Good news for agri land buyers-Income limit is going to be 25Lacs in Karnataka

Karnataka Govt. presented a bill of land reforms and it has a proposal of increasing income limit to 25lacs. If it is passed in both houses, agriprenures can benefit out of this.
Earlier this limit was 2lacs.

i am skeptical if this is passed. then there will be no opportunity for the govt revenue department employees to demand bribes.  :stuck_out_tongue:  ;D  :sunglasses:

No. It is just presented this week, pending for debate. shall be passed in next session.

This is very good news. However, if they make a further allowance for non-farmers to engage in agricultural ventures, it would benefit all.

Such a decision looks welcome on the face of it. However, it should also ensure that Agri land is not converted for commercial purpose mercilessly. Like the ponds and lakes are filled now a days and apartments are built on these. Because of this water scarcity in cities.  The purpose of this change should be to attract and nurture agri interests commercially, scientifically and environmentally. 

I think 25 Lakhs is too much, This is more for the Politicians to but land in their own name instead of benami properties.

Pros :

  1. Agriculture land prices will go up (Not that it is less now)
  2. It will encourage many people to start agriculture.
  3. Companies can get involved legally by buying land.

Cons:

  1. Gets easy for Industiralists and Real estate people to buy land and convert it for commercial purpose
  2. Easy for Benami properties to be taken into influencial peoples name

Regards,
Vikas