We all know, these days land is a valuable resource, even a tiny piece of land may be sold for a large sum of money. However, there are now various options available if you wish to use your undeveloped land for income generation rather than just agriculture. So let’s see how to earn money from empty plot.
Post your vacant land ad on NoBroker for free and start earning. Opt for NoBroker landlord plans to find tenants for your property.1) Build a hotel or stay at home
The fact that most empty lots are located outside of cities can be quite advantageous. Constructing a hotel is a profitable business venture if you have land close to a highway or between two well-known locations. Additionally, there is less competition in this area, and food selection is always in high demand. One of the most typical strategies to earn a lot of money is this. This is one of the main methods how to earn money from vacant land.
2) Storage Facility
You'll require a bigger plot of land to build storage areas (an acre at least). Based on demand and location, if done effectively, it might pay you from around Rs.2 lakh to Rs.6 lakh per acre every month. It is profitable to construct a warehouse and then provide storage services to potential customers.
3) Residential Development
Making residential units is a possibility if you have undeveloped land near a city. Residential development could not be as profitable when done on bare land in the suburbs. In suburban locations, independent residences can work well. This will help you understand how to make money from empty land in India.
You are now aware of how to earn money from empty land.
Read More: Are taxes on the vacant land deductible? What is the procedure to install a tower on vacant land? How to rent out vacant land in Chennai?Most of you must be aware that India is a country with great diversity and unexplored territory that covers millions of acres. It might be a great opportunity to make a consistent income if you possess vacant land in India. But, for that, it is crucial for you to have information on your property's size, quality, soil, strength, etc. Let’s go through the different ways on how to make money from land in India.
Indian unoccupied property may be used in various ways to generate income as mentioned by Manjot, Aman and Bajwa Manjeet above. I have also shared some additional strategies below through which anyone can profit from their vacant land:
You can sell your land to real estate investors and receive a monthly income from it if you possess land but don't want to do anything with it on your own.
In India, the rich soil of unused land can be used to cultivate crops. You can access the agricultural market and benefit from India's agricultural economy by leasing, selling, or setting up your own farming operation for farmers.
Growing crops, trees or in-demand foods can also guarantee a consistent income.
If you're considering what to do with vacant land, a parking lot is also a great option. From the parking fees alone, you can make a considerable sum of money. However, you cannot erect a parking lot anywhere you choose. You can choose to have a parking space if your land is located where there is a need for one.
I hope you got an idea of how to make money from vacant land.
Post an ad for your vacant land for free on NoBroker and start earning. Get the best deal for Commercial Owners on NoBroker. Read more -I want to rent my vacant plot for commercial purpose. What is the process?
How to rent my empty land for warehouse?
Hello there. We too had a vacant land in Pune around 5 years ago and wanted to use it to earn passive income. We didn’t have a huge space, so we went with renting out the space for a bank ATM. But, there are other ways on how to make money with vacant land.
How to Earn from Empty Land?
There are several ways through which you can make good use of your vacant land and earn money. These include the following.
You can give your land for installing solar panels. You would need a lot of space for this though. So, if you have the available land, go for it as it is a good yielding business. Solar energy is in demand and you can expect a stable rent for this.
You can also give your space for shooting. Filmmakers are always in search of places and if your land suits the criteria, the rental yield can be quite high.
Another way to make money is by giving the land for building a commercial space like a complex. Here too, you can expect high returns based on the location and the area of the land.
So, these are some ideas from my side. I hope this helps.
Earn Rental Income by Rent Out your Land at Zero Brokerage Via NoBroker! Some related information:What are the Responsibilities of a Commercial Landlord?
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How to use vacant land to make money in India?
Aadesh
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September 8, 2021
2021-09-08T16:57:07+00:00 2023-09-13T20:53:12+00:00Comment
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