Need your thoughts/opinions here please. A friend of mine has pointed me to 19acres of agricultural land located in the foot hills of the western ghats in north karnataka. This piece of land is surrounded by evergreen mountains. The owner says 9 of the 19 acres is facing a pond/some sort of water front. He is presently growing coconuts in 3 acres and about 6 acres for paddy cultivation. Rest of the land is not been utilized. Owner says all documents in place except that he has taken a loan on the basis of the land which as per the owner can be cleared up and get necessary clearances from his bank. So far awesome.
The problem areas:-
The land is accessible by road and there is a state highway about 15 Kms from this land. But, the problem is there is no electricity yet in this village. The owners says light poles have been installed up to the next village and its only a matter of few months before they will have electricity in this village.
I have not yet seen the land but knowing where it is located, I guess it has to be lateritic sandy soil suitable for coconut plantation, arecanuts, banana etc. What else can i grow here? Growing vegetables/fruits has its own problems as the nearest city is Hubli at approx 140 Kms, Karwar at 70-80 kms, Panjim at 180 kms, Belgaum at 200 kms, Mangalore at 280 kms. Do you guys think being this far away from the cities is a hindrance???
Asking price is about 1.5 lakhs an acre. (I would simply pay 1 lakh just for the clear title ) On a serious note, do you guys think its worth the money ? Do you even think its worth driving down 12 hours to check out the place?
Your initial thoughts/feedback/apprehensions/questions are welcome. Will take it forward from there.