Booked a flat on Sali land..Any Risk

Hi, I am bit worried about a purchased property on sali land . 1. we recently booked a 3 bhk flat in Sreebhumi area at 5th floor . I was going to apply home loan from SBI at my own and that time developer declares that to me it has been a sali land and couldn't be converted to Vastu land yet since conversion is not being done currently . 2. They have all other legal documents . However, one staff from SBI home loan told me that the home loan probably not be approved for a property constructed on sali land . However, other banks and LIC will approve this loan easily . So, this might not be that much risky deal even during resell later . 3. The SBI representative also said, if SBI approves loan then it is safe to purchase . On a separate note, 3 buyers already applied SBI home loan for the said property . Although, those have not yet been approved for last 1.5 months but, a SBI agent said, it would be approved soon in next 3 days . Waiting for the confirmation . 4. The property is on the area where earlier there was a factory . All other congested residential buildings are there surrounding this property . They have good constructions and all flats are booked by now . Please assist me further whether we should cancel this booking even I get sbi approval confirmation for other buyers as we might face challenges in future .