I along with 3 other friends bought. 1.25 acres of land with each of us contributing Rs 30,000 some 20 years ago.The idea was all of us being engineers ,if we have to start our own manufacturing unit,we will need land.
The prices in that area started appreciating and the nuisance of local goons started increasing,we had to shell out large amounts as Chanda for local festivals etc....then one day we came to know that one lady in the village had encroached on 1/2 an acre of our land .We approached the village leaders but later came to know that the lady was a keep of those leaders so nothing will happen.We wanted to sell the land and found a buyer but the buyer said you sort out the encroachment then only he will buy.You won't believe ,we had to make gift deed and gift 1/2 acre to the lady by subdivision,give a lunch to all villagers and then we could sell remaining 0.75 acres.We still made good profit on our investment but if that land we could keep,that would be worth a few crores today,but it is not our cup of tea.
That was my first and last investing adventure in land investment.
Smart_trade
The prices in that area started appreciating and the nuisance of local goons started increasing,we had to shell out large amounts as Chanda for local festivals etc....then one day we came to know that one lady in the village had encroached on 1/2 an acre of our land .We approached the village leaders but later came to know that the lady was a keep of those leaders so nothing will happen.We wanted to sell the land and found a buyer but the buyer said you sort out the encroachment then only he will buy.You won't believe ,we had to make gift deed and gift 1/2 acre to the lady by subdivision,give a lunch to all villagers and then we could sell remaining 0.75 acres.We still made good profit on our investment but if that land we could keep,that would be worth a few crores today,but it is not our cup of tea.
That was my first and last investing adventure in land investment.
Smart_trade
