Property Card vs. Title Deed: Understanding the Differences in Real Estate Documentation

Since the launch of the SWAMITVA or ‘Survey of Villages and Mapping with Improvised Technology in Village Areas’ scheme for the rural areas in 2020 by the central government, many prospective home buyers and owners have come to recognise the term ‘property card’. However, in light of that, there are also those who might be confused between a property card and a title deed. Are you one of them? If you are, then buckle up, as we are about to clear all confusion by giving you a proper lowdown on the difference between the two important real estate documentations. 

In a nutshell, both a property card and a title deed hold a lot of significance in terms of the details they include. For a homeowner, it is generally a good idea to have both with them for their property. 

Understanding the Property Card

Imagine if you knew all about the history of the residential property you reside in or are about to purchase. Such a record would tell you everything about when the property was built to who have been its owners throughout its existence. Well, that is exactly the purpose that a property card served in Indian real estate! 

By definition, a property card is a digital document issued by the local district magistrate office that stores a lot of critical information pertaining to a particular property. Thus, it can help establish and verify the property's ownership and property details to a great degree. This 16 MB electronic document can be issued by the government upon request and is available to download in the land record portal of your state government in India. 

What's Inside the Property Card?

• Property Ownership: The Property Card confirms the name(s) of the property owner(s) – both current and former. 
• Property Description: This includes details like the property's size, boundaries, location, and any built-up area. Other critical details are village name, survey number, lease rent, etc.
• Property Transactions: Want to have a peep at all the past transactions related to the property? Well, you will find them all in the property card. 

Why is it Crucial?

So, why should home owners and property owners seek to obtain their property card? Well, first of all, a property card is your first glimpse into the property's history and its legitimacy. It helps you verify the ownership and assess whether any disputes or encumbrances are lurking in the shadows. Secondly, a property card is a way to maintain transparency in all matters pertaining to land and property jurisdiction. It even serves to bring down future paperwork involved in real estate transactions!

Decoding the Title Deed

Next up, we have the title deed! As the name suggests, this is a real estate document that bestows the title of an ‘owner’ on the rightful owners of a property. By definition, the title deed is a vital legal document that transfers property ownership from the seller to the buyer. 

As you can expect, a title deed contains the details of the property such as its description, boundaries, measurements, etc., as well as the details of the parties involved such as their names, addresses, signatures, etc. You are, therefore, likely to find everything about the property seller, the property buyer, the purchase agreement, the various clauses, etc., in the title deed. A title deed must be registered with the sub-registrar office of the area where the property is located. 

What's Inside the Title Card?

• Details of Buyer and Seller: The title deed clearly states who is selling and who is buying. It's like the guest list for your property's exclusive party.
• Property Description: Just like the property card, the title deed outlines the property's specifications, ensuring there's no confusion about what's changing hands.
• Consideration Amount: This is the moolah – the sale price agreed upon by both parties.
• Encumbrances: Any claims or liabilities on the property are declared in the Title Deed. It's like revealing the property's hidden skeletons.

Why is it Crucial?

You can consider the title deed as the "official stamp" that validates your ownership. It's recognised by the government and legal authorities, making it your shield against potential disputes. Without it, it can be very hard to prove the claim that you are the rightful owner of a property!

Closing Thoughts

Let’s sum up the difference between a property card and a title deed again: the former is an archive of a property’s history whereas the latter is an agreement between two parties selling and buying the property. Additionally, a property card does not require stamp duty or registration fee while title deed requires both.

At the end of the day, both property card and title deed are important documents for buying or selling a property in India. Therefore, before buying or selling a property in India, you should always check both the property card and the title deed of the property. a