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Property Documents: The registration department fears that photo films from the last 58 years are prone to damage and they should be digitised. Similar documents post-2002 are in a digital format.
“However, it is the borrower's responsibility also to have that list of documents that they have submitted to the bank while taking the loan and to have a copy of that because we have often seen borrowers say they do not have the original paper and also do not know what all documents they had given.”
While both parties in a property deal, along with the witness, will need to provide copies of their Aadhaar cards at the sub-registrar’s office, these will not be part of the property documents.
The Reserve Bank on Wednesday directed banks and financial institutions to release all original movable or immovable property documents and remove charges registered with any registry within 30 days after full repayment of a loan by the borrower.
The Reserve Bank of India (RBI) has directed lenders to return property documents to borrowers within a month of loan repayment, and failure to do so