Revolutionizing Land-Linked Lending: Proplegit’s Impact on India’s BFSI Sector

In India’s rapidly evolving financial landscape, where real estate serves as a cornerstone of economic growth, the banking, financial services, and insurance (BFSI) sector faces a persistent challenge: managing the risks associated with land-linked lending. Opaque property transactions, fraudulent title transfers, and legal irregularities have long plagued the industry, often turning healthy loan portfolios into non-performing assets (NPAs). Amid this complex ecosystem, a new player has emerged as a game-changer, Proplegit Global Private Limited, a legal-tech startup that is redefining how banks and non-banking financial companies (NBFCs) navigate property-backed lending.

The India Prime Times team recently had the opportunity to meet Birju Patel, the Co-founder, Director, and Chief Operating Officer of Proplegit, during a visit to their Ahmedabad headquarters. Our interaction with Patel revealed not only his deep understanding of the sector’s challenges but also his unwavering commitment to leveraging technology to address them. His vision, coupled with Proplegit’s innovative platform, is quietly reshaping the future of secured lending in India.

The Challenge: A Visibility Gap in Land-Linked Lending

India’s real estate market, while a vital driver of economic activity, is fraught with complexities. Disputed titles, encroachments, and fraudulent transactions create significant risks for financial institutions offering loans against property (LAP). Traditionally, banks and NBFCs have relied on manual processes and sporadic audits to verify property records, a system that is both time-consuming and prone to oversight. The result? Delays in loan approvals, undetected risks post-disbursement, and a growing burden of NPAs, which, despite recent improvements, continue to challenge the sector’s stability. According to the Reserve Bank of India (RBI), scheduled commercial banks recovered ₹7.15 lakh crore in NPAs over the past five years, but proactive risk management remains critical to sustaining this progress.

Proplegit, launched in 2019, was born out of a recognition of this “visibility gap.” The platform addresses a critical need in the BFSI sector: real-time, technology-driven monitoring of land-backed loans. By automating due diligence and enabling continuous oversight, Proplegit is helping institutions align with RBI’s stringent fraud risk management frameworks while optimizing their operations.

From a Personal Mission to a Sectoral Watchdog

The story of Proplegit’s inception is as compelling as its impact. During our conversation, Patel shared a personal anecdote that sparked the idea for the platform. Nearly a decade ago, a close friend, an NRI, discovered an attempt to fraudulently sell his ancestral property in India. The documents appeared legitimate, but the intent was malicious. This incident highlighted a broader issue: the lack of transparency in property transactions, which affects not only individuals but also financial institutions disbursing billions in loans.

Drawing on his 23 years of experience, including 14 years in government service, Patel partnered with Dharmesh Patel of Esmsys Technologies to create Jaher Notice in 2018. This platform enabled real-time tracking of public land transactions for NRIs, brokers, and property owners. However, the duo soon realized that the same opacity affecting individuals was a significant pain point for the BFSI sector. Banks and NBFCs were disbursing large loans without mechanisms to monitor post-disbursement risks, such as encroachments or unauthorized title transfers.

This insight led to the creation of Proplegit, a B2B legal-tech intelligence suite tailored for India’s BFSI sector. Unlike traditional automation tools, Proplegit acts as a sectoral watchdog, offering end-to-end risk management solutions that align with India’s broader economic goals, including financial inclusion and infrastructure growth.

Proplegit’s Game-Changing Capabilities

Proplegit’s platform is designed to tackle the structural vulnerabilities in land-linked lending. Its key features include:

• Real-Time Monitoring: Pre-sanction due diligence, which once took weeks, is now completed in hours through automated checks. Post-disbursement, the platform provides 24/7 tracking of encroachments, title transfers, and legal irregularities, ensuring continuous oversight.
• Early Warning Systems (EWS): Proplegit proactively flags suspicious activities, enabling institutions to take preventive action before loans default.
• RBI-Aligned Compliance: The platform’s Red Flagged Account (RFA) reporting ensures traceability and audit readiness, aligning with RBI’s fraud risk management guidelines.
• Proven Impact: Operating across 21+ Indian states, Proplegit has processed over 11 lakh survey records and serves 15+ top-tier banks and NBFCs. Its “prevention-first” approach has led to fraud detection savings worth crores and significant reductions in NPAs.

These capabilities have positioned Proplegit as India’s first startup dedicated to post-disbursement monitoring of loan-backed properties, a critical yet underserved niche in the BFSI sector.

A Leader with Empathy and Vision

During our visit, the India Prime Times team was struck by Patel’s ability to blend technical expertise with a deep empathy for the challenges faced by both individuals and institutions. His background in public service has instilled a unique perspective, allowing him to approach problems with a focus on systemic solutions rather than quick fixes. “Technology paired with empathy builds trust infrastructure that safeguards every stakeholder,” Patel told us, a statement that encapsulates Proplegit’s mission.

Patel’s leadership extends beyond technology. He oversees operations, sales, and cross-functional initiatives, ensuring that Proplegit’s solutions deliver measurable outcomes. His ability to align internal execution with regulatory frameworks has earned the trust of some of India’s most prominent financial institutions. With over 363 LinkedIn connections and a reputation for driving innovation, Patel is a respected figure in the industry.

A Call for Digital Transformation

The BFSI sector stands at a crossroads. As India aims to become the world’s third-largest economy, the need for efficient, transparent, and scalable financial systems has never been greater. Legacy processes, reliant on manual checks and outdated workflows, are increasingly unsustainable in a competitive market. Proplegit’s platform allows credit teams to focus on core activities, such as business development, while its intelligent workflows manage risk oversight.

The broader implications of this transformation are significant. By reducing turnaround times, enhancing compliance, and minimizing fraud, Proplegit is enabling banks and NBFCs to maintain healthier loan portfolios. This, in turn, supports India’s financial inclusion goals, ensuring that credit flows smoothly to underserved segments of the population.

The Road Ahead

As India’s real estate and financial sectors continue to grow, the role of technology in mitigating risks and enhancing efficiency will only become more critical. Proplegit’s success, evidenced by its partnerships with top-tier banks and NBFCs, its processing of millions of survey records, and its tangible impact on fraud prevention, underscores the potential of legal-tech to transform the BFSI landscape.

Our interaction with Birju Patel left us with a clear takeaway: innovation in the BFSI sector is not just about adopting new tools but about addressing systemic challenges with foresight and empathy. Proplegit is not merely a service provider; it is a partner in building a more resilient and transparent lending ecosystem.

As financial institutions navigate the complexities of land-linked lending, Proplegit stands out as a beacon of progress, offering a blueprint for how technology can safeguard assets, streamline operations, and foster trust. For an industry long burdened by opacity, this silent revolution is a welcome step toward a smarter, safer future.