Land acquisition and property dealings have always been an excruciatingly long process in India. With India’s diverse state rules, accessing all bureaucratic documents for a piece of land takes time and effort.
Identifying this mammoth task of verifying and validating land before purchase, Landeed was conceived as an idea in the property tech startup domain by Sanjay Mandava, ZJ Lin and Jonathan Richards as early as 2015. But due to a lack of technological infrastructure providing the public data sets for this idea to be developed into a startup, Sanjay ventured into a trucking business with the same group of founders, naming it GoLorry. Having tasted success in GoLorry by creating an automated pricing engine for freights, Sanjay further expanded to warehousing and shipping.
In 2022, with the initiation of Digital India Land Records Modernisation Programme 2.0 (DILRMP), Landeed became a game-changer in this real-estate sector. Furthermore, with more than 84% of Indian household wealth stored in real estate, the demand for a reliable and efficient land ownership solution is immense.
Streamlining Property Documents through Tech
The long journey from where a buyer zeroes in on a property to where they gets it fenced with their name board is covered seamlessly by Landeed.
“Through our app, an individual can verify a property transaction ledger going back 20-25 years in 2 seconds. To make this happen, we built a simple interface with multiple search methods for various states into a fluid user experience,” said Sanjay Mandava, CEO and co-founder of Landeed.
The Landeed app also serves as a bridge between the revenue and registration departments established by state governments across India. By compiling data from multiple departments, the firm provides users with a simplified experience for verifying property titles and accessing essential property documents such as the revenue records of the said land. Currently, the app covers 20+ Indian states for property reports and plans to cover the remaining states intensively.
This comprehensive approach eliminates the need for individuals to run from pillar to post, obtaining information on claim ownership. Landeed lets users check transaction history, property market and guideline values.
As per the co-founder, Sanjay Mandava, “the infrastructural laggards in the Indian system make it all the more necessary not to burden it with more land dispute cases and that’s where Landeed comes into the picture.”
Online Document Search: Increasing Efficiency and Transparency
The startup’s claim of delivering a land document within five seconds in Telangana showcases the efficiency of its platform. Even in cases where servers are temporarily down, Landeed ensures that users receive the required documents by sending attachments to their email IDs when the servers become operational. This commitment to accessibility transforms how people interact with land records and significantly reduces the risk of litigation.
One of the critical advantages of Landeed is its ability to enhance transparency in the broad area of real estate. This visibility reduces the chances of fraudulent activities, promotes informed decision-making, and encourages more people to invest in real estate. Landeed’s comprehensive property reports and legal opinions further assist users in understanding the status and potential risks associated with a particular property, fostering a sense of confidence and security.
Funding and Recognition
Landeed’s approach has attracted significant attention and support from investors. The startup raised $8.3 million in a seed funding round led by Draper Associates, Y Combinator, and Bayhouse Capital in January 2023. This funding expanded the talented team and strengthened Landeed’s technological infrastructure. In addition, Landeed received overwhelming traffic, with 50,000 users in the first month of its launch and positive reviews, boasting a 4.7-star rating on the Indian app store.
As Landeed continues to grow, it aims to become the go-to platform for property title searches in India and globally. Landeed’s vision to provide accessible public records that protect individuals against litigation and facilitate seamless transactions aligns with the market’s evolving needs. Using cutting-edge technology and an innovative approach, the startup is all set to transform how people interact with land records, making land ownership secure and hassle-free.
As the company continues to expand and innovate, it holds the potential to become a global leader in land ownership solutions, making property tech startup accessible to millions of users worldwide.
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