Manage your property lease with ease
A web-platform that also helps you make informed decisions
Mar 25, 2014
Source : The Hindu

 

CHENNAI: Classmates, friends and business partners — this is the story of Sarfaraz Nazeem and Leeladharr TV, who quit their jobs to start a company that helps customers manage their multiple property leases online.

What Chennai-based Lease Info Services India Pvt Ltd does is provide a web-based platform where all the details of a customer’s property lease are captured online and are easily available for the customer. Thus, it helps the customer know when a lease is expiring or due for renewal, and throws up details as to how much revenue per sq ft the property is making in case of a retail property, which, in turn, helps the client decide whether it needs such a large space.

“This is business intelligence. How they should strategise on their future locations, compare rents in different cities and based on all these, they can re-negotiate with the lessor,” says Sarfaraz, Associate Vice-President – Client Acquisition.

In the company’s logo, ‘ease’ in ‘Lease’ is highlighted just so that prospective customers are in no doubt that the whole effort is to make their task of managing their property leases easier, he points out.

Shared platform

According to Leeladharr, COO, Lease Info’s services are available on a shared software platform that customers can use by paying an annual subscription fee. This is better than going in for an on-premise installation and then moving to SaaS (Software as a Service) platform.

It was Leeladharr, who had worked in the IT industry, who mooted the SaaS — where software and associated data are hosted on a cloud — model for Lease Info.

Set up in June 2010, Lease Info has a team of 10, of whom some are involved in populating lease agreement data on to the platform and the others in improving the software and providing more features to the customers.

The duo invested ?2 lakh from their savings and started the venture in a small residential apartment in a Chennai suburb before moving to an office complex on the arterial Anna Salai.

Lease Info now has about 25 clients, managing in all 3,500 leases for them. The clients include a few Chennai-based property developers and companies that have rented space across the country, including HDFC Ergo, an insurance company, and Hatsun Agro, a dairy company.

Striking it together

Sarfaraz and Leeladharr, both 33 years old now, studied Physics in their under-graduate course. While the former went on to complete a Master’s in computer applications, Leeladharr specialised in HR.

Sarfaraz, after a stint in the bank industry, was with a multinational property management consultant.

It was Sarfaraz’s knowledge of the real estate industry and the complexities of managing leases on multiple properties that gave rise to the idea.

The two friends talked it out and decided to start on their own, with Leeladharr giving the technological edge to the business.

When they started, SaaS was still at a nascent stage in India, says Leeladharr, but he was convinced that it was much more advantageous to all concerned to be on a shared software platform rather than install the program individually in customers’ offices. They acknowledge that the initial challenge was in selling the concept to their customers, typically those occupying multiple properties in different locations on lease.

They have not yet raised any funds, but were in the finals of the pitch fest organised as part of TiE Chennai’s annual conference last year.

They met a handful of investors and made presentations, but are confident that they can manage for a year or two before they need to raise funds to grow.

Latest Realty News

Chennai: Marked by mansions
Mar 25, 2014
CHENNAI: When a bachelor comes to Chennai for work or higher education, the hunt for accommodation invariably takes him to what is known as mansions. When Anand Nair, a city-based banking professional came to Chennai for his job, he was taken to one of the many mansions in the busy lanes of Triplicane and he was taken by surprise with the complete contrast he saw. “By a mansion, I had quite a different picture in my mind. What I saw was a building with many rooms, which was more or less like a l
Now, Pay Your Taxes, Utility Bills at e-Service Centres
Mar 25, 2014
CHENNAI: Chief Minister J Jayalalithaa has inaugurated the first phase of a pilot project to set up a single window system for the payment of a number of taxes, fees and public utility bills.
Knock, knock! Who’s there?
Mar 20, 2014
CHENNAI: Three days after his cataract surgery, a 55-year-old watchman was back at work. He sat in his usual seat outside an ancient apartment complex in Kodambakkam wearing a nifty pair of dark glasses. It didn’t matter that he hadn’t regained his vision fully. Among his other chores like shopping for an old woman’s groceries, buying cigarettes for the bachelors on the fifth floor, and delivering a tenant’s lunch at a nearby office, “watching” was not a real part of the watchman’s job.
Star Hotels Turn Luxury Homes
Mar 19, 2014
CHENNAI: The city may soon be losing out a few star hotels. They are likely to be converted into luxury homes as the hospitality sector has hit a low with declining occupancy and fall in business.
Will the tapering of funds affect the realty sector?
Mar 19, 2014
CHENNAI: With liquidity tapering, the US federation may consider withdrawing stimulus programmes that it provides to developing nations like India. If the federation does so, it will have an impact on our economy (particularly the real estate sector) but to a very limited extent, say most stakeholders of the industry. Had it happened 6-7 months back, it would have created a much larger impact on our economy. Thanks to some of the corrective measures that the RBI took quite recently through which
SBI offers lower rates to rivals’ customers
Mar 11, 2014
CHENNAI: In a fresh twist to the rate war in home loans, the country's largest lender State Bank of India is pitching its low interest rates to lure buyers who have already availed mortgages from rivals. The bank has sent out emails to prospective customers where it is marketing a balance transfer scheme in addition to selling fresh loans.
Sensex scales new peak in pre-election rally
Mar 07, 2014
CHENNAI: Call it the Modi effect or a pre-election rally — the BSE Sensex hit an all-time high of 21,525 and closed at a historic high of 21,513.87 on Thursday, a day after the Election Commission announced the schedule for the 2014 Parliamentary elections.
Apartments between Rs 30-60 lakh most preferred: CREDAI
Feb 28, 2014
CHENNAI: Majority of home buyers opted for mid-range apartments priced between Rs 30 lakh and Rs 60 lakh at the seventh edition of the Fairpro 2014 that concluded here recently, real estate industry body CREDAI said today.
Kuwait’s Hayat ties up with Chennai firm, to invest $100 million in realty sector
Feb 27, 2014
CHENNAI: Kuwait's Islamic investment firm Hayat Invest will invest $100 million (about Rs 620 crore) in the Indian real estate sector in two years in partnership with Chennai-based residential real estate developer XS Real Group.
Chennai: 3 in 4 buyers look for apartments within Rs 60 lakh
Feb 25, 2014
CHENNAI: Over 70% of apartment buyers in the city purchase properties below Rs 60 lakh, going by figures thrown up by the just concluded three-day property fair, Fairpro, organised by the Confederation of Real Estate Developers’ Association of India (CREDAI).

Latest Realty News Of State

Realty Talk's