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Kagaznama

Undertaking to Create a Mortgage

At a glance

Price: Free
Stamp duty: Stamp as the undertaking it actually is (Punjab/Chandigarh) — wording that creates present security can trigger mortgage duty and registration; don't use this to dodge those.
Registration: Not registered for a future promise; the later mortgage must be, under ss.17/59.
Witnesses: Not required for the promise; the later mortgage has its own attestation rule.

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Also called

mortgage creation undertaking
promise to perfect security

When you need it

For when the lender has sanctioned/disbursed credit but the mortgage can't complete immediately — a condition must happen first (deed registration, an old charge released, an authority NOC, or title deeds becoming available). Needs a limited undertaking to create the mortgage by a fixed deadline, without impairing the property meanwhile.

Doesn't itself create the mortgage — the later registered instrument (s.59) or deposit mortgage (s.58(f)) still applies. States the condition, deadline, no-encumbrance covenant and consequence of failure.

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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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

Stamp as the undertaking it actually is (Punjab/Chandigarh) — wording that creates present security can trigger mortgage duty and registration; don't use this to dodge those. Buy the stamp by signing (s.17); if unclear which article applies, adjudicate (s.31). Unstamped instruments are inadmissible until duty+penalty are paid (s.35).

Registration

Not registered for a future promise; the later mortgage must be, under ss.17/59.

Notarisation

Not required unless the lender asks.

Witnesses

Not required for the promise; the later mortgage has its own attestation rule.

Request Stamp Paper

Sample preview — placeholder answers, not your data

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UNDERTAKING TO CREATE A MORTGAGE

Undertaking date: 1 April 2026

Borrower/proposed mortgagor: Aarav Sharma, Sector 21, Panchkula. Lender: ABC Bank Ltd, Sector 17, Chandigarh. Loan: HL-2026-118.

PROPERTY AND FACILITY

Property: Plot 118, Sector 66, SAS Nagar, Punjab (Residential house/plot), Plot 118, Sector 66; conveyance deed 2345/2022., Punjab. Facility to be secured: ₹90,00,000 (Rupees Ninety Lakh only).

PROMISED SECURITY

Intended form: Registered simple mortgage. Completion deadline: 2 April 2026. Condition preceding creation: Property registration in borrower name. Details: Sale deed scheduled for 20 September 2026..

INTERIM COVENANT

Protection before mortgage creation: Borrower will not sell, transfer or further encumber the property inconsistently with lender sanction.

FAILURE

Consequence under the loan arrangement: Lender may withhold further disbursement and treat failure as breach under loan documents..

This undertaking does not itself transfer or create an interest in the property; the stated mortgage must be completed through its legally required instrument/event.

SIGNATURE

______________________________
Signature
Borrower/proposed mortgagor: Aarav Sharma
Place: ____________________
Date: 1 April 2026

LEGAL BASIS

In Punjab the holder of a site allotted by a development authority cannot transfer any right in it, a mortgage included, without the authority's previous permission (section 43(7) of the Punjab Regional and Town Planning and Development Act, 1995), and the authority gives that permission only to the allottee on its file. In Chandigarh a leasehold site needs the Estate Officer's permission to mortgage, a notified service under the Right to Service notification of 30 March 2026, and the Estate Office's checklist asks for an affidavit with it, which carries its own stamp duty. A mortgage by deposit of title deeds does not show in a Punjab Non-Encumbrance Certificate, which is why lenders also record the security in the Central Registry of Securitisation Asset Reconstruction and Security Interest of India.

PERSONAL DATA NOTICE

This notice is given under the Digital Personal Data Protection Act, 2023.

Personal data in this document is collected only to record the borrower's time-bound undertaking to complete the identified mortgage security, communicate about that purpose, verify expressly supplied lending, identity and property information, and retain an evidentiary transaction record.

The record will be held by Kagaznama and may be shared only with the borrower, co-borrower, guarantor, lender, authorised professional, registering or revenue authority, Central Registry/CERSAI-related service, insurer or other person directly involved in the stated credit or security transaction.

Questions about this document

Does the Undertaking to Create a Mortgage need stamp paper or stamp duty in Punjab and Chandigarh?

Stamp as the undertaking it actually is (Punjab/Chandigarh) — wording that creates present security can trigger mortgage duty and registration; don't use this to dodge those.

See the full position on stamp duty, registration and witnesses

Does the Undertaking to Create a Mortgage need registration in Punjab and Chandigarh?

Not registered for a future promise; the later mortgage must be, under ss.17/59.

See the full position on stamp duty, registration and witnesses

What does the Undertaking to Create a Mortgage cost on Kagaznama?

Free.

Documents are free. Only kits are paid.

Does the Undertaking to Create a Mortgage need witnesses?

Not required for the promise; the later mortgage has its own attestation rule.

See the full position on stamp duty, registration and witnesses

Often needed with this document

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