I have booked a plot near South Bangalore ( Jigani ). The Layout as per the documents shared by the builder appears to be BMRDA approved. The Builder's project is approved by Punjab Housing Finance Ltd., New Delhi , LIC housing finance and Axis bank as well. The layout is still being developed and will be available for registration after 6 Months ( since its in phase 2 )

Question : The sale agreement ( not printed on stamp paper ) which has been handed over to me just has builders' seal. They have asked me to frank it. They have told that if the document is franked, bank will consider it and provide the loan. ( Axis bank has already approved my loan. ) Is it true that the sale agreement of land ( 30 x 40 site ) if franked has got value? In case of any legal issues, is the franked sale agreement hold any legal values?

Please advise.
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  • Hey harivishnu; I guess you can help avanish321; on the above query. It would be great if you can give some advice on the same. Thank you. :)
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  • any agreement has to be franked according to value of Property, then only bank will go ahead with process loan.Remember yours site booked has to be released by authority before buying property( since release is purely based on development of layout).
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  • Thanks harivishnu;

    Just a confirmation.

    If the agreement was made on stamp paper, would franking be necessary?
    And finally, in case if the agreement is not respected by the developer, will this agreement (franked) be produced in the court as a legal proof?
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