Dear Sir/Madam,
I have planned to buy a resale flat in chennai which is costing Rs.30 lakhs (Market Value). Out of which 8 lakhs I agreed to pay by Cash as Advance and remaining 22 lakhs will be paid by Bank Loan.
We have planned to put the agreement for this between us in a 20 rs. stamp paper with terms and condition.
Kindly let me know whether it will be a legally valid agreement if any discrepancy occurs and he failed to return the advance amount of Rs.8 lakhs.
Regards,
Thilak
