Need legal advice

Are you in possession/occupation of the land?

Equity is the percentage of his property owned outright by him, which is the value of the home minus any mortgage owed on it. For example, if his home is worth Rs.250,000 and he has  Rs.150,000 left to pay on his mortgage, he has  Rs.100,000 equity.

You have got yourself into an unenviable position because you believed the words of a person.  Fortunately, you appear to be having papers to prove that you had lent the amount to the person. You have to  find out whether your friend created an Equitable Mortgage or Registered Mortgage against the property in question.  Now the mortgage equitable or registered are being noted in the revenue records and every state has a system of putting the information in the their websites.  You can even obtain an Encumbrance Certificate from the Registration Authority concerned to note whether the land is already encumbered in the form of Mortgage or already sold off.  In case there is encumbrance against the property by Bank, normally Banks do not cede second charge to others more especially individuals.

If the property is free from encumbrance, you can demand your friend to create a Simple mortgage of the property and keep the documents in original with you.  It is easier said than done and therefore you need to create pressure on him through your local elders, relatives etc.  Having given the loan without any property security, this is the price you have to pay.

If this is not possible you have send a notice to him recalling the loan (hope it is a demand loan and if it is not after the period of loan is completed) to repay the amount.  You can even think of using the cheque for recovery. 

Sincerely speaking, you need to consult a Lawyer ( a good one not somebody who handles matters routinely ) and get the required done.