While taking a home loan for an underconstruction apartment, is it true that:
1. If a loan is taken from PSU bank (e.g. SBI) then the registration and stamp duty charges for the flat must be paid on the full value of the unit as written in sales agreement? (E.g. For a 1500 SqFt unit with a PSF rate of 3000 - the govt charges must be calculated on 45L amount) and 2. If a loan is taken from private bank (e.g. ICICI) then the registration and stamp duty charges for the flat can be calculated and paid based on the govt declared guidance value as well? (E.g. For a 1500 SqFt unit in an area with a PSF rate of 3000 & govt guidance value of 1000 - the govt charges can be calculated on 15L amount).
If someone has an idea - please clarify above. As on the surface - taking a home loan from Private bank will save some money in terms of registration and stamp duty. Is it legal to use option 2?