Can farmer's son earning 26 lakh buy agricultural land worth 49 lakh
I am a Software engineer earning >25 Lakh per Anum and want to become a farmer in few years.
My father is an active farmer with small agricultural land in his name, (Ancestral property)
I have found an agricultural property which cost 49 Lakh as per prevailing govt. rates.
Local lawyers have given mixed opinion since I cross 25 Lakh limit on my eligibility to buy an agricultural land.
I need an expert advise/opinion on this matter and request your kind help.
Asked 8 months ago in Property Law from Shivamogga, Karnataka
Karnataka Land Reforms (Amendment) Bill, 2015, has increase the income limit for non-agricultural sources to purchase farmland from Rs. 2 lakh to Rs. 25 lakh.
2) in your case since you are software engineer and earning more than 25 lakhs per annum you cannot purchase agricultural land
3) Section 79(A), , bars individuals with an annual income of above Rs 25 lakh from non-agriculture sources from buying farmland. The law empowers the revenue authorities to declare such purchase "null & void" and take away the ownership of the land.
Thank you. If I go to another job with <25 lakh income, Will I be able to buy the aggr. land from savings of past non-agricultural income ? Or is there any other legal way to get this done?
Asked 8 months ago
1) income for last 5 years is calculated
2) further income for all members of family are taken into account
3) hence you cannot purchase agricultural land
Hi, If your income is less then 25 lakhs per year then you can buy a agricultural land. It has to be calculated 5 years average amount.
Since your annual income exceeds the cap of 25 lakhs set by the law you are disqualified from buying agricultural land. The annual income of financial year is to be considered. It cannot be that you switch today to a job fetching less than 25 lakhs today and apply for purchase tomorrow.