Dear All,
A friend and I had been looking for a large (50+ acres) farmland within 100 kilometers and have found a single stretch of 100 acres. This is located less than 50 kilometers from Bangalore from Banashankari temple towards Kanakapura road.
Friend and I are buying 20 acres and rest would like to register to interested people. What we are planning from our 20 acres is to go for sericulture which gets approximately 5k per month per acre. Please note the risk of infections etc and this is not guaranteed.
Sericulture FAQ: http://agritech.tnau.ac.in/sericulture/seri_faqs.html.
Apart from this we are also looking for zero investment farming (Subhash Palekar - http://palekarzerobudgetspiritualfarming.org/) or concept of permaculture (http://en.wikipedia.org/wiki/Permaculture).
We want to build farm sheds for few families and would share the cost of farming for interested people. Income also will be shared.
Along with this if sufficient people are interested we will have some week end getaways so that with approximate 50 days occupancy, we plan to cover the EMI of the land.
In summary:
Planned activities and net income (including maintenance):
- Sericulture approximate 5k per month income per acre after 1 year (best case scenario)
- Permacutlure (Approx another 5k per month after 2 years)
- Week end activities (Approximate another 5k per month after 1 year)
This way best case scenario you will get free land.
Cost:
- Site cost of approximately 12.5 lakhs per acre
- Registration cost of approximately 50 thousand.
- Minimum purchase of 1 acre
- Initial development cost of 50 thousand.This can go to community account.
Total of 13.5 lakhs per acres.
Misc notes:
- No loans will be available. However, for sericulture we will get govt subsidy and loan. Trying some options for farm development after registration.
- Land owner is not ready to register it to multiple parties and we will register in our names and will register to buyers.
- If sincere and definitive commitments do come from people, we will pay from our pocket and register in our names.
- All the people who commit will get at the above rates guaranteed.
- The govt rate is around 7 lakhs per acre
- Farm lands sold as small quarter acre plots are quoted at 200 per square feet. This translates to more than 80 lakhs per acres.
- Some interior farms are available at approximately 8-10 lakhs also in 1 or 2 acres. But large stretch is not available.
- Having large stretch helps to make sways for water to absorb and increase the ground water level there by helping increasing probability for successful farming. Hence looking to build a community with sustainable farming.
- Idea is not to make real estate business even in long term. Intention is to build a community of 80 families.
- Location based premium may be decided which should not exceed 15% of the cost. This will go to community account.
- Not looking from real estate sector. Preferably from IT, BT, Banking, Lawyers and Doctors community.
Next step: Please reply by 6th Feb.
- No need to pay any advance.
- Send your interest by sending PM to me with your mobile number.
- Location is excellent and will be revealed once definitive commitment are received.
- Preferably looking for people to invest for minimum of 2 acres and will sell only in multiple of 1 acre.
- Whole transaction will take approximately 6 months (will take less than 2 weeks after the agreement).
Maintenance:
- We will maintain.
- You may either actively participate by contributing your time or passively participate by leaving it to us. Either way we will workout a model to benefit all of us.
- Expect 1-2 years for farm to be producing any income.
Apart from me and my friend (we are buying 10 acre each) there are another 4 people who have committed for 2 acres each.
Please don't call me on mobile if you have any questions. Please post questions or PM me.
About me and my friend:
We both are in IT field and have come from farming families. We would like to contribute our bit with sustainable farming and moving away (not far away) from city. Again note that don't dream of becoming rich by investing here. However, if all of us drive this, we can lead a happy community life closer to city.
Important:
We have not worked out how we finance 10 crores (we will barely manage our own portion). In case we go with some sort of loan, we might have to share the interest cost.
Forming farming community
Re: Forming farming community
Hi, Can you let me know your contact # - I'd call you to understand this a bit more. Thanks Senthil. You can send me your # to my email senindra8@gmail.com
Re: Forming farming community
Hi Senindra ,
nagsbhat has clearly mentioned no phone calls, please post your queries in the forum ,there by we can avoid multiple similar questions .
All the best for the new group.
Regads
ADMIN
nagsbhat has clearly mentioned no phone calls, please post your queries in the forum ,there by we can avoid multiple similar questions .
All the best for the new group.
Regads
ADMIN
Re: Forming farming community
Hello Nags
Need a clarification on the eligibility to buy the agricultural land by a common man.
can anyone/everyone buy this agricultural land? As per my knowledge,
only a person having agricultural record in his name/family name can buy it.
Else via special permission from a DC if the Annual income of that person is
less than 2 Lakhs is permissible.
correct me if i'm wrong.
Need a clarification on the eligibility to buy the agricultural land by a common man.
can anyone/everyone buy this agricultural land? As per my knowledge,
only a person having agricultural record in his name/family name can buy it.
Else via special permission from a DC if the Annual income of that person is
less than 2 Lakhs is permissible.
correct me if i'm wrong.
-
Hesh_Mysore
- Posts: 29
- Joined: August 21st, 2009, 11:23 am
Re: Forming farming community
Nags,
Along with msn1270's query, also want to know if the whole of 100 acres has to be bought. To be more clearer, if the total number of people who want to get in do not equal to 100 acre, will the group still go ahead and buy what ever is number is.
Also, how does the ownership work. Is it like all people who buy are part of a registered association, or its just individuals buying land as per their capacity and you would plan out in maintaining/farming them as mentioned?
Thanks
Along with msn1270's query, also want to know if the whole of 100 acres has to be bought. To be more clearer, if the total number of people who want to get in do not equal to 100 acre, will the group still go ahead and buy what ever is number is.
Also, how does the ownership work. Is it like all people who buy are part of a registered association, or its just individuals buying land as per their capacity and you would plan out in maintaining/farming them as mentioned?
Thanks
Re: Forming farming community
Hi
Would appreciate if you could throw some clarity on the query raised by msn regarding the eligibility criterion to buy agricultural land. Since you mentioned you and couple of other of your mates comming from farming background might not have this problem but most of the others since from an IT background would definetly not be able to work around the 200 K₹ annual income . Neither would we be considered as eligible as most of us have come here from diffrent states would appreciatesome clarity on this point rgds ramesh
Would appreciate if you could throw some clarity on the query raised by msn regarding the eligibility criterion to buy agricultural land. Since you mentioned you and couple of other of your mates comming from farming background might not have this problem but most of the others since from an IT background would definetly not be able to work around the 200 K₹ annual income . Neither would we be considered as eligible as most of us have come here from diffrent states would appreciatesome clarity on this point rgds ramesh
Re: Forming farming community
Sorry Guys, was bit busy at work.
For eligibility, the rules are as below:
1. You/your parents should be agricultural land owners.
2. Your income should not be more than 2.5 lakhs per year average over the past 5 years.
Usually, Sub registrars don't ask for income proof or lack there of.
For both the above there is certain way to manage it legally with certain out of the pocket expenses.
In terms of owner ship:
1. The portion will be registered in the person's name. There is no provision to register in associations name.
2. In terms of selling portion of the land, current owner is not ready. Though he is not revealing the reason, as I mentioned, if he sells by portions he will not get the same rate for interior land. On top of that he will have to provide roads etc.
3. In terns of maintenance, I have seen some of the communities formed and challenges. In this case, I and friend have plans to maintain our portion of the land and would extend anyone who come forward to give for maintenance. Cost and income will be shared.
4. Community has no legal standing from the land ownership of the individuals are concerned. However, we want to build based on a broad spirit. Once the land is registered in owner's name, there is no legal binding to association.
5. I gave some more thought and each owner will be registered with a condition to allow 10% of the portion to road. This means that owner agrees to allow laying of road on their land not exceeding 10% of the extent of the land.
6. Another thing that I did not consider when I gave a thought is for some community area. We will try to allocate 5-10 acres for community area from the fund from community account
7. Another thing is we don't want to allow people to buy more than 2-3 acres of land.
In terms of response from the forum, it has not been great especially from point 7 perspective. There are some people who are interested in buying 10+ acres but it is not very appealing since real estate is not the spirit.
Further, to this, I am planning to continue with forming a community even if I can't manage this time. Will post another thread if I don't get enough response by tomorrow (which is unlikely). I know this is a short notice and will be difficult to think through this time.
For eligibility, the rules are as below:
1. You/your parents should be agricultural land owners.
2. Your income should not be more than 2.5 lakhs per year average over the past 5 years.
Usually, Sub registrars don't ask for income proof or lack there of.
For both the above there is certain way to manage it legally with certain out of the pocket expenses.
In terms of owner ship:
1. The portion will be registered in the person's name. There is no provision to register in associations name.
2. In terms of selling portion of the land, current owner is not ready. Though he is not revealing the reason, as I mentioned, if he sells by portions he will not get the same rate for interior land. On top of that he will have to provide roads etc.
3. In terns of maintenance, I have seen some of the communities formed and challenges. In this case, I and friend have plans to maintain our portion of the land and would extend anyone who come forward to give for maintenance. Cost and income will be shared.
4. Community has no legal standing from the land ownership of the individuals are concerned. However, we want to build based on a broad spirit. Once the land is registered in owner's name, there is no legal binding to association.
5. I gave some more thought and each owner will be registered with a condition to allow 10% of the portion to road. This means that owner agrees to allow laying of road on their land not exceeding 10% of the extent of the land.
6. Another thing that I did not consider when I gave a thought is for some community area. We will try to allocate 5-10 acres for community area from the fund from community account
7. Another thing is we don't want to allow people to buy more than 2-3 acres of land.
In terms of response from the forum, it has not been great especially from point 7 perspective. There are some people who are interested in buying 10+ acres but it is not very appealing since real estate is not the spirit.
Further, to this, I am planning to continue with forming a community even if I can't manage this time. Will post another thread if I don't get enough response by tomorrow (which is unlikely). I know this is a short notice and will be difficult to think through this time.
-
Hesh_Mysore
- Posts: 29
- Joined: August 21st, 2009, 11:23 am
Re: Forming farming community
Nags,
Point 7 as you say does not sound right. How can a person be restricted to just 2-3 acres when you and your friend have taken 10 acres each. This is not to be taken in the real estate spirit. Making the max to be 10 acres per person would be more fair. The reason I asked if it would be like an association was due to this very fact that people can buy now and just sell it off in a couple of yrs for some real estate developments ans your intention was not that and I appreciate that. So if there are some rules and an association only then this can be binding. That's also one of the reason I asked if the whole 100 acres have to be bought.
Also as you said, it is a very short notice, I am interested, but need some time to think and see if I can make my finances viable and also to get the understanding right.
Anyways, really nice initiative
Hesh
Point 7 as you say does not sound right. How can a person be restricted to just 2-3 acres when you and your friend have taken 10 acres each. This is not to be taken in the real estate spirit. Making the max to be 10 acres per person would be more fair. The reason I asked if it would be like an association was due to this very fact that people can buy now and just sell it off in a couple of yrs for some real estate developments ans your intention was not that and I appreciate that. So if there are some rules and an association only then this can be binding. That's also one of the reason I asked if the whole 100 acres have to be bought.
Also as you said, it is a very short notice, I am interested, but need some time to think and see if I can make my finances viable and also to get the understanding right.
Anyways, really nice initiative
Hesh
Re: Forming farming community
Hi..
I am not having farming background and my income is more than 2.50... will you consider me?
My mobile number 9886550172
Thanks & Regards
Gopinath
I am not having farming background and my income is more than 2.50... will you consider me?
My mobile number 9886550172
Thanks & Regards
Gopinath
Re: Forming farming community
Nags,
I too had been thinking on similar lines for a long time. I am from IT and my father is a retired employee from Agriculture Department. Please count me in. Please plan for a meeting with all the interested parties on a weekend and let us discuss how we can proceed further.
If like-minded people come and form such an association, we should be able to turn this idea of a Green/Organic farming into a viable proposition.
Thanks,
Venky
I too had been thinking on similar lines for a long time. I am from IT and my father is a retired employee from Agriculture Department. Please count me in. Please plan for a meeting with all the interested parties on a weekend and let us discuss how we can proceed further.
If like-minded people come and form such an association, we should be able to turn this idea of a Green/Organic farming into a viable proposition.
Thanks,
Venky