PropsAMC assists over 300 homebuyers in recovering Rs 100 Crore from legal disputes with developers
New Delhi, November 7, 2023 – India’s largest integrated real estate platform, Square Yards has reached a significant milestone of INR 100 Cr recovery of invested funds, with over 300 legal cases resolved for homebuyers and property owners, with the help of its asset management arm, PropsAMC. The inception of legal services under PropsAMC, a leader in data intelligence and asset management space, came as a response to the rising concerns of homebuyers facing legal complexities and disputes with the real estate developers, in addition to multiple property tax disputes and lessee disputes of the property owners. Since its launch, it has provided unwavering support to countless individuals in their quest for homeownership and statutory obligations to state government agencies.
Tanuj Shori, Founder & CEO, Square Yards expressed his commitment to protecting homebuyer interests, stating “This is a testament to our unwavering commitment to safeguarding the investments of homebuyers. We understand the real estate investments are significant portion of client’s wallet and thus it’s our responsibility to ensure that this journey is secure and free from legal complexities. With over 300 cases resolved and INR 100 Crores recovered, our dedication to protecting their interests remains resolute, and we will continue to champion their rights at every step.”
Anand Moorthy, Co-Founder & CBO of Asset Management Services & Data Intelligence at Square Yards, added, “Our deep domain expertise of property related legal matters coupled with comprehensive data intelligence and asset management capabilities equips us to provide very unique and differentiated offering to the real estate ecosystem. With our in-house domain experts, we are not just empowering homebuyers & property owners but also piloting India’s first Digital Title Search and Property e-Valuation platforms with some of the leading financial institutions in India”
PropsAMC has identified and addressed developer disputes and legal ambiguities by implementing rigorous vetting processes. Square Yards has also integrated the vetting process as part of its distribution journey, starting with scrutinizing the backgrounds, track records, and credibility of developers, acting as a first line of defense to empower homebuyers to make informed decisions with confidence. Furthermore, PropsAMC recognizes the critical role of legal and technical due diligence in mitigating risks associated with property buying and acquisitions. Through title searches and assessments by its legal experts, it uncovers latent legal complications that may impede the seamless transfer of property ownership, allowing for timely resolution of potential legal challenges. To ensure that homebuyers fully understand complex legal jargon in contract documents, its legal team provides expert contract reviews. This additional layer of scrutiny helps buyers avoid costly mistakes and safeguards them from potential legal complications.
In property dispute situations, PropsAMC leverages its legal expertise to offer mediation & litigation services, ensuring that homebuyers can secure their investments without being embroiled in prolonged legal battles. In addition to its protective measures, PropsAMC has digitized over 20Mn property registration records & property titles making this information public and easily accessible to the end users. It also provides business services like title search, valuation, litigation check etc. to business users like banks, HFCs, valuers and law firms. With real estate being the preferred avenue for investment for many homebuyers and investors, PropsAMC stands as a guardian, protecting the dreams and interests of millions from property related diligence and potential legal complications.