Plot related query for purchase
I recently have given some amount to developer(SRI DURGA PROPERTY) to purchase a plot(THE PLOT PLAN IS NAMED AS CHAISHALYA BY THE DEVELOPERS) in Bangalore north which comes under BIAPA approval.Me and developer came up with an agreement for 3 months saying the remaining amount will be given during registration by availing bank loan from LIC who have approved the plan. Now the agreement is almost going to end by a week and LIC refused to give loan as if now as my plot comes under third release and the development has not yet finished the development of road,electric line etc hence government has not yet given third release paper to developer. So LIC housing and finance is not releasing the fund.
Now suddenly developer has approached Indian real bull home loan finance and they agreed to give me loan with out third release paper and get it registered.
So as per the above scenario if i get my plot registered with out the third release paper will it affect me in any ways is what i want to know, Also this is entirely new to me so please let me know what are the procedures during registration.