-
Essay / Buying Agricultural Land in India - 1708
Buying Agricultural Land in IndiaPrefaceInvesting in real estate has always been a lucrative route for investors who want to see their money grow manifold. But late, with the recent stagnation of real estate prices, there has been a negative effect on the real estate market of traditional properties such as apartments, offices, etc. In this scenario, one of the areas that is seeing progressive demand is agricultural land. According to experts, agricultural land has always been a user-friendly and inexpensive way to invest in real estate. In addition to this, you get various benefits such as various tax exemptions, making it an even smarter option to invest your money at any time. Although farmland is a hot property these days, investors need to consider various policies and other issues related to these properties because buying farmland is a little different from buying a traditional property. What qualifies land as agricultural land? simple term, agricultural land is land on which agriculture is practiced, that is, land on which the production of food is intended for human or animal consumption or for fuel purposes (such as wood ) and pharmaceutical products (medicinal plants). According to the World Bank, in 2011, 60.47% of land qualified as agricultural land. There are therefore many opportunities to buy agricultural land from people who already own it or who wish to sell it. Types of agricultural land. There are generally two types of agricultural land. agricultural land in India • Wet land (cultivable land) – Wet land is reserved for cultivation • Dry land (non-cultivable land) – Dry land is mainly rocky soil and is not suitable for cultivation. • Private property: this type is f. ..... middle of paper ...... sale of land is prohibited by the state government. for all the reasons mentioned above; and purchase only after obtaining prior permissions from the concerned revenue authority of the State Government. • Confirm and verify that the ownership of the land so purchased is transferred in the Land Rights Register or Extract 7/12 (if applicable) and that the transfer entries are recorded in 6/12 (if applicable) Extract in your favor.• Do not build a farm without permission.Use the land for the purposes mentioned above.• Collect/obtain the KHATE BOOK of Talathi and update it every year.• Get new Extract Rights Register land every six months/year and check the charges if applicable. • Pay the income from agricultural land to the Talathi company every year and obtain a payment receipt. • Visit/stay at the site at least once a month and monitor developments in the situation. progress and improvement of culture.