Understanding our investment in Landeed
It is indeed surprising to learn that 2/3 of court cases in India are related to land encroachment, and 84% of Indian wealth is invested in real estate. The mismatch regarding land ownership can be attributed to several factors.
One of the main reasons for the discrepancy is the absence of a common database for title deeds in India. Each state in the country maintains its own data sets and has its own rules for land transactions, leading to confusion and challenges in determining the true owner of a piece of land. The various methods of land title exchange, such as power of attorney or property registration, further contribute to the complexity and confusion.
To establish solid proof of land ownership, it is crucial to carefully examine and verify the necessary documents. Some of the essential documents required to establish ownership include:
Title document: This document establishes the current owner's legal rights to the property.
Chain of title documents: These documents trace the ownership history of the property over time.
Encumbrance certificate: This certificate confirms that the property is free from any legal or financial liabilities.
Completion and occupancy certificate: These certificates verify that the construction of the property is complete and it is fit for occupation.
Allotment and possession letter: These letters confirm the allotment and possession of the property to the current owner.
Mortgage documents (if applicable): These documents provide information about any existing mortgages on the property.
Property tax receipts: These receipts demonstrate that the property tax obligations have been fulfilled.
Utility bills: Up-to-date utility bills establish that the property has been regularly serviced with utilities such as water and electricity.
Car park allotment letter: This letter confirms the allocation of parking space with the property.
No Objection Certificate (NOC) from the Residents' Welfare Association (RWA) or society (if applicable).
In an effort to address the challenges associated with land documentation and verification, Landeed, India's first property title search engine, utilizes technology to aggregate land records data from different states. It provides important documents like Encumbrance Certificate (EC), Records of Right (ROR), and property reports, which are crucial for due diligence before making any property investment. By offering easier access to land records data, Landeed aims to save time and effort for individuals involved in property transactions