Equitable mortgage by deposit of title deeds
Tarun
(Querist) 28 June 2013
This query is : Resolved
A company has a property located in Gujarat and the Property is leased with Gujarat Industrial Development Corporation. The Company has got lease deed registered with the Department. According to one of the conditions of the Lease Deed, the Company was required to pay 1% value of Land in case it intends to mortgage the immovable property in favour of its Bankers.
Hence, the Company paid said fee with the office of Sub registrar and obtained NOC from GIDC for Mortgage to be created in favour of Bankers.
Query:
Kindly advice, whether Memorandum of Entry to be executed between bankers and Company is also required to be registered in the state of Gujarat?
Can the Company execute documents in Delhi i.e. place of registered office of the Company and pay stamp duty applicable in Delhi.
ajay sethi
(Expert) 28 June 2013
since property is situated in gujrat advisable to have memorandum of entry to be regd in gujrat .
Tarun
(Querist) 28 June 2013
What is the fee involved involved in the registration of Mortgage deed registered.
Can Execution take place in Delhi
ajay sethi
(Expert) 28 June 2013
as far as registration fees are concerned contact local lawyer in gujrat . property is situated in guj , taken from lease in gujrat , registration ought to be done in gujrat
Rajendra K Goyal
(Expert) 28 June 2013
In case of mortgage by deposit of title deed, it can be done any where in India at the notified centers. In some states, stamp fee is also charged in such mortgage.
Documents should be registered in case of Registered Mortgage of property with the registrar in whose jurisdiction property is situated.
