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Investors For 7Acre Land, Chennai : Suggestions

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Investors For 7Acre Land, Chennai : Suggestions

Last updated: December 18 2013
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  • Investors For 7Acre Land, Chennai : Suggestions

    Hi,
    My family owns a ~7 acers of land within 20 kms from Chennai. We want to sell it. Yet I am not sure how to attract investors. I want to skip multiple level brokers. The land is bound on 3 sides by road, approx. 1000ft road facing.

    We had been farming on this for more than 2 decades now, but with lack of man power we want to dispose it off and re invest somewhere else.

    Well... The question as a one liner is;

    How to get investors?
    Thanks,
    Balaji S
  • #2

    #2

    Re : Investors For 7Acre Land, Chennai : Suggestions

    One word answer is "Advertisement"
    Other work around is Look for JV
    Originally posted by balajis View Post
    Hi,
    My family owns a ~7 acers of land within 20 kms from Chennai. We want to sell it. Yet I am not sure how to attract investors. I want to skip multiple level brokers. The land is bound on 3 sides by road, approx. 1000ft road facing.

    We had been farming on this for more than 2 decades now, but with lack of man power we want to dispose it off and re invest somewhere else.

    Well... The question as a one liner is;

    How to get investors?
    Thanks,
    Balaji S

    Comment

    • #3

      #3

      Re : Investors For 7Acre Land, Chennai : Suggestions

      What is the price? and can this be sub divided before seling?

      Comment

      • #4

        #4

        Re : Investors For 7Acre Land, Chennai : Suggestions

        Instead of investing somewhere else, could you hold on to it for a few more years until the surrounding areas develop.
        then you can command a higher price or a greater share...

        But id you decide to sell it now and invest it elsewhere...the property you would be buying will never be equal in worth at current market rates to the property you are going to sell...

        For example, you sell your property now for 100 rupees...
        Incidental expenses 1% of 100 = 1 rupee so money left = 99
        And when cash is in hand we always spend a lot more than not and lets say you spend 5% of the total worth until you locate a property to invest = 5, and money left over is 94
        And the property you are going to buy should be under cash in hand to not incurr loan interest... and this includes registration and all other incidental costs involved in buying the property
        (And Im guessing that if you sell an agricultural property, you can only buy another agriultural property to avoid CG or you should invest in CG reducing options... users with more knowledge pls correct me)

        So the old property will be greater in value than the new investment you are going to make. But then again it is your prop and your choice / gut / analytics come first and reign supreme...

        My advice - Hold on to it for a few more years and you will make much more than you can make now.

        Also another optional thing I would do if the prop were mine - try to fence your property off from the public and try to clear all dues with the local body. also try putting up a small hut / kutcha house and get an eb connection, water etc for the said property and pay your dues ontime regularly. This will only cost you peanuts but the value you add to the property is much more considerable.

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        • #5

          #5

          Re : Investors For 7Acre Land, Chennai : Suggestions

          Originally posted by balajis View Post
          We had been farming on this for more than 2 decades now, but with lack of man power we want to dispose it off and re invest somewhere else.
          Sorry to divert your question.. May I know what are the reasons that makes a family to decide to sell off their farming lands (apart from lack of man power)? Is it lack of support from Govt, Lack of sufficient rains, lank of support from banks, agents ??

          From Neeya Naana episode and other blogs, I read that the rate at which farm land is disappearing in the outskirts of chennai is alarming thereby affecting water table.

          Are you going to reinvest in farming again or just pure RE properties?

          Again, my intention is , just to know the reasons that makes one to take this decision. Even I have seen lot of farmlands behind Medavakkam fastly getting converted to concrete spaces.

          Comment

          • #6

            #6

            Re : Investors For 7Acre Land, Chennai : Suggestions

            @vettipayyan,
            The prime reason is lack of laborer. With the 100 days work for villagers scheme, and the fast requirement of laborers within cities getting a person to work on field is getting extremely difficult. We have to personally visit each laborers house and still he may not come to work. Agriculture is also not a highly rewarding industry in terms of money.

            This added to the skyrocketing real estate price makes agriculture, not a viable option around the cities.

            In the last 3-4 years govt. is also trying hard to make agriculture profitable, but every such support stops with the need for manual labor at some point.

            Comment

            • #7

              #7

              Re : Investors For 7Acre Land, Chennai : Suggestions

              Very true Balaji. It is very difficult to get the man power.

              Comment

              • #8

                #8

                Re : Investors For 7Acre Land, Chennai : Suggestions

                Originally posted by balajis View Post
                @vettipayyan,
                The prime reason is lack of laborer. With the 100 days work for villagers scheme, and the fast requirement of laborers within cities getting a person to work on field is getting extremely difficult. We have to personally visit each laborers house and still he may not come to work. Agriculture is also not a highly rewarding industry in terms of money.

                This added to the skyrocketing real estate price makes agriculture, not a viable option around the cities.

                In the last 3-4 years govt. is also trying hard to make agriculture profitable, but every such support stops with the need for manual labor at some point.
                Thanks for the response, and helping me understand the ground reality. Just one question, even before you took decision, did you use to face repeated offers from Builders/Agents promising good offers for your land? Again just for knowledge purpose.
                Last edited December 30 2012, 01:12 AM.

                Comment

                • #9

                  #9

                  Re : Investors For 7Acre Land, Chennai : Suggestions

                  Can you PM your contact details please

                  Originally posted by balajis View Post
                  Hi,
                  My family owns a ~7 acers of land within 20 kms from Chennai. We want to sell it. Yet I am not sure how to attract investors. I want to skip multiple level brokers. The land is bound on 3 sides by road, approx. 1000ft road facing.

                  We had been farming on this for more than 2 decades now, but with lack of man power we want to dispose it off and re invest somewhere else.

                  Well... The question as a one liner is;

                  How to get investors?
                  Thanks,
                  Balaji S

                  Comment

                  • #10

                    #10

                    Re : Investors For 7Acre Land, Chennai : Suggestions

                    Originally posted by balajis View Post
                    @vettipayyan,
                    The prime reason is lack of laborer. With the 100 days work for villagers scheme, and the fast requirement of laborers within cities getting a person to work on field is getting extremely difficult. We have to personally visit each laborers house and still he may not come to work. Agriculture is also not a highly rewarding industry in terms of money.

                    This added to the skyrocketing real estate price makes agriculture, not a viable option around the cities.

                    In the last 3-4 years govt. is also trying hard to make agriculture profitable, but every such support stops with the need for manual labor at some point.
                    Also called as National Rural Employment Guarantee Act, though a well intended policy, it is killing agriculture throughout the state (and possibly throughout the country as well). Apart from this reason, also add 1 rupee rice, free TV, free mixie/grinder, free goat, etc. - A perfect recipe to make the future generations lazy and unproductive.
                    Last edited January 2 2013, 08:44 PM.

                    Comment

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