Investing in agricultural land is a great way to diversify your portfolio and generate long-term returns. Agricultural land can be used for many purposes, including farming, ranching, and recreational activities. It can also provide a steady stream of income through the sale of crops or livestock. The returns on investment can be significant, as land values tend to increase with inflation. With everything good, it is also important to understand the potential risks and rewards associated with this type of property. When considering buying agricultural land, it is important to consider certain factors.
At Ekvira Properties, we provide farmhouse plot for sale near pune mumbai. We are well aware of the legal and value aspects of good agricultural land. This blog is an initiative to help our buyers be more aware of the land they are investing their hard-earned money on. Let’s explore!
5 Tips for Buying Agricultural Land in Maharashtra
- Ensure you are a Registered Farmer
In Maharashtra, the government has put regulations in place to ensure that only registered farmers can purchase agricultural land. This measure is intended to protect the rights of small farmers and ensure that they have access to land for farming. So ensure you are a registered farmer as per the Maharashtra Govt. Law before you make up your mind to buy the land.
- Know the Land’s Usage History
Understanding the previous use of agricultural land before buying it is essential for any prospective buyer. With this knowledge, buyers can make an informed decision about whether or not the land is suitable for their use. It can also provide insight into potential environmental hazards, such as soil contamination or water pollution. By researching the history of agricultural land, buyers can ensure that they are getting a safe and usable piece of property that will serve their needs well.
- Find out Stamp Duty on the Land
Stamp Duty is a tax that is imposed on land transactions. Prospective buyers need to be aware of the stamp duty that they need to pay when purchasing a property. The stamp duty on land is different for every state. Maharashtra’s Stamp Duty is usually around 4-7% of the consideration land value, mentioned in documents.
- Check Zoning Regulations
When considering purchasing agricultural land, it is vital to check the zoning regulations before deciding. Knowing the zoning regulations for a piece of agricultural land can help you understand what type of farming activities you can do, or if any restrictions in place could affect your plans. It is essential to research zoning regulations to know exactly what you’re getting into and can plan accordingly.
- Collect Land Measurement & Encumbrance Certificates
Last but not the least, collecting land measurement and encumbrance certificates is an important task that needs to be done to ensure the legal ownership of a property. It is necessary to get these certificates as they provide information about the exact area of a property, its boundaries, and any encumbrances or restrictions on it. It helps verify the authenticity of a property and ensures that all legal requirements are met. The certificate also serves as proof of ownership and can be used as a reference for future transactions.
Conclusion
We wish you good luck as you take the first step towards realising your dream of owning agricultural land! We understand that it can be daunting to purchase agricultural land, but we are here to help. At Dwarka Kingdom, we have Agricultural Plots near hinjewadi pune. Feel free to get in touch and buy a piece of land that is 100% legal and connects you to nature!