Prasad (Home) 08 July 2014

Home mortgage documents registration (navi mumbai)

Hello,

I have bought a under-construction flat by bank loan in Navi Mumbai in February 2014. I heard from many people that i need to register the home mortgage documents within 30 days.

I am not aware about this law. My home loan interest payments (Pre-EMI) has started in March and will start principle after possession.

I wanted to know following things:

Do i need to register documents with registrar?

I have bought new under-construction property, so is that registration applicable to me?

What are the consequences if its not registered?

Please advise. Thanks in advance.

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2 Replies

kavksatyanarayana (subregistrar/supdt.(retired)) 08 July 2014

how the bank sanctioned loan without a mortgage deed? did you take personal loan?

Prasad (Home) 08 July 2014

Sorry, i did not mentioned it,

I have done flat registration i.e. sale deed. What i have heard that the Govt. of Maharashtra has come with some new things from 2013 that when you take home mortgage you again need to register those documents.

No clue apart from this.