The Mumbai Property Card is an official document, providing detailed information about land ownership in Mumbai city. It serves as legal proof of ownership and verifies the property's legal status. It includes detailed information such as the owner's name, survey number, property dimensions, type, tax details, and encumbrances, if any.
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Can I use a Property Card for bank loans?
Absolutely. The Property Card is one of the key documents required for property-backed loans.
Can I transfer ownership using a Property Card?
No, the Property Card is only a record of ownership; transferring ownership requires registering a sale deed or gift deed with the sub-registrar.
Can I use a Property Card for property tax payments?
Yes, the Property Card provides essential details needed for calculating and paying property taxes.
Does a Property Card show pending litigation on a property?
Yes, if the property is involved in any legal disputes, the details are usually mentioned on the Property Card.
Is a Property Card mandatory for selling a property?
Yes, a Property Card is crucial as it serves as proof of ownership and ensures the buyer about the legal status of the property.
How is a Property Card different from a 7/12 extract?
The Property Card is for urban properties, while the 7/12 extract is primarily for rural land records. Both documents provide ownership details but cater to different types of properties.