Registered mortgage
deepak das
(Querist) 12 October 2014
This query is : Resolved
i have applied for a business loan in a bank for 4.00 crore against a collateral security i e my house. title of the property is in the name of Vitthal Das HUF. the bank is raising many issues in mortgaging the property. at the end they have asked for registered mortgage of property. i want to know the maximum amount of stamp required in registering the mortgage. and is there any other way out for my case . plz help me out
ROHIT SHARMA
(Expert) 12 October 2014
1. If the bank have said that you can avail of such loan upon having a registered mortgage of the property then their legal department could and would also be knowing the amount of the stamp duty.
2. You can get more authenticated information in this context from the sub-registrar's office.
Anish Thakur 7018812737
(Expert) 12 October 2014
The stamp and regitration fees are different from state to state .,kindly check your state stamp act or registration fees act in this regard or consult your local revenue office.
ajay sethi
(Expert) 13 October 2014
agree with experts
Rajendra K Goyal
(Expert) 13 October 2014
Stamp duty differ from state to state, may confirm from registrar office or local lawyer.
Bank is not justified in asking for registered mortgage, when equitable mortgage can be done at very nominal / nil expenses. If the documents are discrepant the registered Mortgage would not serve the purpose / will not keep the interest of the Bank intact. Whether the title documents of property are duplicate?
You should represent the matter to Law department of the Bank for taking equitable mortgage.
Dr J C Vashista
(Expert) 13 October 2014
Where is the propeerty under mortgage located? Incomplete information.
I fully agree with expert Sh. Rajedra K Goyal bank is not justified.
T. Kalaiselvan, Advocate 
(Expert) 18 October 2014
Expert Mr. Rajendra K Goyal is absolutely right, once when the Bank will not be able to secure the property out of equitable mortgage, even the registered mortgage will not be of any help to them in the HUF property against which the intended loan is to be granted. the stamp duty will differ from one state to another.
