Sir mortgage will be created in karnataka in jurisdiction.where property is situated.

Dear Sir 

Yes it can be but the Stamp Act Rules Maharashtra State applies. Just approach local lawyer who will guide you from step one to the end.

Since property is located in Karnataka equitable mortgage has to be registered in Karnataka 

stamp duty is state subject and varies from state to state 

It can be created the stamp duty.if the loan amount is less then 5 lakhs it will be 0.1 Percent of the loan amount subject to minimum of rs 100. If it's more than 5 lakh it will be 0.20 percent for the loan AMT( maximim no limit)

the EQM will be created by a bank in Karnataka and the stamp duty applicable would be as per the Karnataka stamp act. approach a bank or the branch of the bank you usually deal with and they would explain to you the finer points.

regards

Property is in Karnataka, so equitable mortgage has to be created there only, regardless of location of financer bank

So the stamp laws of Karnataka will apply

Equitable mortgage may be executed in Karnataka as per the applicable stamp duty based on Karnataka law 

You can enquire about the procedure to be followed in Karnataka with local registrar's office.

Dear Client,

Stamp duty 0.15% and Deed will execute with bank and bank will proceed it for registration.