This is the information you provided on the property.
We used this information to rate your property using our Proprietary Rating system. Rating indicates the legal health of your property in a snapshot using 7 parameters.
This indicates that the property has a clear chain of ownership, and there is also an outstanding mortgages on the property. Size of property in EC doesn't match size in patta. This property is not completely safe from legal dispute.
Our team of real estate lawyers have procured all the information about this property from government records using our robust technology platform. From the strength of these documents, we are of the opinion that the ownership of the that the ownership of the property as described in Section II is clear, and is marketable.
TIP: If you plan to purchase this property, please sort out the details of the pending mortgage.
TIP: This property is Mortgaged! This section counts for 25% of the Property Rating.The score received is 0/25.
This property has an unbroken Chain of Ownership which means that the property has passed from seller to buyer in a straightforward manner, for the past 30 years. A lawyer would refer to such a property as having a ‘Clear Title’
Executant is a person who puts something into effect. For example, the seller is an executant when he’s selling his property.
Claimant (or applicant) is a person making a claim, especially in a lawsuit. For example, the buyer of the property is a claimant.
Encumbrance Certificates (E.C.’s) Source:Maatrum | ||
S.No | Document No. | Year of Registration |
1 | 348 | 2007 |
2 | 349 | 2007 |
3 | 796 | 2007 |
4 | 552 | 2013 |
TIP: While applying for a bank loan, you may be requested to get a true physical copy of all the EC’s. To apply for the same, visit the Chennai Central Joint I SRO at No.182 Bharati Salai (Pycrafts Road) Royapettah, Chennai-600014.
TIP: To obtain a Government Copy of the Patta or to update it to reflect the latest ownership details, you can visit the Taluk office in Mylapore.
helps to understand if there are any existing loans or mortgages associated with that property. An EC is issued by the Registration Authorities of the particular taluk/village where the property lies.
A mortgage is an agreement that allows a borrower to use property as collateral to secure a loan. It is an agreement saying that the lender has the right to take action if required payments are not made on time on the loan. The lender is called a mortgagee.
A Patta is a legal document issued by the Government in the name of the actual owner of a particular plot of land. It can also be issued for lands having buildings or individual houses etc. constructed on them. Patta (revenue record) is maintained by the Tahsildar at the Taluk office.
A lease is a contract for renting out land, property, etc, to another party for a specific time period. Lessee is the person or entity that pays rent to the owner of the property
A Chain of Ownership is the sequence of historical transfers of title to a property. The “chain” runs from the present owner back to the original owner of the property. In situations where documentation of ownership is important, when selling or buying property for example, it is often necessary to reconstruct the chain of title.
This is the value used by the government to determine the minimum stamp duty to be paid by the people receiving the property.
A person who a person who puts something into effect. For example, seller is an executant when he’s selling his property.
A person making a claim, especially in a lawsuit. For example, the buyer of the property is a claimant.
Maatrum Technologies is a start-up that is creating an Indian “Online Real Estate Title Verification system” powered by technology. Our detailed report benefits everyone involved.