Unconventional Ways Of Earning Through Land

Fortune smiled on you all of a sudden and you received news that you are soon to inherit land from a distant uncle. Instantly, you busy yourself in thinking about how to use this asset to gain the maximum benefits? Let us make the task easy for you.

Here are some interesting ways in which you can make the most of this asset:

Adventure sports

You are luckier if you own a property at a hill station or on the outskirts of the main city. You can consider setting up a camping site for the city dwellers using your land. As people in metro cities consider going out during the weekends, you can recreate your property as an adventure camp. Though the investment could be slightly higher, your investment would undoubtedly be successful in long run. With one time investment and negligible cost of maintenance, this can be a completely different business idea for you to generate a second income.

Cold storage/warehouses

You can also convert your property into a cold storage and rent it out to food manufacturers. When compared to other options, implementing this idea would require more capital but once things start working, you would be earning a handsome monthly income. Multinational food chains and supermarkets coming to India are raising demand for such spaces. Obtain the necessary approvals and permissions to kick-start the plan. If you do not want to put fund into the asset, you can also rent out space as a warehouse to a logistics companies and earn money from the lease contract.

Event space

Countryside locations for organising parties, events, weddings, etc, are always in demand. With minimum investment, you can earn recurring income from renting out space for events. You can also get in a contractual relationship with an event company for regular income. The initial expenses would be deployed in giving the space a correct look and feel. Apart from this, other allied services such as caterers can be arranged on the case to case basis. Depending upon the location and space, the average rent per day can vary from Rs 10,000-30,000 per day. Get the necessary licenses and permissions before starting off with the business plan.  You can also rent out the space for film shootings which can also earn you hefty returns on per day basis. Though the maintenance charges can be high, the returns will be proportionately higher.

Also Read: Interested In Renting Your Property For Television Shooting? Here's Your Guide

 Plantation 

Plantation is a great way of using land to generate money as well as employment for others. You need not involve in the actual process of harvesting as you can employ the locales for the task. Keeping in mind the soil quality and the location of the plot/property, farming can be done even at a small patch of the land of any size. If the land parcel is too small, you can also consider planting orchards as these involves less investment and great output. However, do check with the local authorities if you can put the land for agricultural use.