K2 challan

The term MODT means “Memorandum of Deposit of Title Deed” Memorandum of Deposit of Title Deed or MODT is applicable for all home loan borrowers. It is essentially an undertaking given by you that you are depositing title documents of the property with the bank of your own free will in return for a loan. Following are title documents deposited in the bank under MODT • Mother deed • Sale deed • Sale Agreement • Encumbrance certificate • Tax paid receipt • Khata certificate & extract • Occupation certificate • and additional documents applicable for land like RTC, layout plan, building plan, etc. You may ask your banker if MODT registration is necessary or not. The most bank does MODT registration and few banks don’t do MODT registration. For Example, All SBI does MODT registration. Few HDFCs doesn’t do MODT registration. If MODT is registered, the bank’s name reflects in the encumbrance certificate. If MODT is not registered, the bank’s name doesn’t reflect in the encumbrance certificate. In the below encumbrance certificate, we encircled the bank details for your reference. However, Irrespective of MODT is registered or not, the bank collects all the title documents, which include sale deed, sale agreement, and latest encumbrance certificate. MODT is part of state government requirement, MODT charges differ from state to state in India. Below are the government charges for MODT registration (in Karnataka) • Stamp duty: 0.2% of loan sanctioned amount • Registration: 0.1% of ...

The Discharge Deed is issued by lender. Discharge Deed discharges each party from their mortgage obligations. ---------------- Once the full and final settlement of dues is paid in respect of MEMORANDUM FOR DEPOSIT OF TITLE DEEDS (MODT), the bank will issue following documents, stating that dues have been cleared and request to proceed discharge deed • No Objection Certificate (NOC) • Discharge deed • Title Deed The NOC looks like the below image on bank’s letterhead DISCHARGE DEED looks like the below image TITLE DEED is the list of documents that you handed over to bank at the time of MODT registration, Bank will hand back those documents. TITLE DEED includes registered deed and Khata. ----------------------------- The next step is to discharge the mortgage lien registered in sub-registrar office: For your better understanding, let me give a real example that how I removed mortgage lien of my property in sub-registrar office, On 20th August 2015, we registered the MODT with State Bank of India (SBI) in Basavanagudi sub-registrar office. In Encumbrance Certificate, column 5 represents the seller and Column 6 represents the buyer. In MODT registration, bank's name reflects in buyer column 6, we encircled the bank details below On 22nd March 2016, we paid the full and final settlement of MODT dues, the settlement date has been encircled in below discharge deed issue by bank On 26th May 2022, we collected the following documents from bank • No Objection Certificate (NOC) • D...

Khajane 2 Login:The finance department of Karnataka has incorporated an integrated financial management system, IFMS. It creates comprehensive management for the functionaries of the finance department. The finance department, the government of Karnataka, defines the web portal as Khajane II, and it establishes on the web portal as k2.karnataka.gov.in. The purpose of the portal is to take care of the treasury activities. The agencies and individuals who seek the services from treasury departments will need to register themselves in Khajane 2 login. Department of Treasuries, Government of Karnataka designs, develops and maintains web applications and govt authorizes for specific users. Khajane 2 Login K2 Karnataka Challa Payment Status Details: Purpose of Khajane II: The government of Karnataka has simplified the payment facility. Now customers can payments from anywhere and anytime. With the introduction of a new facility of e remittance mechanism, a customer can remit to the government through the following payment modes. They are: • K2 Challan, • K2 Challan generation, • Challan generation forms Benefits: The service providers and government departments can benefit the most from the treasury department portal. It defines many functions of the portal khajanae2.karnataka.gov.in features that serve customers purposively. 1. The treasury department uses the web portal and provides a good work experience to the customers. 2. It entertains customers to make bill deposits, pay ...