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
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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