Kaagazaat

Simple Mortgage Deed

At a glance

Price: ₹799 · GST included
Stamp duty: Punjab: mortgage-deed article, Schedule I-A; rate turns on possession, unconfirmed here — get it from the tehsil Sub-Registrar or adjudicate (s.31). Chandigarh: the live calculator shows 2% without possession, 4% with, 3% for a bank mortgage — confirm at Sub-Registrar UT Chandigarh Sector 17.
Registration: S.59, TPA 1882: a ₹100+ mortgage needs a registered, signed, two-witness instrument — compulsory (s.17(1)(b)); present within 4 months (s.23), extension/fine under s.25.
Witnesses: Two witnesses required by s.59 for a ₹100+ mortgage.

₹799

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Also called

registered simple mortgage
simple mortgage security deed

Whether you can fill this in here

You can fill this in here

You can fill this one in on this site, and read the whole draft on screen before you decide anything about it. It is a carefully drafted template; it is not advice about your own facts.

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Why you need it

When you need it

A conventional simple mortgage: the mortgagor keeps possession and personally undertakes to repay. S.58(b), TPA 1882: no delivery of possession, a personal repayment covenant, and an agreement that on default the mortgagee may sell the property and apply proceeds to the debt. Principal ordinarily exceeds ₹100, so s.59 needs a registered instrument and two attesting witnesses. States the debt, property, title, prior charges, defaults, remedies and redemption. Not an English mortgage (no absolute transfer) or equitable mortgage (originals alone aren't enough).

See stamp duty, registration and witnesses

What follows is written for Punjab and Chandigarh. It states the position there rather than describing how it varies, so the amounts below are the ones that apply — worth confirming at the sub-registrar’s office, because rates change. If the property is anywhere else in India, none of this is yours.

Stamp duty

Punjab: mortgage-deed article, Schedule I-A; rate turns on possession, unconfirmed here — get it from the tehsil Sub-Registrar or adjudicate (s.31). Chandigarh: the live calculator shows 2% without possession, 4% with, 3% for a bank mortgage — confirm at Sub-Registrar UT Chandigarh Sector 17. Stamp by signing (s.17); unstamped instruments are inadmissible until duty+penalty are paid (s.35).

Registration

S.59, TPA 1882: a ₹100+ mortgage needs a registered, signed, two-witness instrument — compulsory (s.17(1)(b)); present within 4 months (s.23), extension/fine under s.25.

Notarisation

Not a substitute for registration or validity.

Witnesses

Two witnesses required by s.59 for a ₹100+ mortgage.

Talk to a lawyer about this document₹3,539 including GST (₹2,999 + 18% GST), per documentRequest Stamp Paper

Sample preview — placeholder answers, not your data

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SIMPLE MORTGAGE DEED

Deed date: 1 April 2026

PARTIES AND DEBT

Mortgagor: Aarav Sharma, Sector 21, Panchkula. Mortgagee: ABC Bank Ltd, Sector 17, Chandigarh. Loan reference: HL-2026-118. Purpose: Home loan/purchase finance.

Principal secured: ₹90,00,000 (Rupees Ninety Lakh only). Interest: 8.5% per annum. Repayment term: 180 months.

MORTGAGED PROPERTY

Property: Plot 118, Sector 66, SAS Nagar, Punjab (Residential house/plot), Plot 118, Sector 66; conveyance deed 2345/2022., situated in Punjab. Possession: Mortgagor remains in possession.

MORTGAGOR COVENANTS

Repayment covenant: Mortgagor personally covenants to repay secured money and agreed interest. The mortgagor confirms authority to mortgage the stated interest and will not create an inconsistent transfer or security without the mortgagee's consent where the loan documents require it.

Prior-charge position: Property is represented free from prior security interests disclosed to lender.

Title-document schedule: Conveyance deed 2345/2022; mutation 118/2022..

DEFAULT AND REMEDIES

Material defaults: Failure to pay scheduled sums; unauthorised transfer; material impairment of security.. On enforceable default, the mortgagee may pursue the remedies lawfully available for a simple mortgage and the governing loan/security documents; no clause in this deed authorises self-help contrary to law.

What this document is for

A borrower taking a loan against a house, flat, plot or commercial property in Punjab or Chandigarh — and the lender giving that loan — use this when the security is a straightforward simple mortgage: the borrower keeps the property and stays in it, but formally promises to repay and lets the lender sell the property to recover the money if repayment stops. It sits alongside the bank or lender’s own loan paperwork rather than replacing it — the loan agreement fixes the commercial terms, and this deed is what actually creates the lender’s charge on the specific property.

It exists because a loan agreement alone gives a lender no enforceable claim on a particular property — creating that claim over immovable property is something only a registered instrument can do once the amount involved is more than a token sum. Once this deed is registered, the lender’s charge sits on the public record at the Sub-Registrar’s office, which is what protects the lender if the borrower later tries to sell, gift or mortgage the same property to someone else.

Before you use this — check whether the property needs permission to mortgage first

A site allotted by a Punjab development authority — PUDA, GMADA, GLADA and the like — cannot be mortgaged without that authority’s own prior permission, given only to the person on its allotment file; a Chandigarh leasehold site needs the Estate Officer’s permission in the same way, a notified service under the Right to Service framework. Neither permission is something this deed itself obtains, and skipping it does not stop the deed from being executed, only from doing what the parties actually intend. Settle it with the allotting authority or the Estate Office before signing, not after.

Stamp paper and registration

Stamp paper needed

Yes

Typical stamp duty — Punjab

Ask us — The template this deed is grounded in says the Punjab mortgage-deed rate turns on whether possession is handed over, and states plainly that the figure is unconfirmed from the sources checked — get it from the tehsil Sub-Registrar, or have it adjudicated under section 31 of the Indian Stamp Act, 1899, before buying stamp paper.

Typical stamp duty — Chandigarh

Ask us — A commonly cited Chandigarh position is 2% of the amount secured without a transfer of possession, 4% with possession transferred, and 3% where the lender is a bank — but this comes from an online duty calculator rather than a checked, notified schedule, and it changes with the exact structure of the mortgage. Confirm it at the Sub-Registrar, UT Chandigarh, Sector 17, before relying on it.

Registration at the Sub-Registrar

Yes — Compulsory once the amount secured is more than Rs 100, which any real loan against property will be — section 59 of the Transfer of Property Act, 1882 requires a registered, attested instrument, presented within four months of signing, with a further period available on payment of a fine.

Notary or witnesses

Two witnesses are a legal requirement here, not just good practice — section 59 will not treat this as a validly executed mortgage without them. Notarising the deed on top of that adds nothing; it is not a substitute for registration.

What you will need before you start

Both the borrower's and the lender's full details, and the loan or sanction reference the deed should quote
The property's full address, type and official identifiers — plot, khasra, khewat or allotment references — and which of Punjab or Chandigarh it sits in
The secured amount, the interest rate and the repayment term already agreed with the lender
A clear answer on possession — a simple mortgage leaves the borrower in possession, so say so — and on any prior charge already existing on the property
The schedule of title documents that support the mortgage
Two witnesses who can attend execution, and, if the property is a development-authority allotment or a Chandigarh leasehold site, that body's prior permission to mortgage

Common mistakes

Assuming a simple mortgage hands the lender possession of the property — it does not; the borrower stays in possession throughout, which is the defining feature of this particular mortgage structure.
Signing this deed over a development-authority allotment or a Chandigarh leasehold site without first getting the allotting authority's or the Estate Officer's permission to mortgage.
Treating stamp duty on this deed as if it were the same low, flat charge that applies to a simple deposit of title deeds — a registered simple mortgage under this deed is charged on a different basis, and Punjab's own rate depends on the possession position.

Questions people ask before using this document

Does a simple mortgage deed in Punjab or Chandigarh need witnesses?

Yes, two of them, and this is a legal requirement rather than a formality — section 59 of the Transfer of Property Act, 1882 will not treat an unattested mortgage instrument as validly executed once the secured amount is more than Rs 100. Notarising the deed does not stand in for this; the witnesses have to actually be present when it is signed.

Does the lender take possession of the property under a simple mortgage?

No. That is the point of the simple-mortgage structure this deed uses: the borrower keeps the property and stays in it, and only makes a personal promise to repay plus an agreement that the lender may have the property sold if that promise is broken. A mortgage that does hand over possession, such as a usufructuary or an English mortgage, is a different instrument from this one.

How much stamp duty does a simple mortgage deed attract in Punjab or Chandigarh?

We do not state a confirmed figure for either place here. The Punjab rate genuinely depends on whether possession changes hands, and the drafting behind this document could not confirm it from the sources checked; a commonly cited Chandigarh figure comes from an online calculator rather than a notified schedule. Get the current rate from the Sub-Registrar before buying stamp paper.

Can I mortgage a PUDA, GMADA or GLADA allotment, or a Chandigarh leasehold site, without asking anyone first?

Not without that authority's own permission. A Punjab development-authority allotment cannot be mortgaged without the allotting authority's prior permission, given only to the person on its own file, and a Chandigarh leasehold site needs the Estate Officer's permission in the same way. Neither is something this deed obtains for you — settle it with the authority or the Estate Office before you sign.

What happens if the borrower stops repaying?

The lender may pursue the remedies the law gives a simple mortgagee, which broadly means applying to have the property sold and the proceeds applied to what is owed — not simply taking possession or disposing of the property outside that process. Nothing in this deed authorises the lender to act outside what the loan and security documents, and the general law, actually allow.

Mortgage Release Deed
For the day the loan is repaid in full and the lender's charge needs to be formally released and taken off the record.
Non-Encumbrance Affidavit
Many lenders want the borrower's own sworn declaration that the property carries no other charge before they accept it as security.
Memorandum of Deposit of Title Deeds
The document for the lighter alternative — a mortgage created simply by handing over the title deeds, rather than this registered deed.
Spouse Consent for a Mortgage
Where a spouse has an interest in the property, or the lender wants their acknowledgement, this is the separate document for that.

Questions about this document

Does the Simple Mortgage Deed need stamp paper or stamp duty in Punjab and Chandigarh?

Does the Simple Mortgage Deed need registration in Punjab and Chandigarh?