A piece of land never betrays the buyer. With the increase in purchasing power of investors in India, People are now searching for new investment options with nice returns. One such new-age investment is agricultural land or Farmlands. While some investors see this as their weekend destination home, others see this as an opportunity to leverage the growing market of organic fruits and vegetables, to supplement their income. Agricultural farmland can fulfil both of the requirements, and also it is very beneficial in other ways. As experts agree that farm investment is a safer option to park one’s fund as returns are usually high and investors can also nurture their passion for countryside living and farming.
Agricultural farmland can be a source of income as one can earn from selling the crops of the land. On the other hand, one can sell the farmland in the future without being stressed about taxes as these kinds of lands are free from taxation. Let’s discuss how agricultural farmland is the perfect place to invest.
A long-term wealth-creating opportunity:
Agricultural farmland can be very beneficial for long-term investments as one can have wealth creation opportunities in the future. One can purchase a piece of agricultural land and sell that in the future with a good profit. The wealth creation opportunities have decreased in other investment options with the passing decades, but it seems like an agricultural land can still provide the buyers with long-term growth opportunities and several tax-related benefits. The best part is that the income from agricultural land is free from the hazards of income tax. In India, one can get a higher level of capital security by investing in agricultural land.
On the other hand, with every passing day, the interest in investing in agricultural land is going high. It means that if you make the first move early, you will be more beneficial in future.
What are the legal boundaries of buying agricultural farmland in Karnataka?
Earlier, The Karnataka Land Reforms Act (1961) did not allow individuals without an agricultural background to own agricultural land in the state. Until recently, the new reforms have passed. The Present Karnataka Land Reforms Act (2020) introduced new amendments in purchasing agricultural land. Here are the new ceiling limits:
- The ceiling increased to 20 units per individual as opposed to the earlier limit of 10 units per individual. This means that the land ceiling for dry land has increased from 54 acres to 108 acres.
- Sections 79A have been nullified which implied that your annual family income should not exceed 25 lacs. Now, anyone can own land as there is no income slab.
- Section 79B has been repealed; anyone from a non-farming background can now own agricultural land in Karnataka.
But these differ from state to state and Companies like Triguna Country Homes are expert in this field and can guide you in the right direction.
Triguna Country Homes: Your one-stop solution to purchasing agricultural land
No matter what your occupation is, buying a piece of agricultural land on your own can be very hazardous as there are much legal documentation, inspections, and several other things that have to be taken care of. If you are willing to buy agricultural land as a beneficial asset, Triguna is at your service to provide you with that.
Our professionals inspect every agricultural land based on the soil condition, water availability, and accessibility so that our buyers can utilize that land as a long-term wealth creation opportunity. Our legal team is also here to handle all the legal documentation and other formalities. We only provide our clients with the lands that can bring profitable wealth creation opportunities to them in future or they can build a luxury farmhouse.
Come, connect with your roots with Triguna Country Homes.