i am Babu from chennai.i am planning to buy a flat in chennai.Everybody says to check EC.Anybody know EC mean?

Question

i am Babu from chennai.i am planning to buy a flat in chennai.Everybody says to check EC.Anybody knows EC means what & how i need check it? where i need to check?Can i check in net?Please tell me..

Answer 1

EC means Encumbrance Certificate.
Transaction history of all the properties are maintained by the Tamilnadu Registration Department. From the EC you can find out who is current owner of the property and whether any lien have been created on the property. For example if the property has been pledged for availing a loan it will find place in the certificate. Similarly if part of the property has been sold out that also will be revealed.
You have to get the details of property such as Survey Field No. or the Registration No. of the documents to apply for the same.
You can do that on net. You have log on to Registration departments website for a step by step guidance: www.tnreginet.net/

Answer 2

EC refers to Encumbrance certificate. Encumbrance refers to that the property under question has been suffered or encumbred for a loan or towards some agreement. In otherwords, the property in question has been mortgaged towards loan or not. You need to check the EC to confirm that the property belongs to the present owner and you can get details of the previous owners also. A clean EC refers to that the property in question is free from encumbrances and the title of the seller is good.

To verify that the said flat is free from encumbrance you need to approach the Registrar for Registration together with the details like survey no, address etc. You need to make an application for the EC which will be responded in short time. It is safer to have ECbefore you finalise the sale transaction.