What is CERSAI and How to Search property in CERSAI?

What does CERSAI mean?

CERSAI is the acronym for Central Registry of Securitisation Asset Reconstruction and Security Interest, which is a central online security registry of India

In simple words, it is an online database of all the properties mortgaged with banks. 

How?

When a Bank finance against a property, details of the said property are entered in CERSAI database by the bank. Now, if the property owner goes to another bank for loan with the forged papers, the bank will get to know that this property is already mortgaged with other bank (or may be same bank), when it search the CERSAI database.

Is it mandatory for banks to enter particulars of mortgaged immovable property in CERSAI database?

Yes, it is mandatory for banks to enter particulars of mortgaged immovable property in the CERSAI database within 30 days.

If there is delay in entering details of IP in CERSAI beyond 30 days late fee/ penalty is to be paid by the bank. See: CERSAI Fee & Charges

Also Read: Procedure for Filing the Delay Condonation Application with CERSAI for delay

Can general public search CERSAI database?

Yes, Online public search is available for general public.

What is the fee for online public search of CERSAI?

There is nominal fee of Rs.10 (+GST) per search. 

How public can search details of property in the online CERSAI database?

Go to CERSAI site https://www.cersai.org.in/CERSAI/JSP/IBACRPaymentGateway.jsp

Click – “Asset Based Search” on left panel.

Enter Asset Details

Make payment

Report will be gerated.

What is the difference between CERSAI and SARFAESI?

SARFAESI is acronym for Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act. CERSAI is a company formed as per Section 20 of the SARFAESI Act and registered under Section 25 of the Companies Act to register Equitable Mortgages created with the banks and financial institutions.