DECCAN GRAMEENA BANK

‣ Verify the genuineness of the parties involved in the Agreement of Sale and
connected documents by visiting the Builder’s office independently and
unaccompanied by the borrower or the so called builder / owner. This will take
care of impersonation.
‣ Guard against documents prepared by colour photo copying.
‣ Guard against fake document by thorough scrutiny. Personal search at Sub-
Registrar’s Office will help. Search is easier where the records at the Sub-Registrar’s
office are computerised.
‣ Guard against ‘duplicated’ (prepared again) documents copying all details from an
actual title deed, by forging the seals, signatures of the sub-registrar and also the
seller. Verification of the sale deed at the Sub-Registrar would help. In computerised
Sub-Registrar’s office the sale deed can be seen on the screen as all the documents
are scanned and stored.
‣ When the loan is in excess of Rs.15.00 lakhs, apply directly to Sub-Registrar for a
certified true copy of the document in question.
‣ Guard against duplicate title deed. Fraudsters approach for loan with duplicate copy
of the title deed. Any number of copies of the title deed can be obtained at the time
of registration by paying appropriate fees. However, the Sub-Registrar marks the
copies as ‘Duplicate’, ‘Triplicate’, etc. By carefully examining the document, this
can be found out.
‣ Xerox copy of the title deed initially submitted must be compared with the original at
the time of creating the Equitable Mortgage.
‣ While accepting Settlement / Gift Deeds for creating equitable mortgage, insist for the
original Link documents.
Verification of the property
‣ In the case of construction of a house on a plot of land, make sure that the
construction is taking place on the piece of land mortgaged to the bank and not on
any other piece of land. (In another Bank, a borrower cheated the bank by using the
loan amount to construct the house on the piece of land in the name of his wife which
was just adjacent to his plot which was mortgaged to the bank).
‣ Visit the property proposed to be purchased with the Bank’s loan and satisfy about
the existence of the property and reasonableness of the value quoted before
releasing the loan. The visit must be made once more without being accompanied
by the borrower.
‣ If the loan is for purchase of an existing flat / house already occupied, speak to the
inmates of the house to verify the name of the owner, etc. and satisfy by verifying the
tax paid receipts, electricity bills, water bill, etc. If the inmates of the house cooperate,
enquire with them regarding any dispute / litigation with the present owner
(seller) and any objection to vacate the house.
‣ A route map to the location of the property prepared by both the valuer and also the
branch official must be held on record.
‣ Verify the accessibility / approachability to the site before considering the loan.
Disbursement
‣ Margin to be routed through the Bank.
‣ Make the Banker’s Cheque in favour of Seller’s Bank Name, Seller’s Name and
Account Number also if furnished.
Crl. ADV-79 10