Terms of Use

By accessing or using our Platform, creating an account, or purchasing digital co-ownership certificates (Tokens), you (“User”, “Investor”, or “you”) agree to be bound by these Terms of Use (“Terms”). If you do not agree to these Terms, please do not use our Platform.

• The Model: We identify real estate opportunities and structure them under a Special Purpose Vehicle (SPV).
• Digital Ownership: Investors purchase fractional rights of these opportunities. These shares are represented by digital tokens or Non-Fungible Tokens (NFTs) on the Polygon blockchain (“Digital Co-ownership Certificates”).
• Role: Landbitt acts as a technology facilitator and aggregator. We are not a bank, stock exchange, or registered financial advisor.

• Age: You are at least eighteen (18) years of age.
• Jurisdiction: You are an Indian citizen, a Non-Resident Indian (NRI), or an entity legally permitted to invest in India under the Foreign Exchange Management Act (FEMA).
• Capacity: You have the legal capacity to enter into binding contracts.
• Compliance: You are not barred from receiving services under the laws of India or other applicable jurisdictions (e.g., you are not on any AML/CFT sanctions lists).

• Account Creation: You must provide accurate and complete information (Name, Email, Phone) to create an account.
• KYC Mandate: Access to investment features requires the completion of Know Your Customer (KYC) verification. You agree to provide valid government ID (PAN Card, Aadhaar, etc.) and bank details.
• Security: You are responsible for maintaining the confidentiality of your login credentials. Landbitt is not liable for any loss resulting from unauthorized access to your account.
• Wallet Security: If you connect a digital wallet to hold your NFTs, you are solely responsible for the private keys and security of that wallet. Landbitt cannot recover lost private keys or assets lost due to wallet compromise.

• SPV Structure: When you invest, you are effectively acquiring an interest in the SPV (Beneficiary Interest in a Registered Trust) that onboards a specific land parcel, through an exclusive Master Service Agreement with the Property Owner. The Digital Token is a representation of this intangible economic interest and is not a Registry.
• No Guarantees: Past performance of real estate in a specific area (e.g., Dholera SIR) does not guarantee future results.
• Ownership: The underlying derivative right to the land title remains with the Land owner, passed onto the SPV (Trust, for Digital Representation and earning beneficial interest from such Rights) until a divestment event occurs. You own the right to profit and fractional interest, not the physical land deed directly in your name (unless otherwise specified in the specific agreement executed in this behalf).
• Platform Discretion: We reserve the right to reject any investment request at our sole discretion.

• Fees: Landbitt may charge a platform fee, management fee, or transaction fee as detailed on the investment page for each asset.
• Gas Fees: Transactions on the Polygon blockchain may incur “gas fees.” These are paid to the network validators, not Landbitt, and are non-refundable.
• Taxes: You are solely responsible for calculating and paying any taxes applicable to your investment, including Capital Gains Tax and TDS (Tax Deducted at Source). Landbitt will deduct TDS where required by Indian law.

Crucial Legal Distinction: To ensure compliance with Indian tax laws and to protect investor interests, Landbitt structures its Digital Co-ownership Certificates (“Tokens”) to fall outside the definition of “Virtual Digital Assets” (i.e., Crypto/NFTs) as per the Income Tax Act, 1961.

• Exemption under Notification No. 75/2022: Pursuant to CBDT Notification No. 75/2022 dated June 30, 2022, a Non-Fungible Token (NFT) is EXCLUDED from the definition of a Virtual Digital Asset (VDA) if:

1. The transfer of the token results in the transfer of ownership of an underlying tangible asset; and
2. The transfer of ownership of such underlying tangible asset is legally enforceable.

• Asset Characterization: Landbitt Tokens are Tangible Asset-Backed Tokens. They do not derive value from speculation but represent a legally enforceable fractional ownership or economic interest in a specific real estate Special Purpose Vehicle (SPV). Therefore, they are treated as derivatives of immovable property or securities, not as “Crypto” or “VDAs.”

A. Income Tax (No 30% Flat Tax)

• VDA Regime (Sec 115BBH): Since Landbitt Tokens are excluded from the VDA definition, profits from their sale are NOT subject to the flat 30% tax applicable to cryptocurrencies.
• Applicable Regime: Profits are taxed under Capital Gains (Short Term or Long Term) or Business Income, depending on your holding period and intent, similar to physical real estate or unlisted shares.

B. TDS (Tax Deducted at Source)

• Section 194S (Not Applicable): The 1% TDS on “Virtual Digital Assets” does not apply to Landbitt transactions.
• Section 194-IA (Applicable): If the transfer involves immovable property value exceeding ₹50 Lakhs, TDS at 1% will be deducted under Section 194-IA.
• Section 194Q / 194H: Standard TDS provisions on goods or brokerage may apply depending on the transaction structure (e.g., sale of SPV shares).

You are solely responsible for filing your ITR and paying applicable Capital Gains Tax. Landbitt will deduct TDS where statutorily required and provide Form 16B/16A.

• Resale: You may resell your Digital Co-ownership Certificates to other registered users on the Landbitt Marketplace.
• Liquidity Risk: The Landbitt Marketplace is not a stock exchange. We do not guarantee immediate liquidity. You may not be able to sell your tokens instantly if there are no buyers.
• Lock-in Periods: Certain properties may have a lock-in period during which resale is restricted.

• Use the Platform for money laundering, financing terrorism, or other illegal activities.
• Attempt to hack, reverse engineer, or disrupt the Platform’s code or blockchain smart contracts.
• Market or resell Landbitt tokens on third-party platforms (e.g., OpenSea) unless explicitly authorized by us.
• Provide false or misleading information during KYC.

• No Financial Advice: Information provided on Landbitt (valuations, yields, projections) is for informational purposes only and does not constitute financial or investment advice.
• Tech Risks: We do not warrant that the Platform will be uninterrupted or error-free. We are not liable for losses due to blockchain failures, Polygon network congestion, or smart contract bugs.

• Indirect, incidental, or consequential damages (including loss of profits).
• Losses arising from the fluctuation in the value of real estate or digital tokens.
• Losses due to unauthorized access to your account or wallet.

• Jurisdiction: These Terms shall be governed by the laws of India.
• Dispute Resolution: Any dispute arising out of or in connection with these Terms shall be subject to the exclusive jurisdiction of the courts located in Ahmedabad, Gujarat.

For any questions regarding these Terms or legal matters, please contact us at:

• Email: support@landbitt.com
• Address: Landbitt Private Limited, Ahmedabad, Gujarat, India.