When it comes to property transactions, the Encumbrance Certificate (EC) holds a place of paramount importance. It’s a legal document that certifies your property is free from any financial and legal liabilities. In India, obtaining an EC has become a streamlined process, thanks to the digitisation of land records.
For those seeking significant funds, a loan against property emerges as a favoured financial avenue. Financial institutions consider the EC an essential prerequisite when processing loan against property applications. Therefore, ensuring you have a clear EC can facilitate a smoother loan approval process.
How to get encumbrance certificate online: Step-by-step guide
Wondering how to get encumbrance certificate for your property online? Follow these steps:
- Visit the official land registration website of your state.
- Navigate to the ‘Encumbrance Certificate’ section.
- Enter the required details such as property location, survey number, and year of registration.
- Click on ‘Submit’ to view the EC.
- Download and print the EC for future use.
Eligibility criteria for obtaining encumbrance certificate
- The property should be located in India.
- The property should be registered under the applicant’s name.
- The applicant should have all the necessary property details.
How much does it cost to get EC?
The cost of obtaining an EC varies from state to state. However, it is generally a nominal fee, and additional charges may apply for online services.
Documents required for obtaining encumbrance certificate
- Application form
- Identity proof
- Property registration document
- Details of property transactions, if any
Importance of encumbrance certificate in property transactions
The EC plays a crucial role in property transactions. It serves as proof that the property is free from any encumbrances, ensuring a smooth transaction. Whether you are buying, selling, or mortgaging a property, an EC is a must-have document.
Moreover, an EC is also essential when applying for a loan against property. Financial institutions require an EC to verify the legal status of the property being mortgaged.
Tips for a smooth online encumbrance certificate application process
- Ensure you have all the necessary documents and details before you start the application process.
- Double-check all the details before submitting the application.
- Make sure you follow all the application guidelines
- Keep a soft copy of the EC for future reference.
- Don’t hesitate to seek assistance from an expert, if needed
When applying for a Bajaj Finserv Loan Against Property, the EC plays a crucial role. It is used to verify that the property being pledged as collateral is free from any legal or monetary liabilities. The online EC service makes obtaining this certificate a breeze, thereby expediting the loan approval process.
Applying for a loan against property from Bajaj Finserv is simple and straightforward, thanks to the seamless online application process. Enjoy substantial loan amounts of up to Rs. 30 crore* at competitive loan against property interest rates. Benefit from quick disbursal within 72 hours* of approval and, with long repayment tenures of up to 15 years*, you can plan your finances with ease. Additionally, you may be required to provide essential property documents such as an EC card to verify ownership and ensure a smooth loan approval process.
Apply today and leverage the potential of your property to meet your financial needs.
Some related encumbrance certificate
An encumbrance certificate provides essential details about property ownership, liabilities, and transactions. It helps buyers verify whether the property is legally clear and free from loans or disputes before purchase.
