How To Earn A Regular Income Using Your Vacant Land?
Real estate investment is one of the most demanded choices for long-term investors. The land itself is an asset and to utilize it for a monetary benefit can be a great passive income source to start with, which if utilized properly can bring in huge profits. Whether you have ancestral land or you are thinking of buying land to use for commercial purposes, this article will help you deliver all the necessary information on how to use vacant land to make money in India.
Before getting into it you should keep in mind that there are uncountable options on how to use vacant land to make money in India, but not all the options will bring in the desired profit that your land can offer.
Your land may be small, but if it has the potential and you make the right use of it, your land can generate an income more than any other land twice or triple its size. So, let’s get on with the topic- ‘how to use vacant lands to make money in India.’
How Can I Use My Land To Make Money In India?
Before explaining the various ways how to use vacant lands to make money in India, it is important to know in depth about your land- size, quality, soil, strength, etc. Let us understand this with an example- Suppose you have land that is apt for agricultural use, but there is a huge demand for a storage facility around your area. You will now need to see the profit that can be generated from both the available choices. If you wish to use it for agricultural purposes you need to do the competitor’s analysis, as many farmers have been growing the same products and have an established customer base. If you wish to go with the second option, you need to compare the cost and revenue.
Apart from the construction cost, there will be other variable costs like electricity consumption, freezers, security cost and many others. Also, you need to study if you are willing to give it to a person or a company. After all the necessary expenses and costs are calculated, compare the two and choose the one that would bring in more profits to your hand for the long term.
If you have your own land and do not wish to do anything on your own you can give your land to real estate investors and get a monthly income from your land itself. Moreover, with land comes a lot of legal involvement, you need to take time and study well about everything about the party you are offering your land to. In case, you chose to work on your land on your own, here are the profitable ways to go for:
Open a plant nursery
Nowadays everyone likes to have a pot or two, with flowers and plants. Those living in cities do not have enough space to have their own gardens, hence they rely on buying pots, soils, seeds, and fertilizers. The demand is never-ending. If you have your own land, you can make a stable income of 6-7 lakhs per annum with proper delivery options and advertisements.
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Open an organic fruit and vegetable shop
You might be thinking about how it can be a profitable option when people get their groceries delivered online. But organic products are those which are grown naturally, and thus tend to get rotten easily. So, many households prefer to shop on their own from organic shops themselves. Thus, with proper advertisement and customer accessibility, this can be one of the best options that can be included on how to use vacant land to make money in India.
Photo Booths or Photography Site
We always treasure our photos. As social media sites move at an exponential rate, photos are receiving exposure like they never have before. Photos can be taken anywhere and at any time, but they appear most impressive when taken in natural outdoor settings. Here’s where your property can be of great assistance in creating interesting and unique photo booths or photography sites.
Build a room or house
This option is one of the best if you are intending to make money in India from your own land. You can either build a house or a room depending on the size of your land. You can rent your house and get a monthly income from it. In case, you have a small land enough for a room or two, you can rent it for coaching classes or shops. If you get the right customer, you can earn more from a single room than compared to a house.
How Can The Land Be Used To Create Money?
Now you are aware of the few profitable options you can use if you have your own land. Let us discuss the other profitable options on how lands can be used to create money from either your own land or from rented land. The options available on how to use vacant lands to make money in India are:
Drive-in Theatre
In some theaters, people can wilfully park their cars while they watch their favorite movies or parts of them while in their vehicles. Currently, it is a rare form of outdoor theater. Drive-in theaters, however, may become a favorite in the future. To run a drive-in theater on your vacant land, you only need a large screen investment and a few refreshment counters. It is also possible to contribute to that if you lease out your land to build a theater or if you build one yourself and make a handsome profit.
Amusement Parks
Amusement parks are a wise choice for someone who loves fun and wants to build a self-rewarding business. Over the past few years, amusement parks have become increasingly popular. The outdoor entertainment and recreational industry is expected to grow in the coming years. It is essential to prepare a business report prior to starting an amusement park. In addition to assisting in the development of physical planning guidelines, it confirms the physical parameters, such as the size of the total land area needed and the size of the building.
Farming
Indian soil is perfect for agriculture, and if you have a vast land you can use it for agriculture. The demand for vegetarian and vegan products is never-ending. There are many fruits, vegetables, and spices in India which are in high demand in other countries. You can export those as well. Exporting goods can bring in huge profits. Thus, farming can be an option you can opt for to make a huge amount of money. Make sure you check the quality of soil and look for options that are best suited for your land. You cannot choose to grow cotton on your land if your soil is best suited for rice or wheat.
Selling Your Land
This is completely up to you whether you want to give it on lease or sell your land. In case you want to sell your vacant land, the price of land never depreciates, the value gets more and more as time passes. The return on investment from land is very high depending on the area, quality and location of your land. You need to do thorough research to make sure your land is valued at the maximum. For example, if you clear, level and prepare your land making it suitable for the construction of a building, the value of your land will increase drastically.
Growing trees for woods
Foresting your land for various kinds of wood can be a profitable option as well. One of the disadvantages that you can face is that it may take years. A tree can take from seven years to 50 years to produce the needed wood. The value of your timber is always higher. As per research, the demand for wooden household furnishings is always growing. The demand for certain types of wood varies depending on the area.
If you are based in the northeastern part of India, the demand for bamboo is higher. Similarly, for hilly areas, the demand for wood will be for firewood. Not just furnishings, wood is in high demand in paper manufacturing industries as well. Basically, the demand will be based on your wood type.
Solar Energy
As you can see many government offices in India have solar panels installed or purchase solar energy for electrical needs. And depending on the initiatives taken for climate protection and increased focus on sustainable development goals, the transition from the current ways of procuring energy to solar energy is inevitable. Thus, if you have the needed capital to install solar panels, you can earn a hefty amount from the land. The other option that will be equally beneficial is renting it out to a company that wants to install solar panels. Make sure that the company purchases the solar energy that is produced from your land. There is also another way, you can partner up with those small businesses that have their own solar farms. These businesses earn profits by selling energy to electrical companies.
Racing Events
The sport of racing is one of the most popular in the world. A large enough ground is necessary to ensure smooth racing conditions and to accommodate audience members, whether it is a flat race or a race with bikes, cars, horses, dogs, etc. Your vacant land will certainly profit from racing events, which are diverse and don’t require a large amount of investment. The most effective way to earn money with vacant land is to use it for races! If you possess a piece of land, this is the best way
Junkyard
The option might not sound quite attractive, but it has a great potential to make a huge amount of money out of your land. Above all, it is one of the easy ways to make money out of your land and has the potential to become a full-time business option as well. So, let us see how this works. You buy the unwanted items which are thrown out, store them on your land, and sell them for scrap. There is a huge demand for scarps. Many have profited in India so far from this business.
Billboards
This is a lucrative option if your land is located in a high-traffic area. There is no need for a larger surface area and you can earn a huge sum depending on the company that chose your land to use it for advertisement. This is one of the best options if you wish to earn money in a short span of time.
Parking lot
This is another option you can consider if you are finding ways on how to use vacant land to make money in India. You can earn a considerable amount of money from the parking fees alone. But you cannot set up a parking lot wherever you want. If your land is at a place where there is demand for a parking space, you can opt for it.
Turn your ground into a campground
There is nothing like camping to keep you young. People look forward to engaging in activities like camping from time to time because they help them shake the dust off of their boring routines and lifestyles. Simply get your contacts to some travel or tourism companies and you can get your vacant land booked for camping here. This is where your land business can flourish. This is definitely a fun and exciting way to use a boring piece of land.
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FAQ
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How To Make Use Of Vacant Land?
If we talk particularly about vacant land and how to use vacant land to make money in India, most of the choices will be based on the size and type of land. Before we discuss the available options on how to use vacant land to make money in India, you must understand what vacant land is. In layman’s terms, vacant land is land that has no buildings on it and is not being used. Vacant land doesn’t always mean barren land, the soil in the land can be highly fertile and has not been put to proper use.
For your vacant land to be used to its full potential, there are a number of businesses that you can consider, but first, you need to consider a number of elements like – the size, the location, the zoning laws of the area, the source of water, the safety hazards and precautions, the soil quality, the vegetation, etc.
In case, the vacant land is barren, one can utilize it profitably as a storage house, cold storage unit, or junkyard, or sell it to builders. They can also use it as a solar energy farm. You should consider the other factors that will have an influence like location, size, etc. If the land is of no use, it is better to sell it or put it on lease to whoever needs the land. -
How To Earn Money From The Land In Village?
If we go through the statistics, village land mostly consists of farmland or ancestral household property. Now, the options available to make money out of your land will depend on the type of land. If your land is located in between the farms, the only option is farming. If you do not have the time to look after the land, you can lease or sell it to those who have farmlands surrounding your farmland or to someone in need.
If your land is that of a traditional household, you can transform it into a guest house or a homestay for tourists. This is one of the profitable options where you can earn money from your village land with your local heritage being a strong influencing factor. If your village is a developing one, there might be demand for government and corporate offices. If you rent your land for that purpose, the return will be considerably high as well as consistent
Conclusion
To sum it up, Indian lands are versatile and can be used for any purpose given the other factors are favorable. From making a modern shopping or residential complex to transforming it into a junkyard, from long-term to short-term, this article has provided detailed insights on how to use vacant land to make money in India.
If you have found your option, it is advised to make thorough research about the demand in your locality, the required cost, and the expected revenue, as well as make sure all the legal documents regarding the land are proper and valid. The options that we have mentioned are on a pan-Indian basis. Based on your locality, you can improvise and modify your choices. There is a high need for passive income, seeing the cost of living, and using land that has a value of its own, is one of the best ways to get that extra amount for a comfortable living.
