Monday, 29 February 2016

What is EC (encumbrance certificate)?


 What is EC (encumbrance certificate)?
The encumbrance certificate is a mandatory document used in property transactions as an evidence of free title/ownership. When buying a house, flat or plot, it is important to verify that the property does not have any monetary or legal dues. And encumbrance certificate (EC) ensures that there is a complete ownership of the property without any monetary or legal liability. The EC for property can be obtained from the sub-registrar’s office where the particular property has been registered. #b khata loans in Bangalore

Importance of an EC
The encumbrance certificate is important for those applying for a home loan or obtaining a loan against property or when one wants to sell or buy a property. “Encumbrance” means that the liabilities created on a particular property, whereby it is held as a security for any debt of its owner, which has not been discharged as on date. An encumbrance certificate contains all the transactions registered relating to a particular property for a certain period (as required). These details also consist any claims or encumbrance on the property. #B khata Home Loans
Government authorities and financial institutions like banks usually demand 10-15 years of encumbrance. However, you can also ask for up to 30 years encumbrance certificate to be checked. If you still have doubts, you can take a Possession Certificate of the ownership of the particular land, which is available from the village office.

What is Form no.15 & 16? 

 The encumbrance certificate is issued in Form No. 15 and 16. If the property does not have any encumbrance during the said period, Form 16 will be issued i.e., certificate of Nil Encumbrance. If the property has any encumbrance registered during the said period, then form No. 15 will be issued. The certificate in form 15 reveals the documents registered with respect to the property, nature of the encumbrance such as gift, partition, lease and mortgage, the parties involved, the registered number of the document and other details in a date-wise manner. #b khata housing loan

Note that, if you are asking an EC for a particular period, you will get the details only for that period and not more. The details will be given from the entries available in the register available with the sub-registrar.

How to obtain an EC?

Given below is the procedure to obtain an EC.

• First and foremost, download the Form 22. Affix it with Rs 2 non-judicial stamp and address to the Tahsildar, giving an attested copy of your residential address and the purpose for which the certificate is required.
• Provide the details of ownership such as correct survey number and place where the property is situated. It is very important that the period and full description of the property are mentioned clearly in the application.
• The requisite fee needs to be paid. The fee is to be paid according to the period of encumbrance. The encumbrance year commences from April 1st of a calendar and closes on March 31st, of the next calendar year. The EC is also usually provided in the regional language. An English translation may be obtained by paying an additional fee.
• The application should be submitted to the jurisdictional sub-registrar’s office, under which the property is registered.

Time Duration?

The time taken to obtain an EC is usually 15-30 working days. 

While an EC may give the details of the encumbrance on a property, there are certain documents that are exempt from being registered at the sub-registrar’s office. As such, these will not appear in the EC. Hence, it is advised that the buyer obtains both the EC and possession certificate as a proof of complete ownership of the property. #b khata construction loans

For loans: 

For construction:


Thursday, 25 February 2016

Procedure for Registration of site & Documents Required in Bangalore


The registration can take place at the Sub-Registration Office within which the property is located or in the District Sub-Registrar Office of the District where the property is located.

Property Registration in India is compulsory under section 17 of the Indian Registration Act, 1908. The registration of property is to be done in the Registrar’s Offices by the Sub-Registrar. 
Verify the property title :-

The property documentation will vary depending on whether the property is being transferred from the developer or seller. The process of due diligence gets easier in case of a secondary sale as the first owner of the property would have all the documents in place for the registration of the property. If the title were not clear and marketable, most financial institutions would refuse to finance the property. A bank or a housing finance company carries out the due diligence process before approving the project and the housing loan. However, the onus lies on the buyer to verify the property title before registration.#bkhata loans in bangalore 
Find Sub Registrar Office :-

One has to present the Sale Deed in the concerned Sub-Registrar Office where the land is situated. Your lawyer or attorney will help you to find your property location and concerned registrar office.#b khata Homeloans 
Stamp Duty and Sale Deed :-

The Schedule of the property should be correctly mentioned in the Sale Deed and if any structure is situated over the landed property that has to be mentioned in the Sale Deed along with its cost. Preparation of property Sale Deed is done by an authorized attorney on behalf of the purchaser. The stamp duty is usually a percentage of the transaction value levied by the state government, on every registered sale. The levy of stamp duty is a State subject and thus the rates of stamp duty vary from State to State.#b khata construction loans 
Take appointment :-

The registration fee should be paid a few days before going for registration and the receipt is to be shown to the Sub-Registrar’s Office one day before the actual date of registration. An appointment has to be taken over the phone and registration has to be done at the office of the Sub-Registrar.#b khata site purchase loans 
Submission of Documents :-

After detailed verification of Sale Deed, the registration process will be completed as per the Registration Act. Once the registration is complete the duly registered document may be collected by signing in the dispatch register or by giving a letter of authority to someone to collect it on your behalf. The final sale deed should be stamped and registered at the appropriate Sub-Registrar’s Office. The sub-registrar keeps a copy of the documents and returns the original documents to the buyer within 30 minutes.#bkhata loans Agency .
Mutation of the title :-

Once the registration is complete, the purchaser has to apply to the local municipal authority to get the title of the property concerned transferred in his/her name. This is commonly referred to as mutation of the title of the property.Now the process or registration of properties in India is computerized. Under the computerized Land and Property Registration system, registration is easy. It facilitates transparency in valuation and eliminates middle men. The application form can either be downloaded online or obtained from the concerned authority’s office. After due verification of details, the Deed is drawn up and the registration process is complete. Before purchasing land, you have to make sure you do proper research work about the form of land, buy lands through genuine and authentic seller, developer, brokers or agents.Whenever a property buyer buys a piece of land/immovable property, he/she needs to register the same with the authority concerned. The law does not recognize unregistered owners and does not give them any rights over the property. Registration of the property is a full and final agreement signed between the two parties and once it is submitted at the local registrar’s office and the registration is complete, the buyer legally becomes the owner of the apartment.#loans for bkhata

Documents required for registration :

The property coming under jurisdiction of BBMP (Bruhat Bangaluru Mahanagara Palike), gram panchayat, town panchayat, municipalities and municipal councils or any corporation in the state requires six important documents.

The lists of documents required are as follows : 
Khata and tax determination receipt issued by BBMP or corporation
An affidavit,Sanction plan or Conversion certificate, if the property is on converted land,Title deed or allotment order or possession certificate or sales document, if property is given by government department or agencies,PAN issued by Income Tax Department or Form 60 and 61 if the property values more than 5 lakhs.
Declaration in form 1 under the Karnataka Stamps Rules 1977

For loans: 

For construction:


Tuesday, 23 February 2016



What is Plan Approval?

A Plan Approval is a written approval from the Department which authorizes a person to construct, assemble, install or modify any stationary air contamination source. It also includes the installation of any pollution control equipment or device.

Building Plan Approval Process and Procedures

In order to get the building plan approved, we need to deal with the local authorities.

Document required

• Application letter using original letter head indicating application reference and proposed construction.

• A copy of landownership or land title which has been certified as true copy by Commissioner of Oaths or Justice of Peace.

• Copies of valid documents such as power of attorney/sales and purchase agreement/tenancy agreement if the owner is different from the list of names in the landownership or land title.

• Six ( 6)sets of building plans property arranged ans folded in A4 size ,which has been prepared by a professional consultant.

General information to be indicated in the plan:

Title of the plan should contain the following:

• Type of building

• Total number of units

• Total number of floors

• Lot number/land title number

• Road/Street name

• Section name

• Names of owner and company

• Address of building owner

Building plan should be complete with the following information

• Well defined location plan and clear site plan with a scale of not less than 1:1000 or more, whichever is suitable. Name of road/street leading to the proposed site should be shown in the location plan.

• Floor plan, vertical elevation plan (front, rear and side), section and roof plans with a scale of 1:100 or 1:200 (according to building size). Drainage and sewerage layout plan should be indicated clearly in the site plan.

• Road layout plan, entrance road access and vehicle parking lots together with traffic flow shown either in the site plan or separately.

• Indicate calculation on: plot ratio, calculation of vehicle parking lots (car, motorcycle and lorry where relevant), volume capacity of solid waste disposal area

• Indicate clearly building set backs from land boundary in compliance with DBKK requirement.

• Indicate clearly calculation of building floor area in accordance with usage such as residential, office, commercial, and others for the purpose of calculation of plan processing fee.

• All plans must be signed by the consultant, building owner and land owner and all signatures must be original signatures.

• All drawings must be colored.

• Form 81 should be completed and stamped on the first page of every set of building plans submitted.



Friday, 19 February 2016

Home Loans Service Provider in Bengaluru


 In recent times, Bangalore has witnessed phenomenal growth in population due to various reasons such as pleasant weather conditions, better career opportunities and the like. As a result of this, there has been a rapid increase in the demand for house and house-sites here. In order to cater to this increasing demand, a large number of Developers and Property Dealers have come into picture and have been forming private layouts without following the mandatory procedure and requirement of law making the innocent purchasers to suffer. To avert this mishap, it is necessary that the intending purchasers of immovable property in Bangalore have some knowledge about the nature of the property proposed to be purchased by them to save themselves from the risk of investing in the immovable property with no valid and marketable title.#bkhata loans

There are only two authorities, which have been authorized to approve layouts in and around Bangalore viz., Bangalore Development Authority [B.D.A.] and Bangalore Metropolitan Rural Development Authority [B.M.R.D.A]. While the BDA approves the layout plans for formation of layouts in the lands falling within the metropolitan areas, BMRDA approves layout plans for formation of layout in the lands situated in the outskirts of Bangalore. Getting approval for the land conversion and layout formation from BMRDA is less time consuming, less expensive and easier when compared to procedure laid down by the BDA.#b khata loans in bangalore

Comprehensive development plan: For planned development of a city, proper road network, parks, open space, civic amenities, and a proper approved layout is necessary. BDA is the authority in charge of planning and development to Bangalore Metropolitan Area. Comprehensive Development Plan [CDP] is prepared by BDA under the Karnataka Town and Country Planning Act, 1961. The last CDP was prepared and approved by Government in the year 1995, which is still in force.

Zonal Regulations: In order to promote public health, safety and the general well-being of the community, it is necessary to apply reasonable limitations on the use of land and buildings. This is ensure that the development of the city takes place in accordance with the land use plan as proposed in the CDP in a most appropriate and healthy manner. Generally, CDP is valid for a period of 20 years from the date of preparation of the plan. The following are the classification of land uses for various zones: #bkhata loans cum constructions

  • Residential
  • Commercial (retail and whole sale business)
  • Industrial (light and service industries, medium industries and heavy industries)
  • Public and Semi-public Utilities and Services.
  • Parks and Open space and playgrounds (including public recreational area)
  • Transportation and Communication.
  • Green-belt area

Unauthorised Layouts: Sites formed in unauthorized layouts are called Revenue Sites. The lay-outs which are formed without following the mandatory procedure and the requirements of law are called unauthorized layouts and can be classified into two:
1.Converted land unauthorized layout: In this type of layouts, sites are formed in the lands which are converted from agricultural to non-agricultural residential purpose after obtaining conversion order from Deputy Commissioner and in conformity with the zonal regulations but without obtaining approved layout plan from the competent authority. Village Panchayat are not competent to approve the lay-out plans.
2.Agricultural land unauthorized layout: In these layouts, sites are formed on the agricultural lands not converted and without obtaining approved layout plan from the competent authority. Purchase of this type of site is very risky as marketable title would not be available to the purchaser. Sites formed in either of the classification referred to above are called as revenue sites. In such sites, electricity, water, sanitation and civil amenities will not be available to the site owners though providing of these facilities are the mandatory requirements as envisaged under the Karnataka Town Planning Act, 1961.#panchayat khata loans

In formation of sites in these unauthorized layouts, Developers play a key role. In order to achieve maximum saleable area, the width of the road and the space allotted for providing civic amenities would not be as per law. The only intention of the developers in such unauthorized layouts would be to enrich themselves without providing even the basic amenities to the buyers.

Purchasing sites formed in the converted land unauthorized layout is comparatively better option to the one formed in the non-converted agricultural land. However, purchasing sites in unauthorized layouts will not convey valid and marketable title to the transferees. In fact, Bankers even refuse to provide loans for such sites either for the purchase or for putting up construction thereon. Thus, sites in unauthorized layouts are not recommended for purchase.

Approved Layouts:It is advised that the people who are desirous of purchasing house site may prefer to purchase sites in approved layouts for the reason that water supply, underground drainage street lights, electricity supply, civic amenities are available in these layouts. Valid and marketable title is conveyed to the purchasers. Value of sites appreciates considerably. Housing loan facilities can be availed for purchase of site and for construction and above all it is easy to dispose of these sites whenever needed. The following types of sites are suggested for purchase: 

Tuesday, 16 February 2016



Sarjapur Road                      Whitefield                             Bannerghatta Road

Electronic City                      JP Nagar                               Hosur Road

Yelahanka                            Hesaraghatta Main Road        Devanahalli

Marathahalli                         Hebbal                                  Kanakapura Road

Anekal                                 Hennur Road                         C V RamanNagar

Jalahalli                               Ramamurthy Nagar                Brooke Field

Jakkur                                 Abbigere                               Rajanukunte

G M Palya                            Kundalahalli                          Madiwala

Chandapur                          Gottigere                              Nagarbhavi

Belandur                             Hoskote                               Kodigehalli

Chikkajala                           Thanisandra                         Sarjapur

Hegde Nagar                       Jigani Industrial Area            Mathikere

Begur Road                         Banaswadi                           Uttarahalli

Banashankari                      Bagalur                                Horamavu

KR Puram                           Bommanahalli                       OMBR Layout

Mysore Road                       Tumkur Road                       Vidyaranyapura

Mahadevapura                     Chikkaballapur                     Hulimavu

Hoskote                               Kudlu Gate                          RBI Layout

Hoodi Village                        Huskur                                Hebbal

Tippasandra                         Naganathapura                    Yeshwantpur

Ulsoor                                 ITPL                                    Doddaballapur

Kaggadaspura                      Nagwar                               Attibele

Padmanabhanagar               Kengeri                                Peenya

Magadi Road                       NelaMangala                        Sahakar Nagar

Dodballapur Road                Outer RingRoad                    Vigyan Nagar

Basavanagudi                      Mallesh Palaya                      Bellary Road

Sadaramangala                    Anjanapura                           Nagawara

Doddaballapur Road             Nandi Hills                            Bommasandra  
Pai Layout                           Sadaramangala                     Kempapura 
Prashanth Nagar                  Hennur