Particulars of equitable mortgage of immovable properties are required to be filed with CERSAI within 30 days of creation of mortgage. [Also read Procedure for Filing the Delay Condonation Application with CERSAI for delay ]

So if someone has taken a housing loan or offered a property as collateral security in a loan, details of house/ property are filed with CERSAI

CERSAI charges some fee from banks for filing of charge known as fee for registration of security interest.  Following are the CERSAI charges:

• Fee for Search in CERSAI enquiry i.e., any application for information : Rs.10 + service tax

• Particulars of creation or modification of Security Interest in favour of secured creditors
  • 50 + service tax for loan upto Rs. 5 lacs
  • 100 + service tax for loan above Rs.5 lacs

•  Three is no fee for Satisfaction of any existing Security Interest with CERSAI

• Particulars of securitisation or reconstruction of financial assets : Rs. 500 + service tax

• Particulars of satisfaction of securitisation or reconstruction transactions : Rs.50 + service tax

[Charge on movable assets (stocks/ book debts etc.) is also required to be filed with CERSAI]

 

Following are the CERSAI penal charges i.e., Fee for delayed filing of charge with CERSAI after 30 days:

• Beyond 30 days but upto 40 days : 2 times : Rs.100 (for loan upto Rs.5 lacs) & Rs.200 for loan above Rs.5 lacs

• Beyond 40 days but upto 50 days : 5 times : Rs.250 (for loan upto Rs.5 lacs) & Rs.500 for loan above Rs.5 lacs

• Beyond 50 days but upto 60 days : 10 times : Rs.500 (for loan upto Rs.5 lacs) & Rs.1000 for loan above Rs.5 lacs

Service Tax is also levied on late filing fee.

Banks recover CERSAI charges from their customers.

 

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