Hey Visveswaran,
There are countless ways to make use of a plot and generate passive income from it, and that too without building a house or flat, depending on the size and location of the land. I've provided some great possibilities here.
1) Long-term rental agreements: Many companies and property developers are interested in leasing land. Some property developers have the option of leasing property for 10 to 100 years. And they develop both commercial and residential properties on this site. Instead of the property, they continue to pay the landowner their usual monthly rent. If there are no immediate plans to use the land, you might want to consider this option.
Get in touch with the legal experts of NoBroker to draft your rental agreement an get it delivered at your home.2) Convert it into a cow stable: Cow milk is very popular in urban areas. The area can be used for raising cows and buffaloes. There is a tonne of potential for this method of earning a steady income.
Convert it into a nursery: This is yet another excellent use for an empty plot of land. A nursery business is almost never a waste of time, particularly in urban and suburban settings.
4) Rent it out for parking: If you are fortunate enough to have a plot in a busy, high-traffic location, this is the most economical yet effective option to generate a steady income.
Post a free ad of your plot on NoBroker for renting it out to prospective tenants and earn passive income from your plot.5) Convert it into a community centre: Space is limited in urban areas, making it difficult to host events like weddings and birthday parties. You may build a community hall on your property.
6) Convert it into a godown: You can quickly change your land into a godown that store owners can rent by spending a small amount of money.
7) Make it an amusement park: If you have a large plot of land, you should put in some swings and pools to make it a play area for children or an amusement park.
There are numerous additional opportunities to use your land to make passive income. You merely need to consider an option that will benefit your land the most.
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I own a plot and how can I use it effectively
Visveswaran I
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3 Year
2022-10-07T11:36:08+00:00 2022-10-07T11:36:11+00:00Comment
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