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7/12 Extract Document is essential for property transactions such as buying and selling, availing financial loans, and transferring property ownership. "SaatBara Utara" is another popular name for the extract in Maharashtra.
7/12 Extract document is the coupling of Form No 7 and Form No-12. Form-7 reveals the property's current and previous owners' names and also the details of the ownership tree pertaining to the property. Whereas Form 12 provides the agricultural history of the property.
The 7/12 Utara extract is managed by the revenue department of Maharashtra and Gujarat. Generally, the 7/12 Utara Extract Documents can be obtained in the Thashidar office issued by the Talathi and signed by the Thashidar.
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7/12 Extract Documents and it's Significance
Following are some of the significances of the 7/12 Utara extract document:
1. Proof of Ownership:
In the real estate industry, the 7/12 extract document is accepted as proof of the ownership of the properties. It is also used as evidence of property ownership in the court during property disputes.
2. Required for Legal and Financial Transactions:
The 7/12 extract document is essential for financial and legal transactions relating to the property, such as - Buying, Selling, taking a loan on the property, and transferring the ownership of the property.
3. Furnishes Revenue and Assessment Details:
The 7/12 extract document furnishes the revenue and assessment details of a property, which can be used to determine the property value and calculate the property taxes to be paid to the Maharashtra Government.
4. Shows Liabilities and Encumbrances:
Using the 7/12 Extract document, also identify encumbrances or liabilities associated with the land, for instance -mortgage or liens, which help determine the actual property value.
5. Agricultural information:
Beyond ownership information, a 7/12 extract for agricultural land provides useful insights for policymakers and agricultural initiatives. It demonstrates information such as the type of cultivation currently performed, the crops grown, and the irrigation infrastructure available on the land parcel. This knowledge is vital for understanding agricultural trends, developing tailored policies to assist farmers, and optimizing resource allocation to increase agricultural output.
6. Loan approvals:
A 7/12 extract serves a dual purpose in loan approvals: it verifies ownership and evaluates loan eligibility. Banks rely on it to ensure that the loan applicant owns the property. Furthermore, the extract's agricultural data aids in determining the land's potential yield and repayment capacity, which influences the loan amount and terms. This information is especially significant for loans secured by land, as productive property means a better chance of good harvests and timely loan repayments.
7. Tax verification:
The 7/12 extract includes information regarding the property's classification, land use, and ownership share. This information is essential for government officials to appropriately calculate property tax liabilities. By checking the extract, tax officials may ensure fair and transparent property tax collection. They can determine the applicable tax rates depending on the property's classification and ensure that all landowners pay their fair share. This helps to keep accurate tax records and decreases the possibility of errors or disputes.
8. Inheritance planning:
7/12 Extract document provides a clear image of ownership shares, which is important for property inheritance and succession planning. The 7/12 extract includes all co-owners' names and ownership percentages. This information is important for ensuring a smooth and legal distribution of inherited property to successors, and eliminating potential disputes or complications.
9. Property development:
A 7/12 extract is essential in simplifying property subdivision and development operations. It is a necessary document for authorities to check ownership information, land classification, and any existing encumbrances on the property. This information is critical for approving subdivision plans, adhering to zoning restrictions, and ensuring a smooth development process. By providing a precise picture of the land's legal status and attributes, the 7/12 extract helps streamline the clearance process and reduces potential delays for property developers.
10. History of ownership:
By tracing the ownership history reflected in a 7/12 extract, one can unravel the sequence of transactions and inheritances that shaped the current land ownership picture. This information can be invaluable for resolving disputes regarding ownership rights, understanding past land use patterns, and piecing together the historical context of a particular property.
Details Mentioned in 7/12 Extract Document
We can find the following details in the 7/12 Utara Extract Document:
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Type of Occupancy - Commercial, residential, or Farming land, etc...
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Owner's Name - Current and previous owners' tree
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Survey Number - This is a unique identification number assigned to a property
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The Size of the Property - We can determine the property's dimension using the Extract
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Village and District the property belongs to
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Cultivable Land - Determine if the land is Cultivable or Uncultivable
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Determine the Sub - Division of the survey number belongs to
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Unique Khata Number
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Details of the agricultural history of a property.
How to obtain 7/12 Extract Document Online?
The Maharashtra Government with the intent to help the public easily extract the 7/12 Utara Extract Document of a property to analyse its details, has enabled an online portal where people can extract the 7/12 Extract Document of a property using the property's survey number easily; below mentioned is the step by step process to extract the 7/12 extract document online:
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Visit Bulekh.mahabhumi.gov.in and choose a suitable city from Anurangabad, Konakan, Nashik, and Nagpur, and Select the "Go" Button.
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You will be diverted to a relevant page where you can take the required action
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Choose 7/12 extract options like the village, taluka, and District.
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Search the property Extract using the survey number, First Name, Middle name, last name, and full name. Fill in other details relevant to the property and then click on search.
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The search results will be populated with the complete property details relating to the entered survey number
How to Calculate the Area of 7/12 Utara in Maharashtra?
You may all me now familiar with the term "7/12 Extract Document". Now let's see how to calculate the Satbara 7/12 Utara Mahrashtra area. The calculation of the 7/12 Utara land is a simple process. In order to calculate the 7/12 Utara land take the total distance from each corner of the land and divide it by 2.
ie., Area of 7/12 Utara land = The total of all distance from each corner of the land/2.
The calculation process may confuse you. There is no other better option to explain it. Or you can also check out the online app "Satbara 7/12 Utara Maharashtra App", and look for the 7/12 Utara area calculator, where you will be able to generate the 7/12 Utara land by giving the exact measurement of the land or the measurements from the 7/12 extract document.
Offline extraction of 7/12 Extract Document
To obtain a 7/12 Utara extract offline, Visit the Revenue Department in your jurisdiction and carry out the following procedure:
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Approach the help desk in the revenue department and get a hard copy of the 7/12 form.
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Fill out the form with the necessary property details, including the revenue number
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Pay the extraction fees
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Collect the 7/12 extract from the revenue department of Gujarat or Maharashtra.
The process involved in updating the 7/12 Extract
As a part of property purchasing processes, the change of ownership, and other details of the property, carry out the below-mentioned procedure to update your 7/12 extract:
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Write a letter to the revenue department in your jurisdiction of the area or the location of the property
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furnish the required information with supporting documents necessary for updating the property
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The officials will update the information after a thorough verification
Points to consider when one purchasing a 7/12 Utara land in Women's Name
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Women must be individual earners and must have a source of income -Banks don't provide home loans to women without an income source.
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In the case of divorce, property alimony is based on the sales deed.
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In case of a property dispute between husband and wife, the husband will be jointly responsible, even if the property is in the woman's name.
Final Words
In recent times, 7/12 Extract has played a vital role during property buying, selling, property ownership transferring, taking loans, etc.
SaatBara Utara is the popular Maharashtra term for 7/12 Utara Extract containing current owners' details, their rights and details of the plot, if the property is cultivable or uncultivable, and the katha details.
This extract is available online and offline. One can download the extract or visit the revenue department and get a hard copy of the 7/12 extract using the survey number.
When purchasing properties, use this 7/12 Utara extract to analyse the property's owners' history, encumbrance, and liabilities. Property is wise for purchase with zero liabilities and litigations.
Also Read:
Legal Documents required for Purchasing a Property
Documents Required for passport
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