of interest payable, list of documents deposited and the description of the immovable property.

c) Where an agreement relating to deposit of title deed is executed and registered as per clause (a), then there is no need of filing of notice of intimation.

d) The non registration or agreement/ non filing of notice of intimation may affect the enforce-ability of the Equitable Mortgage created on or after 1st April 2013. Hence adversely affecting the Mortgagee/Bank’s interest.

e) Any Mortgagor who fails to file such notice of intimation within the prescribed time shall be liable for punishment under Section 89C of the Act.

The Govt. of Maharashtra has issued a Circular dated 25th April 2013 stating that since the infrastructure for e-file is not in place, the notice of intimation has to be filed manually in the enclosed format. The Memorandum/ Recital for recording the equitable mortgage (document on which the stamp duty is affixed) needs to be annexed with the Notice of Intimation and stamp duty of Rs.100/- only needs to be annexed with the Notice of Intimation as per Section 4 of the Bombay Stamp Act. The filing charges and the document handling charges as mentioned in the above Circular of Govt. of Maharashtra, at the rate of Rs.1000/- and Rs.300/- respectively will also be required to be paid by the mortgagor. Where the Memorandum/Recital is not duly stamped, the notice of intimation will be required to be properly stamped as per the Bombay Stamp Act.

Process of filing intimation is as follows which needs to be done before disbursement (LAP/Fresh Home Loans) or after disbursement (Balance Transfers) FAQ:

1) The notice of intimation form franked for Rs.100 needs to be submitted along with all details filled in with photos affixed of mortgagor.

2) First make online payment of Rs.1000 towards filing fees, undertake online e-filing as explained below, generate the form at the end of the process, affix photograph(s) and get it attested by your lender. The said notice to be submitted along with Rs.300 in cash for handling charges for which Sub registrar will give receipt at the counter.

3) The said Notice of Intimation to be enclosed duly executed (franked), Receipt of Stamp Duty/Franking done, Loan Agreement/Memorandum of Deposit bank attested copy, accepted Sanction Letter bank attested, Index-II bank attested copy & Bank official’s ID Card copy bank attested.

4) Any one property owner to be present in person in sub registrar office with original ID proofs and above documents.

5) All property owners KYC to be attached with the same along with the KYC of bank official signing the loan agreement.

6) Date on the Memorandum of Deposit/Loan Agreement should be within ONE month of date of submission.

7) Note if the date is beyond ONE month, the Mortgage has to be registered by paying 1% of Loan Amount (max Rs.30000/-) within 4 months.

8) There have been cases of notice of intimation being accepted in SRO other than in which the property was originally registered. (for e.g. notice of intimation being accepted at Borivali I, IV or VI while property originally registered at SRO Borivali III)

Sub-Registrar Office Addresses:

Click here

Note: The above addresses & telephone nos are updated on a best effort basis without any guarantee of accuracy, kindly make necessary inquiries before visiting.

Challan Number has to be generated first and then Notice of Intimation as explained below:

  1. For Filing charges of Rs.1000/- website is http://www.gras.mahakosh.gov.in by Debit or Credit Card and select option “Registration Fee”, Drop-down MTR-6 and then Take Print-out
  2. For Payment of Filing charges & Stamp Duty website is http://www.gras.mahakosh.gov.in, Select Bank, Make Payment, Select option “Non-Judicial Stamp”, Generate MTR-6, Take Print-out and submit to selected bank, Obtain Stamp of Bank.

eFiling of Notice of Intimation:

  • First you need to change your browser settings as per eFilingIESettings on the Login Page of Dept. Of Registration & Stamps, Govt of Mah, Pune website.
  • Go to http://igrmaharashtra.gov.in/default.aspx –> Public Data Entry For Filing —> Create your password and start filling.
  • FLOW
    1. Enter user number and password of your choice. Enter the required information.
    2. Thirteen digit Data Entry Number is generated. Please note down this number
    3. Once entry is complete you take a printout of data entered. Please read the printout carefully.
    4. For any modification use thirteen digit Data Entry Number and password you have created for that entry
    5. Mortgagee has to take printout, affix his photo, sign it and after attesting by the concern bank officer with his seal and signature, the mortgagee has to physically submit it in the office of concern sub Registrar. No Need of Bank officers photo and physical presence
    6. For offices in concurrent jurisdiction, you can go to any SR office with Data Entry Number
    7. With the use of 13 digit number, the entered information will be available at SR Office.
  • For offices in concurrent jurisdiction, you can go to any SR office with Data Entry Number, irrespective of the office chosen at the time of data entry.
  • You may have to write to IGRO: igr_it@hotmail.com or call DIG IT 020-26128417, 020-26138432, DIG IGR 020-26124012 for queries.
  • Please find the FAQ regarding filing of notices here. Note the same is an extract from IGR website.

For online payment of Notice of Intimation fee & Online eFiling call +919322286765 (Service Fees – 1000/-) at sole discretion of Integra FinServe and responsibility of the Customer.

Registration fee and Applicable Penalty :

The registration fee is a fee for the service provided by the sub-registrar’s office, of recording and storing the document for years together and in the proper condition. If one does not pay registration fees, he will not be able to register the document and will be deprived of these services but there is as such no penalty for non-payment as is the case of stamp duty. So whenever a person goes for registration he is charged the same registration fees as is chargeable on his document on the date of registration and no interest etc. is charged. However one must keep in mind that when one goes for registration after four months and before eight months of execution of document he is charged a penalty which could be up to 10 times of registration fees. This is the penalty for delay in presenting the document before the registrar and is not a penalty for non-payment. Normally this penalty is charged at the rate of 2.5 times of the registration fees per month for delay beyond the permissible 4 months.

The Registration fees is one per cent of the market value or Rs.30,000, whichever is less in case of documents pertaining to sale or conveyance. This is applicable from 01-04-2003 to date.

Please call +919322286765 for further queries.

 

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88 comments

  1. Kamlesh

    Pl. let me know, if my property which is to be mortgae are at Union Territory & My Registered office & Bank Facilities are Based in Mumbai, then what will be implementation of Stamp Duty if i execut all the documents at Union Territory? and Deposit the title deeds at the Bank branch at union territory only.

  2. munirkulavoor

    “The Bombay Stamp Act, 1958 is applicable in the State of Maharashtra. This Act is intended to levy Stamp duty on certain types of documents executed in the State or brought from outside for acting upon the same in the State. The Bombay Stamp Act, levies Stamp duty on documents/instruments by which any right or liability is, or purports to be, created, transferred, limited, extended, extinguished or recorded. The stamp duty is payable on instrument and not on the transactions.”

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  4. Sudhir salian

    If the copy of mortgage document is attached with the notice of intimation is it okay or the mortgage deed in case of equitable mortgage needs to be registered with paying 1pc registration charges

    • munirkulavoor

      Copy of Memorandum of Deposit is required for filing Notice of Intimation provided ‘date of mortgage’ is within 1 month of filing.
      If you are unable to get the date changed/filing in case of exceeding 1 month, then 1% of loan amount (max. Rs.30000) has to be paid to register the mortgage within 4 months of ‘date of mortgage’.

  5. Manoj Poduval

    I plan to buy an “under construction” property which would be ready by 2016 June only. it is under the 20-80 scheme by the builder wherein the mortgage loan is raised immediately but the interest till the time of the possession or June 2016 whichever is earlier, is funded by the builder. in such cases as a borrower what should be me liabilities towards filing/ registration (knowing that the property would be registered in my name only in 2016, hopefully 🙂 )

    • munirkulavoor

      Filing of Notice of Intimation or Registration of Mortgage document is required to be done only after ‘Equitable Mortgage’ is created on the property which in turn happens only after depositing Title Documents of the said property with the lender. The lender/bank has nothing to do with the scheme that the builder offers and shall recover interest applicable as per normal process. Hope this answers the query Manoj.

  6. Asha K

    Hello,

    I have bought a new flat by making part payment and registered the same on 24th June’13. The bank has disbursed the loan amount mentioned in my sale agreement on 10th of July’13 . Now, I am confused as I am not aware whether I need to file the notice of intimation of title deeds and whether the same is within the deadline period. Also, when I contacted MY Bank in this case (ICICI BANK) , their reply was that they have not yet started this practice for anyone. Need some advise on this matter at the earliest as my lawyer is insisting that I should file the same and I am helpless as the bank has not started this practice yet.

    • munirkulavoor

      Hi Asha the window of one month of filing Notice of Intimation starts from the date appearing on the MOD or Memorandum of Deposit of Title Deeds (document on which stamp duty of 0.2% is paid). The responsibility of filing it lies solely on the borrower irrespective of whether the Bank prescribes it or not. Kindly call on +919322286765 for further clarifications, if any.Thanks.

  7. Hiten Chhadwa

    well, good info….great efforts…i required the schedule of the joint sub registrar in mumbai and thane also….can you tell me the schedule of mortgage registration asap

    • munirkulavoor

      Thank you Hiten. For the schedule you are better of just dialing the SRO (where your property was registered) yourself and check the their schedule. Their addresses & contact numbers are available on the IGR website here.

  8. mohit

    Hello, I have missed to file notice of intimation in 30 days period. what can I do now?
    Is there any panelty for it?

    • munirkulavoor

      Hi Mohit,
      If you miss the 30days window, you need to register the Equitable Mortgage by paying 1% of Loan amount (max. Rs.30000) within 4 months of mortgage. However there is a way out kindly call on +919322286765 to know more.

  9. Rohan

    if in case i miss to file notice of intimation in 30 days period then can i go with clause (A) above which say “If an agreement is executed between the Mortgagor and the Mortgagee (Bank), it has to be compulsorily registered. The permissible time limit for registration is four months from the date of execution.”
    as my mortgage date is 15th June can i prepare one agreement with the bank in the above manner….kindly brief about this agreement funda.
    Thanks for the telephonic response, your support will be highly appreciated.

  10. Rohan

    what is the registration cost for the same, is it 1% of the loan amount.?
    also what is the procedure of getting this memorandum register.?

  11. Vipin Bansal

    First of all, thanks so much for putting this info. Great work done !!!
    I too have a query – I purchased a property on 28-March and applied for a loan from SBI. I got disbursment on 17-Apr. Bank sent me a letter for submitting these docs in registrar office sometime in June (they sent it to some wrong address and then they gave me a call to come to them for these docs). Finally, I got all these documents which I should be submitting to registrar office on 29-Jun. When I contacted Thane registrar office in July they mentioned that they can’t accept it as one moth has been passed. When asked for a penalty etc, they said there is no such provision.

    When I contacted bank again, they asked to go to a lawyer for help. Lawyer suggested that registrar office should accept these document till 6 months (from 17-Apr) with some nominal penalty. After being more late it would be more paper work etc. Anyway, whenever I am contacting Thane registrar office, they say that there is no such provision and they will not accept any documents.

    I want to know what can be done in this regard.

    Also, (sorry for asking this question if it sounds like very ‘layman’) when I took this loan from SBI, I paid some charges like franking charges etc. Wasn’t that a kind of registration of my agreement with bank that I am taking a loan and putting all originals with them. If that is true, is there no need to file this notice of intimation (as per above mentioned clauses a and c).
    Please guide.

    Thanks once again.

  12. jitendra Sharma

    I have missed 30days period for filing the notice of intimation ,my date of mortage is 27 june,can i process this now to pay filing fees Rs1000/-& Rs300/-for document handling charges ?
    please suggest.

  13. Rachita

    hi, my date of mortgage is 22nd august. I need to register in ambernath. Do i need to take an appointment to visit there ? I have already prepared DD today Rs.1000/- in the name of Sub registrar and i am planning to visit this friday. is it ok if i provide the dd prepared 2 days before. Sorry this is a stupid question but visiting a registrar is a hectic job for me. Please guide?

    • munirkulavoor

      Dear Madam
      You may obtain the contact numbers available on igr website here and check for the timing slots for Notice of Intimation submission. For the convenience of public they have established time-table so as to accommodate submission at night (upto 9pm) and on weekends (Sat & Sun). With regards to the DD you’ve prepared, it is valid for 3 months.
      Rgds
      Munir

  14. CA Amol Kasat

    Sir I am a chartered accountant one of my client facing problem for intimation of equitable mortgage. Regarding this issue I was called many times on your mobile but it was switched off Pls give me another no. or pls call me on 9420637273 on this no. for your expert advice.

  15. pantulu

    A doubt is there. In the registration act amendement, if EM is done in any other state of Maharastra for a property belonging it Maharastra, it is compulsory. What happens for visa vis. ie. if any property situated outside Maharastra, and EM is created in Mahrastra, is registration is to be done at that place, where it was not mandatory.

    • munirkulavoor

      Hi Jayraj
      There are two options, you either submit Notice of Intimation along with the prescribed papers & amount OR register the equitable mortgage within 4 months by paying 1% (max 30K). If you have correct documents than it is only a matter of submission at registrar office hence not very complicated. Do call for any further query on +919322286765.
      Rgds
      Munir

  16. Sumit

    What happens if 4 months are also over? My bank informed about these provisions 2 months after my loan was disbursed- so, 30 day window was not open to me. Despite repeated reminders, bank did not provide MoD and would not opt for registration as well. Now, 4 months are also over. Can you please suggest what should be done?
    Also, what happens if you change the home loan provider? Do you have to undergo the same process again?

  17. Dilip Mundada

    Hi Munir,

    I have read so many document from govt web site but no where it is mentioned that there is provision of fine upto 30K.

    Can you pls let me know from where did you get this info.

    If fact many of offices are still not aware about this intimation process.

    Thanks
    Dilip
    9987806741

    • munirkulavoor

      Dear Dilip
      If you read the point (a) above ‘If an agreement is executed between the Mortgagor and the Mortgagee (Bank), it has to be compulsorily registered’. Registration is done by paying 1% of the loan amount, maximum being Rs.30000. Please note this is a registration fee and not a fine. However if you simply file Notice of Intimation, along with the prescribed fee of Rs.1300, within 30 days of date of mortgage then you may not register the said agreement. So basically the ‘Notice of Intimation’ filing process is in lieu of ‘Registration’.
      Rgds
      Munir

  18. Haripriya

    In case i cancel my loan after filing notice of intimation, then what is the procedure to take back my title deeds and how to intimate sub-registrar on this.

    • munirkulavoor

      Hi Haripriya
      The service provided by the sub-registrar’s office (SRO) is that of recording and storing the document for years together and in the proper condition after ascertaining if full stamp duty is paid on the document. Your original title deeds are deposited with the Bank / Mortgagee and has nothing to do with SRO. Hence there is no action required from your end upon cancellation so far as you have a No Due Certificate from the Bank / Mortgagee.
      You may want to consult sub-registrar office in your jurisdiction additionally on this query.
      Rgds
      Munir

  19. Pankaj Singh

    Hi Munir,

    I need one clarification. We have a joint loan (with my spouse). Do both of us have to be physically present while going to SRO for filing of intimation? Please confirm

  20. Arun Swaminathan

    Hi Munir,

    Just spoke to you a while back. The stamp duty of 0.20% has been affixed on the Loan Agreement (dated 29th June 2013), but the Memorandum of Deposit is dated 24th October 2013. Has the 30 day period surpassed for the notice of intimation? Further, the sub registrar office complained that the stamp duty payable should be 0.50% as it is a Mortgage Deed (as against the 0.20% for Deposit of Title Deed). Not quite sure of the rules here. Please advice.

  21. Jayesh Patel

    Hi Munir,

    Please help me I am facing a serious issue with this. Please see below:

    1. Applied and got the loan from India Bulls
    2. I’m out of India so all process was done by my mother based on the POA that Indiabulls sent (Notary not registered and original is submitted to Indiabulls)
    3. My mother visited sub-registrar office and pleaded them but they didn’t do due to following issues
    3.1. POA was notary and not registered
    3.2. India Bulls Document has place my mother photo and signature in mortgagor but I’m the one who took so they need my picture but I’m not present to sign and thumb the document as per Indiabulls so they took my mother but registrar isn’t accepting it.
    3.3. Now 30 Days have been passed
    4. Sir my mother is uneducated and doesn’t understand much and I can’t come to India due to my job, since I some how made here you know how middle class people life is in Mumbai.

    I am really stressed out as well my mom and doesn’t want to face any legal issue latter I am ready to pay the penalty but I want my work to be done. I please request you to provide your end to end service and help me with this issue let me know the best available number to reach you.

    Please help me out sir and let my mind be in peace.

    Regards,
    Jayesh Patel

  22. Pankaj Singh

    Thanks for replying my earlier post. Need one more clarification. Notice of Intimation needs to be franked for 100 or a blank 100 rupees Stamp paper will do? Our bank SBI has mentioned “Rs 100/- Stamp paper”. If Rs 100/- stamp paper will do then we need to submit a blank stamp paper along with documents? Please suggest

  23. Amit

    Hi Munir
    I am trying to submit the 1000rs fees for registration on the gras.mahakosh.gov.in website.
    Which option should i select (i have selected e-payment, department: inspector general of registration, payment type: non-judicial stamps. sheme name:???)

  24. sandeshd87

    Today I had went to SBI RACPC for documentation. They gave me Rs.100 franked ‘Letter of Intimation’ to submit in sub-registrar office and after that only the will disburse the loan. As my property is situated in Mira Road I have to submit it in Thane.

    My queries are:
    1. Can I submit the same in any of the Sub-registrar office in Thane?
    2. Do I have to make DD of Rs.1000 or online payment is mandatory?
    3. Do I have to carry photocopy of Letter of Intimation?
    4. How much time it takes to complete the process?
    5. SBI officer didn’t inform me anything about Public data entry. Is it required in Letter of Intimation case?
    6. Even they informed me that Letter of Intimation is aacepted between 2pm and 6pm in registrar office.

    • munirkulavoor

      1. The Notice of Intimation (NoI) along with the documents given by the Bank has to be submitted at the Sub-Registrar Office where you have registered your property. Having said that SRO in the same jurisdiction are accepting the same.
      2. Most SRO insist on online submission and payment before you handover the documents with challan physically.
      3. Original NoI along with documents has to be submitted.
      4. The process can be completed within a single day if planned before-hand.
      5. The procedural information in the above article is derived from the experiences of our clients and it is an attempt to help other citizens facing the same challenge. Banks may or may not be aware of the above.
      6. Each SRO have organised extended hours/shifts for which you need to contact them on the numbers provided on IGR website.
      Thanks.
      Rgds
      Munir

      • sandeshd87

        Thanks for replying.

        One more query.
        Bank official has not attached his KYC. Is it mandatory, else if the sub registrar rejects to accept then I have to go back to RACPC and then again Sub Registrar office.

      • sandeshd87

        Even Bank official ID copy is not attached. Only attested copies of required documents is attached with it.

        Even igrmaharashtra site has added new option of ‘Data entry for filling’. Is it mandatory to follow the process. My Notice of intimation is already franked and if data entry process is followed I have to pay stamp duty again.

        My loan amount is 11lakhs, is franking of Rs.100 sufficient?

  25. sandeshd87

    I submitted mine today. They didnt ask for Bank official KYC but online payment is mandatory (procedure is simple).

    For Mira road bhayandar you have to submit it in Joint Sub Registrar Thane no 7 office. Its in MTNL telephone exchange (3rd floor) – Bhayandar west.

  26. Mustafa

    Hi Sandesh,
    Can you please explain what fields to be selected for online payment and please tell me who will be PartyName2: SBI or the owner?
    Thanks.

  27. Raghav

    Hi Sandesh,
    Please can you explain what options to select while doing the online payment of Rs. 1000 for the “Notice of intimation”?
    Thanks in advance

  28. Amit

    Hi Sandesh, why to select Article 6(1) for paying fee of 1000 for notice of intimation since as per my understanding 6(1) is about “Agreement relating to deposit of title deeds” which must be registered compulsorily after the amendment. But if the bank has not executed agreement then notice of intimation should be filed.
    And an agreement is different from MOD as I understand, and so selection should be one 40(a) or 40(b) out of mortgage deed without poss or with poss as the case may be.
    Please advise.

    • sandeshd87

      Some of the provisions of the (Indian) Registration Act, 1908 (“Act”) have been recently amended by Government of Maharashtra and are effective from 1 April 2013, through Registration (Maharashtra Amendment) Act, 2010 .

      The key amendments are relating to certain age old practice i.e. (i) Registration of Equitable Mortgage (Mortgage by Deposit of Title Deeds) (ii) Registration of sale certificates issued by competent officer and (iii) Registration of certain Irrevocable Powers of Attorney. The amendment also takes its first steps towards electronic registration

  29. Pooja Gadkari

    Hi. I have to create a registered mortgage for a loan. The stamp duty payable on one doc is Rs. 350000/- and the other doc is Rs. 200/-. Both these docs need to be registered with the Sub-registrar. So what will be the registration fees payable on both these docs? Will it be Rs. 30000/- each?. Kindly reply.

    Pooja

  30. Shivchandra

    Good Information sir. After reading this information I filled the form & created challan. I have saved Rs.1000 as I have been asked by an agent for submitting the form to Sub Registrar.

  31. Ravi

    Hi,
    I have missed the 30 day deadline fro notice of intimation of mortgage. What are my options. My bank tells me I need to pay 0.2% of loan amount and get a new MoD franked. Are there any other options?

      • Amar

        Hello Munir,
        Thanks for attending my call, it was very helpful.
        I understood the last option i have is to register the Mortgage document to Registry office, which would take 1% of loan amount which 28k in my case.

        Hi Ravi,
        Which bank do you have your loan, that is allowing you to get a new MoD franked with only 0.2%?
        (please reply, since i will be saving 0.8%, that huge)

        Regards,
        Amar

  32. Rajkumar

    Dear Munir,
    This is really a very timely and relevant post on the net. I am also happy that I could speak with you and could get further clarity.

    Thanks
    Rajkumar Bidawatka

  33. Javed Attar

    Hi
    I submitted all my document to the registar office after doing all the process online like echallan payment all this thing.
    But registar told me your code is not opened and for that u contact your bank.
    What should be the reason for this ?

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  35. Ravi

    Hi,
    I have missed 30 days of “Notice of Intimation” filling. The bank had sent me all the require documents to file this intimation. When went to pay the charges on 1000/- vie e-filling, my account debited with amount but no bank CIN generated instantly, The I contacted “IGR -GRAS” support team and they said there was some technical due to that the receipt is not generated and would be generated after 8 days(i.e. Saturday). The made me to miss the time line to file the “notice of Intimations” my MOE done on 11/03/2014. Today, I have come know about that now I need to register the agreement with SRO with 1% of reregistration fees on loan amount. As my loan amount is 32L and do not want pay such huge penalty for the same. is there any way out/option which end up paying moderate amount for the same?

    Please advise, I really need help on this. I can not pay this amount of 30K + wherever stamp duty( do not how much that would be).

    Highly appreciate your response.

  36. vijay

    hi munir sir u r great work & help .
    i am vijay my problem is i online genrate 1000 rs online challan paid & challan is all right but some sirname spaling nominal mistake so kya woh challan chalega ki nahi pls help me ? or new challan genrate &what is the proceess the refund 1000 rs

  37. kairav

    This article gives good insight about this rule. This act is passed by Govt of Maharashtra to help people but the implementation is very stressful for property purchasers. I bought one property recently and passed through this stressful process. Intimation of mortgage has to be done in sub-registrar office within 30 days (including holiday, saturday, sunday etc.). The 30 days are counted strictly including if the month is of 31 days. So be careful. As the mortgage intimation details are to be filled in system thus after 30 days system do not take the intimation so the sub-registrar will refuse to take it.
    Once 30 days are passed now the intimation can not be submitted and now bank has to register the mortgage document (also call recital) in sub-registrar office.
    Although It is duty of bank to educate its customers about this process and get this done from them before disbursement but banks are not bothering about this and their basic intention to get sign on a declaration from customer that they have been apprised about this rule .
    Bank provides complete set of documents to be submitted along with the intimation letter. Take signature of loan documentation officer and stamp on every page of this document set. Get intimation filled on web site from bank only. Stick one photograph on it. Take one photo copy of I card of bank documentation officer. Registrar office has kept around 2 days in a week for the intimation (check the timings).
    If there is sizable period between mortgage date and disbursement date bank can help even if 1 month from mortgage date has passed however once the loan is disbursed and 1 month is over from date of loan disbursement date even bank can not help.
    In my case I missed the 30 days mark by just 1 day and bank further screwed it (as difference between mortgage date and disbursement date was only 5 days). Although I always kept in my mind that this process is to be completed and reminded to my property agent several times but NEVER THOUGHT THAT SUCH KIND FRIVOLOUS LAW CAN EXIST WHERE IF YOU MISS 30 DAYS DEADLINE OF YOUR OWN PROPERTY YOU NEED TO PAY FINE OF 30,000.
    If you missed 30 days deadline get the mortgage document registered by paying 30,000/- or 1% of loan amount whichever is less. AFTER PASSING OF 4 MONTHS THE PENALTY IS VERY VERY HEFTY. DIFFICULT TO UNDERSTAND THAT THIS RULE IS FOR THE PEOPLE OR AGAINST THEM.
    For submission of intimation or getting done the registration of mortgage take help from registration agents if required. There is no harm in it. In my case my property agent (registration agent is different) kept saying that I can directly submit the intimation and it is very easy but in this smartness I missed the 30 days deadline and PAID 30,000/-. IT REALLY PINCHES.

  38. jitendra

    submit it for sub registrar with in 30 days, they refused to accept & made me fool that it can submit only @ that window wherein you got your property registered & paid stamp duty. I reached on 29th working day over there & waited whole day but there server was down subsequently on next day too. in this situation on next day registrar office denied to punch it that now it can’t accept because 30 days exceed & they are forcing me to get mortgage date changed from respective bank. so they can get it punch. Please suggest whose fault in this situation ? my loan account no. with SBI home loan – 33969588950. E challan no – MH001891704201415R.

    • Integradmin

      Unfortunately these are tactics being used by these government servants to extract money from gullible citizens. In such situations you must meet the Registrar himself directly or ask them reason for refusal in writing.
      Rgds
      Integradmin

  39. AMIT

    Hi..
    Very informative stuff

    I also have missed mortgage intimation date by just one day and that is pinching a lot…

    Here two things I would like to understand.. please share information..

    1. If mortgage intimation time limit (30 days) is missed then in that case can Bank re-execute mortgage agreement (with 0.2% franking charges + some nominal documentation charges as earlier) allowing fresh 30 days to submit such intimation to the Registrar ? or one has to go for registration of mortgage only by incurring Rs.30K (max) ?

    2. If mortgage deed is registered by incurring Rs.30K(max) after time limit for submission of notice of intimation then, one can relieved from the consequences of non-submission of mortgage intimation within 30 days of time limit ?

    • Integradmin

      Hi Amit
      Thank you for writing in. Responses to your points:
      1. Re-execution of mortgage agreement or memorandum of deposit of title deeds (MOD) is not allowed by banks because they make the entry of mortgage in CERSAI (Central Registry of Securitisation Asset Reconstruction and Security Interest of India) website, mandatory statutory record keeping. Hence the only option is to register the same.
      2. Yes
      Trust this clarifies.
      Regds
      Integradmin

  40. Anshul

    Hi,
    I have registered my property in Pune. However, i’m staying in Mumbai as of now. I have to get stamp paper to complete the home loan registration process. Can I buy a stamp paper in Mumbai and then submit it at sub-registrar office in Pune (where i have registered my property)?

    Please reply – URGENT !!

  41. Lakshmikant

    My property is in Mumbai n i have taken loan from Chandrapur. The bank has created EM at Chandrapur on applicable stamp which is over rs 5000/-. The SR office selected was Chandrapur for EM document. When i go for NOI in Mumbai where my property is regd the agent says that SR sh hv choosen Mumbai when e-stamp purchased for EM. What sh be done pls advice.

    • Integradmin

      Dear Lakshmikant
      Ideally you have to select the SRO where the property is registered or within its jurisdiction. Kindly refer the FAQ on igr website for further clarification & seek the help of Chandrapur SRO for a solution.
      Rgds
      Integradmin

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