Basking.io, a corporate real estate data technology company, and Propstack, an Indian real estate data and analytics platform, have launched a service that uses AI to extract property lease terms, with analysts checking low-confidence results against the original documents.
The service is available to enterprise customers worldwide. Basking’s software reads the leases and extracts details such as rent, renewal options and deadlines. Propstack supplies the team responsible for reviewing flagged terms.
The process, known as lease abstraction, records key commercial and legal terms in a form that teams can search and consult without rereading the full lease. Each extracted value has a confidence score and a link to its exact location in the source document.
How flagged lease terms are checked
Basking uses multiple AI models to extract hundreds of fields from each document in a single pass. These include rent, escalations, renewal options, covenants, penalties and key dates.
Fields with low confidence scores are sent automatically to a review workspace. Propstack’s analysts compare them with the source, then confirm, edit or reject each value. All changes are logged so finance and legal teams can trace the review.
Basking CEO Dr. Eldar Gizzatov cited missed break notices and renewal options as examples of lease terms that can leave companies paying rent on space they intended to exit.
Propstack co-founder Raja Seetharaman said the company has structured more than a million real estate transactions covering over 1.4 billion sq ft in India. Basking says it has processed thousands of documents to date.
Using the extracted lease data
The reviewed records cover lease details, events, options, cost schedules and legal conditions. Teams can search and filter them across a property portfolio or export the data to finance, legal and business intelligence tools.
The service extends Basking’s LeaseOps platform for managing lease obligations, risks and renewals. According to Basking’s product documentation, LeaseOps accepts scanned agreements, archived PDFs, digital files and complex amendments.
When AI detects a renewal or rent-escalation event, teams can start an approval process through the platform. Comments and audit records are captured automatically.
Customers upload their leases and receive the verified data through LeaseOps or as an export to their existing systems. The companies say no software installation or integration project is required.
Basking and Propstack say the service cuts the time and cost of manual lease abstraction.
