The real estate investment in the present time needs a different strategic approach than purchasing a property for personal use. And investment in agricultural land in Bangalore is one of the best decisions which will give good outcomes in every situation.
Even like current pandemics, agricultural lands can be a good option for investment.
Before investing in agricultural lands let’s learn more about the same. Here you will clear all your doubts regarding agricultural lands.
- Who is eligible for buying agricultural land?
- Why should one invest in agricultural lands?
- Where should one buy agricultural lands in Bangalore?
- How ownerstown will help you to get the best deals?
Who is eligible for buying agricultural land in Bangalore?
Earlier in Karnataka, there was a restriction for buying agricultural lands that only registered farmers or those from farming families can buy agricultural land.
But recently the Karnataka government has updated rules for the same.
- Latest Amendment through the Karnataka Land Reforms (Amendment) Ordinance 2020 – has deleted Section 79A (Section 79A – If the aggregate income of all the members of a family or a joint family from sources other than agricultural land is more than Rs.25,00,000 per year, they are prohibited to purchase the land.) This means Income criteria are no more applicable.
- Non-agriculturists without having any agricultural background by them/their family can purchase the Land in Karnataka.
- As per FEMA ( Foreign Exchange Management Act) Regulations, NRI/OCI/Foreigners are not allowed to buy agricultural / farmhouse property. Only Indian Residents can purchase agricultural land.
Why should one invest in agricultural land?
- Agricultural land is a type of investment where the investor will be investing at the lowest risk and value increases over the long term.
- The income earned through agriculture is free from income tax. (According to Section 10(1) of the Income Tax Act, agricultural income is not considered a means of income)
- When you own farmland, you have several options for making a profit. The most common is nothing but growing and selling your own crops. An alternative to this would be leasing the farmland.
Where to buy agricultural land in Bangalore?
In real estate, investment in Bangalore itself is the best decision. In the case of agricultural lands, there are some places outside Bangalore that can be considered and recommended by real estate experts.
North Bangalore
- Devanhalli
- Hoskote
- Yalahanka
- Anekal
- Nelamanagala
South Bangalore
- Chitradurga
- Kanakapura
- Basavangudi
- Jangamkote
These are the places where an investor should think before taking any decision. There might be some legal hassles and all that you should clear before making deals for that we always recommend a background check from exports.
How will Ownerstown help you to get the best deals?
OwnersTown experts are always there with up to date market analysis. Once you finalized investing in real estate then the rest of things will be taken care of by our experts.
Hope you are now ready to buy agricultural land without any doubts. For any doubts or further clarification comment down your query or simply contact us.
