Central Electronic Registry

Central Electronic Registry was announced in the budget speech for 2011-12 and later the Government notified the its establishment with an objective to prevent frauds in loan cases involving multiple lending from different banks on the same immovable property. This Registry has become operational on March 31, 2011. The Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI), a Government Company licensed under section 25 of the Companies Act 1956 has been incorporated for the purpose of operating and maintaining the Central Registry under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act).

For potential home buyers, the registry will be of immense help and they can check if the property has a prior record of unresolved multiple lending from different banks.