What to do in case of theft or misplacement of property documents
Nov 04, 2013
Source : The Economic Times


MUMBAI: The loss, theft or misplacement of property documents is a cause of concern for property owners since no transaction can be completed without checking the original sale deed.

It is typically regarded as the sole proof of ownership of property. In case of loss, the owner must get the duplicate documents so that the chances of misuse are minimised. Here's how.

FIR: A first information report (FIR) should be filed with the police by the owner as soon as possible. It must state clearly that the property documents have been misplaced, lost or stolen.

Advertisement: An advertisement in an English daily newspaper and a vernacular newspaper must be published, declaring the loss of property documents. The owner must wait for 15 days to see if someone finds the documents and returns the same.

Undertaking: An undertaking must be prepared on a stamp paper about the loss of property documents, along with the details of the property, a copy of the advertisement and the police complaint number. It needs to be registered, attested and notarised.

Duplicate deed: To obtain the duplicate copy of the sale deed, the owner must go to the registrar's office, where the property was registered at the time of purchase. The requisite fee must be paid and all the relevant documents must be provided at the registrar's office.

Points to note

The owner must retain a copy of the complaint, as well as the newspaper advertisement, as proof of loss and action taken.

If the property was mortgaged and the documents were misplaced by the bank, it must notify the owner so that suitable action can be taken. However, the bank must bear the cost involved in getting the duplicate documents.

Latest Realty News

Festive season brings relief to real estate, automobile market
Nov 04, 2013
NASHIK: At a time when the industrial and real estate sectors have been facing economic slowdown since the last two years, the festive season from Dussehra to Diwali brought relief to real estate and automobile sectors. From October 5 to November 3, these sectors generated business worth over Rs 300 crore in the city.
Land surveyor held for taking Rs 3,000 bribe
Nov 04, 2013
NASHIK: Even as the anti-corruption bureau's (ACB) Vigilance Awareness Week was underway, the ACB sleuths last Thursday arrested a land surveyor in Yaval tehsil of Jalgaon while accepting a bribe of Rs 3,000 from a woman.
Kolhapur Municipal Corporation to provide property cards to rehabilitated slum dwellers
Nov 04, 2013
KOLHAPUR: The civic administration has decided to issue property cards to rehabilitated slum dwellers to help them enjoy the benefits of slum rehabilitation programmes.
Cementing the future of REIT
Nov 03, 2013
MUMBAI: In a major step to fuel the growth of the country’s real estate sector, SEBI recently released a consultation paper together with the draft Real Estate Investment Trust 2013 (REIT) regulations. Issued after discussions with stakeholders, the draft regulations have been widely seen as robust and along the lines of regulations in other countries. It is critical that the initial REITs prove successful for investors so that they can become a stable platform for providing developers exits fro
SEBI cracks down on an illicit real estate scheme
Nov 02, 2013
MUMBAI: Market regulator SEBI on Friday barred Servehit Housing & Infrastructure India and its directors from raising money from public after a probe into mobilisation of funds by the company through alleged illicit real estate scheme.
'Premium housing prices may fall soon on inventory pile-up'
Nov 02, 2013
MUMBAI: Investorscan look forward to premium housing units getting cheaper by up to 20 per cent and gold prices rising significantly this festive season, says a financial advisory firm.
Large office spaces see few takers as slowdown bites
Nov 01, 2013
MUMBAI: The quantum of large commercial space leased out dipped sharply last quarter. While Delhi saw a drop of 91% sequentially and 66% over the March quarter, the trend in Mumbai was only slightly better — the fall was 50% sequentially and 62% over the January-March period. Indeed, there seem to be few takers for office space of more than 1 lakh square feet — just 1.2 lakh sq ft was rented in Delhi in the September quarter while in Mumbai the area was 2.5 lakh sq ft.
Vastushodh Projects gets PE funding
Nov 01, 2013
PUNE: Mumbai-based PE fund Avenue Venture Partners Real Estate Fund has invested in one of the projects of Vastushodh Projects, a Pune-based developer of houses for the middle and lower income group.
Bombay HC finds Hirco arm prima facie loan defaulter
Nov 01, 2013
MUMBAI: The Bombay High Court has asked a subsidiary of real estate firm Hirco Plc to disclose all its assets in an interim order that observed that prima facie Hiranandani Palace Gardens has defaulted on loan repayment to Tata Capital Financial Services.
DLF profit falls 27%, hit by slowing home sales
Oct 31, 2013
MUMBAI: DLF LtdBSE -0.07 %, country's top real estate developer, posted a 27 per cent fall in its consolidated net profit for the July-September quarter, hit by slowing home sales in Asia's third-largest economy.

Latest Realty News Of State

Realty Talk's