Give the best possible model suits to this agricultural situation in INDIA?
I, an agro consultant, will give you one agricultural situation. Please give a best solution to this situation in INDIA. For the details not given, you can assume reasonably. There is a farmer. His age is 40-50 years. Education 10 th std. He is married and his wife is house wife and works with him in the field. She is 35-45 years of age. He has a father of age 65 and can do small works He has a son but he is working in the city. so not available for agriculture. The farmer has totally 5 acre of land out of which 3 acre is irrigated using borewell and the rest in rainfed. His farm is in an average agro climatic zone with reasonable rain. the temperature in summer could vary from 20-30 Celsius and in winter 10-25 degree Celsius. the banks are ready to give him a loan of 8 lakhs and he is ready to invest 2 lakhs. So the total available investment is 10 lakhs. He is not so progressive and active farmer and at the same time he is not even very lazy. You can score him 65% as a farmer. His wife and father can help in agriculture, There is labour shortage in the area and labour charge is costly (Rs 200 for man and 150 for woman ). But he can hire 2-3 labours on regular basis. This is the simulation. Please suggest him a suitable integrated farming system. but it should not be too complicated with too many components like dairy fishery poultry goat mushroom etc, it should user friendly and easy to maintain. suggest him a best model which gives good return in the given condition and not so difficult to maintain. Please dont suggest conventional crops like vegetable, paddy, etc. include some fruit crops like banana, mango and livestock like goat and dairy. small scale floriculture etc, My intention is how can we make a MODEL FARMER happy and economically stable. HE WILL GET PRIVATE CONSULTANCY FOR TECHNICAL ASSISTANCE AND MARKET INFORMATION. Please think about this well and reply.
Is leasing agricultural land a better proposition than buying it for an industrial purpose by an industrialist?
I am still wondering if I understand the question correctly. So to be clear let me verbalize how I understand it as two possibilities, before giving my opinion. SCENARIO 1: You have agricultural land. You have decided to give it to an industrialist. No doubts or questions on that. Your only question is whether you should "lease it out to an industrialist" or "to let the industrialist buy it from you." OPINION for SCENARIO 1: "Your land" and "agriculture to industry" both have serious soul based searches involved - many other answers have approached this idea correctly. It is a huge topic - mostly soul searching. Indeed "government" has stepped in with regulations, strict in many countries, as the society as a whole has done some soul searching for the environment. SCENARIO 2: You are the industrialist. You have a potential land in your radar, and it happens to be an agricultural land, and because of the social awareness and soul searching you are wondering whether "leasing it" feels less guilty in the personal conscience or social regulations than "buying it." WOW thats a real tough one - I can imagine why lawyers for industrialists get paid heavily! OPINION for SCENARIO 2: I like the fact that you are considering to post the question in a social forum - which indicates both personal and social maturity in this context! I guess as many have answered the most critical question would be "Will the land be affected by the industrial activity - will agriculture after the lease be as productive as it is before lease? if yes, then YES LEASE. if no, what is the point of leasing - perhaps legal/social? " On my own I want to say "if it is fertile and productive currently and if your industrial activity can harm it, may be you should reconsider another location!" Last but not the least - I want to say - wow, what a question, with all my education in agriculture, economics, development and spatial information, I am quite stumped by it! Thanks for A2A. Perhaps if we know the exact specific location data it may be easier to answer.
Can we get an education loan using agricultural land as collateral?
Technically, yes, you can get an education loan placing agricultural land as a collateral. While taking an Education loan seems a plausible option for higher education, it might hurt you in the long run.There are other ways you can fund your Higher Education and the best way would be to get funding right from the Institution you are getting your education from, especially here in the US.There are various funding options available for students. You just need to meet the minimum cutoff required to get a scholarship. You could opt for getting a Teaching Assistant position or a Research position that will help you fund your education in some institutions. Talking to professors and being being aligned with their research could land you in a decent job which will cover your tuition fee. Trust me, there are a lot of ways to get funding.They say prevention is the best cure and same is the case with education loans. They compound at a fast pace and you loose track of how much money you owe in the end. Having education loan will fill you with a sense of pressure.I came to US on an education loan, putting the only house we had as a collateral and regret doing so. The restrictions on work permits and a plethora of other regulations that need to be followed have left me with no job offer in hand. Had I been advised on the available options of funding before venturing on with higher education, I would have saved hell of a lot of money and would have a peace of mind.Always try to avoid loans as much as you can. They harm you in long term.Hope it helps.Peace.
How do I get a loan for buying agriculture land or what are the alternative ways to get a loan so that I can buy an agriculture land?
Information about Punjab National Bank Agriculture Land Loan scheme offer to farmers, so that you can have idea about it.TIME SCHEDULE FOR DISPOSAL OF LOAN APPLICATIONS:1 Upto Rs.2 lakh 2 weeks2 Above Rs. 2 lakh & upto Rs. 50 lakh 4 weeks3 Above Rs. 50 lakh & upto Rs. 100 lakh 5-6 weeks4 Above Rs. 100 lakh & upto Rs. 100 crores 6-7 weeks5 Above Rs. 100 crores 8-9 weeks2.MARGIN NORMS:Amount of Loan Margin 1 Upto Rs.1,00,000/- (both for short term and medium term) Nil2 Above Rs.1,00,000/- to Rs.2 lakh 5%3 Above Rs.2 lakh to Rs.5 lakh 10%4 Above Rs.5 lakh 25%Security for the loanProduction Credit/Investment Credit:(i) Upto Rs.1, 00,000/-Hypothecation of crops/assets created out of bank loan;(ii) Above Rs.1, 00,000/-(a) Hypothecation of crops/assets created out of bank loan;AND(b) Charge on land as per Agricultural Credit Operations and Miscellaneous (Provisions) Act of the State concerned/Mortgage of agricultural land valued at 100% of amount of loan for other farmers and 75% of the loan amount for small farmers/marginal farmerORAlternate security, viz., charge/lien over liquid securities such as term deposits/NSCs/KVPs, etc.,which may be considered adequateORSuitable third party guarantee.(a) Under the Scheme of Agri-Clinics and Agri-Business Centres:(i) Upto Rs.5 lakh:Hypothecation of assets created out of bank loan;(ii) Above Rs.5 lakh:(a) Hypothecation of assets created out of bank loan;AND(b) Charge on land as per Agricultural Credit Operations and Miscellaneous (Provisions) Act of the State concerned/ Mortgage/Equitable Mortgage of agricultural land/any other suitable property valued at 150% of amount of loan for other farmers and 100% of the loan amount for small farmers/marginal farmers;ORAlternate security, viz., charge/lien over liquid securities such as term deposits/NSCs/KVPs, etc., which may be considered adequate.ORSuitable third party guarantee.
How do i claim agriculture loan for a farm land for which the original documents are missing ?
Title company will have access to this informtion. Your local assessor office will definatley have this information on hand. If you have a loan against the property than contact your lending agency. I suggest contacting your local assessor office or county records dept in the AM. Than if they wont help contact a Title company it may cost you though. Hope this helps.
Does any bank offers loan to buy agricultural land in India?
Yes you could spend lots of time searching online to find home loan lenders offering the best deals. However it is also always worth considering using your current lender who you currently have your mortgage with.So what reasons are there for staying with your current lender instead of trawling online for new ones? http://www.worldbestloans.com/ As your current lender will have access to all your information then the whole process of approving the loan you request may take much less time. Certainly this is vital in those cases where you are trying to get the rate of the loan locked in before the offer expires.
Can I take loan for my startup business against my land?
Yes, you can take business loan against land to start new business this loan called as Loan against property (lap). Loans are usually given 60% to 90% of the market value of the property in most cases. Interest rates vary from one organization to another, but we help you compare all the offerings from banks and other financial services providers before you finally decide. Loan against Property is a great option to raise funding for a new project, business investment, and other commercial purposes. This can be a cost-effective way to raise funds and is already quite popular amongst entrepreneurs. Being an experienced property loan consultant in Pune, we know all the intricacies related to these loans. With these loans, you can seamlessly tap the latent commercial value of your property and use the money garnered against the same as per your requirements. Mortgaging one’s property to raise funds where liquidity is swiftly desirable is a surefire way of taking care of multiple needs. Additionally, you are also not deprived of property appreciation benefits since the loans are given on the basis of the present market value of your property.
If agricultural land is offered as collateral securities for education loan can part of it be sold before repaying the loan?
A collateral security can be in the form of agricultural lands also. However action under Securitisation Act (SARFASI) is not available to Bank like other residential or commercial properties. Banks accept agricultural as collateral security for all loans. Now the question is whether part of the land offered can be sold before repaying the loan. For that matter if any property, be it agricultural or otherwise including personal guarantee, is accepted as collateral security, the bank normally does not permit sale/release of same as it results in dilution of security. If borrower makes a request and agrees to remit the sale proceeds towards repayment or substitute the property with another valuable property and convince the bank that such permission for sale would not result in dilution of security to bank, the bank may consider such a request. Some times a major portion of the loan would have been repaid regularly as per terms and there may be a necessity to sell a part of land while the residual part may be more than sufficient to cover the outstanding. There may occur a necessity for division of lands in family. There may be a need to sell a portion of land to government when government intends to buy it for public purposes. Banks do accord permission to borrowers for sale of part of collateral security on specific request after ensuring the credit exposure is safe.
Can I use agricultural land as security for an educational loan abroad?
Well. I am not sure about this pal. I am looking for loan amount to start a business, and while i talked with some bank managers they said that they will not provide loans based on agricultural land as collateral. And also he added that RBI frame rules about the non-provision of loans based on the collateral of agricultural land. I am going to file an RTI regarding this. Will share you an additional information while i receive the information.
How do I own an agriculture land in Gujarat?
You can not buy land in Gujarat as Bombay Tenancy and Agricultural Lands Act,1948 prohibits any person who is not an 'agriculturist' within the meaning of the Act to purchase the Agricultural land in Gujarat. Though certain judgements of the Bombay High Court allow agriculturists of other states to buy land in Maharashtra however the same is not allowed in Gujarat. You will have to apply to District Collector for permission under section 65 and 43 of the above stated act before purchase of agricultural land in Gujarat. However, the permission is practically rarely granted by the Collectors. In absence of any such permission proceedings u/s 84/C of the Act shall be initiated against you and ultimately the land would vest in the orignal land owner and if he refuses than the land would vest in the Government. Therefore only buy non-agricultural land in Gujarat.Only registered farmer(of Gujarat) can buy agricultural land in Gujarat.For more informationContact: Abhishek Patel+91–9825003668abhishekdpatel@yahoo.in