1. Since the original is destroyed and the bank certifies of the loss there is no problem apparently arising from this act.

2. However do check the title of the property through an advocate.

3. On the basis of certified copy of the sale deed a valid title can pass to the buyer.

If the bank gives a certified copy of the original property documents then it is reliable. It won't create any problems. He should state everything on affidavit.

See you can take the bank's letter and indemnity bond from the seller. If the bank's original letter and certified copy is there then there won't be any issue. Yes you proceed further.  

The certified copy of the property documents created by bank with an indemnity bond indemnifying the loss or damage in this connection in future would serve the purpose and also you may secure the evidences of the fire that has taken place in the bank by newspaper press release or some other document which would support and substantiate the cause for obtaining the certified copy in the place of original title documents.

You may first clarify and confirm  from your bank that whether they will approve home loan and disburse the same on the basis of the said certified copy of the property title document for the reasons given therein and then move on

The owner can give a police complaint and newspaper advertisement for the same. Along with it it's better to take indemnity bond from him

1. Take an Notarized "Irrevocable Indemnity Bond" (stamp 500/-) with strategic clauses, that he indemnity's you for any legal disputes, losses, claims etc.... arising out of the property transaction and loss /misplace of the original agreement etc....

2. Further take possession immediately, on payment of balance amount.

Keep Smiling .... Hemant Agarwal
VISIT:

IDBI bank should give in writing that original documents have been lost in fire 

2) lodge FIR about destruction of original documents 

3) seller should apply for certified copy of registered sale deed 

4) issue public notice about loss of original documents 

5) then you can purchase the flat 

1. if the IDBI bank is providing you an undertaking regarding the loss of original documents in a fire incident, then you can move ahead with the certified copies,

2. advised taking help of a local lawyer to avoid any future legal complications

• The original title document deposited by the customer with the bank has been lost, he should obtain an acknowledgement to the effect from the concerned bank in writing. The customer should also insist that the bank file a complaint with the police regarding the loss of original title documents and provide the copy of the same to the customer.
• In case, the bank does not give such an acknowledgment in writing, then the customer should register a written complaint with the bank clearly mentioning the details of the documents submitted by him with the bank along with the details of original documents that the bank has lost and an acknowledgment of the same from the bank.
• The aggrieved customer can also approach the banking ombudsman or consumer court to seek redressal.
• To be absolutely sure of whether the document has been lost by the bank, get that intimation in writing from the lender. The bank executives may tell you verbally about it. But you better insist them to give you an official letter about the loss. The letter should bear a seal and signature of the competent bank officials.

As your seller to take in writing that the original sale deed is lost due to fire incident at Mumbai SHCIL and FIR for the same in the police and regarding fire investigation for the same reason behind it. 

Ask him to take on letter head of Bank along with bank seal and signature along with clear subject line and body mentioning sale deed submitted by seller had been lost due to fire.

1. If the certified copies can be delivered then also it should suffice. The bank must give in writing that original documents were lost in fire.

2. It should not adversely affect you while selling the flat if certified copies are available.

You obtain certificate from IDBI stating about the fire accident loss of originals.

Obtain Certified copy of Sale Deed with the help of vendor.

Issue  notice in news paper calling for objections about above transaction.

You can also lodge police complaint in local police station based on IDBI's certificate.

Carry out due diligence, thereafter proceed with transaction.

With the help of above documents, you will no have problem to sell flat in future.

It is better to move legally and record the matter and obtain court ordered documents which will be legal document for all purpose in lieu of Original Lost/Missing/Destroyed in fire .

1. Yes it is safe to proceed with sale of IDBI bank is providing the letter that original documents were destroyed in fire at the storage. 

2. You can go ahead with purchase of property with certified copy of original documents from office of sub registrar.