Yes, very important to inform sub-registrar that a bank loan is cleared

Let me give the reason with example:

I took Rs. 42,00,000 home loan from state bank of India on 27th June 2016, we registered the loan in sub-registrar office.

Once the loan is registered in sub-registrar office, the bank name reflects in column number 6 of an encumbrance certificate (EC), that means bank claims ownership of the property

As per the below EC, we highlighted the bank name in column number 6

On 12th July 2023, I repaid my home loan and obtained NOC ( & discharge deed) from bank. I showed the NOC in sub-registrar office and registered the discharge deed.

Once I registered the discharge deed, I claimed back ownership of the property from bank. Refer to my name in column number 6 of below encumbrance certificate

• To remove the mortgage lien registered in sub-registrar office, we should inform the sub-registrar office once the loan is repaid.
• Few private banks and lenders don’t register loan in sub-registrar office, they just collect the title documents and hand back the document once the loan is repaid. We do not need to inform sub-registrar office if the loan is not registered.

We provide assistance to remove mortgage lien registered in sub-registrar office. To opt for our service, please write to us pgnproperties@gmail.com or WhatsApp to + 9 1 – 9 7 4 2 4 7 9 0 2 0.

Thank you for reading…