Mumbai: The benefits of purchasing a farmhouse
Mumbai: benefits of purchasing a farmhouse: Do you want to be a part of the group of people who own large farmhouses and utilise them for weekend getaways? Mumbai offers you the option to own a farm where you may relax in the comfort of nature, grow your own organic food, and make a solid living from the agricultural output.
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Mumbai: benefits of purchasing a farmhouse
Why buy a farmhouse?
The idea of purchasing agricultural land, which is often tax-free, has been circulating among traditional investors as the price of most properties in India’s major cities has increased.
Where to purchase
The postings on Magicbricks demonstrate how common it is to own a farmhouse in places like Bhayandar West, Dahanu, Raigarh, or even Karjat and Vasai. Farmhouses cost anywhere from Rs 80 lakh and Rs 5 crore in these regions, depending on the location and size of the property.
They are a rare type of real estate since they represent luxury. Farmhouses are prefer in rural locations since cities lack the space for large homes. According to Romil Patani, owner of Krona Properties.
“Your farm needs to have some agricultural component if you wish to turn a profit. Mango, coconut, and chikoo trees are plant in orchards, and during the peak season. They are quite profitable due to their extensive cultivation, according to Patani.
But there’s more! “Most farmhouses are develop, and aside from typical vegetation, commercially beneficial things like Teak-wood trees are also produce,” explains Shakeel Shaikh, the owner of one such farmhouse.
Farmhouses that are for sale typically have half of them develop. With the other half being left up to the owner’s decision. The market for completely develop farmhouses, on the other hand, is quick compare to others. Which typically take three to four months to move in the market. According to individuals dealing with such transactions.
Who is buying?
The buyers are mostly wealthy Mumbai residents. According to RBI regulations, NRIs are not permitted to purchase some types of movable property in India. Including agricultural land, claims Patani. These farmhouses, however, are a specialised option for people who value privacy and the pleasure of escaping city life.
Requirements
There are two different kinds of farmhouses in and around Mumbai. One where developers construct contemporary villas and resorts and sell them directly, and the other. Where one is require to set aside a specific amount of land for farming and other forms of natural habitat while developing a home on a portion of it.
According to Ayussh Kalia of Coliers International-Mumbai, “the buyer is necessary to be a farmer or belong to a family of agriculturalists in places where some amount is mandatory to be left for greenery and agriculture when making any farmhouse purchase.
Mumbai is only one of several Indian cities where people register land in the name of a real farmer or apply for land conversion. Even if they are common, getting legal advice is always a good idea, continues Kalia.
Look for a valid title before purchasing a farmhouse, and learn the regulations of the state. Farmhouses are a possibility for you to think about, and they are typically use as weekend homes!
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