Is it legal to take loan from private financer against mortgage deed

Dear Sir, I need loan against property of 70 lakh and because of that i contacted to one person through newspaper advertisement. I met with him yesterday with my documents(i.e zerox copy of bank staments,poperty paperrs,id cards etc etc) . he said to me that they send first my papers to lawyer for legal check and then if lawyer approved then you will have to pay 7100 as legal fee and within 10-15 days .when all verification is complete ..we have to go in there office to received cheque of 40lakh.. and that time we have to pay 3% stamp duty charges for morgage deed (to ready morgage papers) in cash. and after 2 days of that we have to present in court to sign morgage deed and at the timing of sign morgate deed they transfer remaining amount through RTGS instantly. So i want to know Is it possible as per law ...or it is one of fraud .And if it is the fraud then what i have to do because they have zerox copy of our papers.