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Farmers holds more houses, says survey

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‘Invest India Incomes and Savings Survey 2007’, reports available to the www.propertykhazana.com says that the ownership of homes in India is highly owned by the agriculturists or the community engaged in the agriculture activities. It is approximately about 38% of the total homes in the name of farmer’s or people involved in agriculture activities with the annual earnings of more than Rs. 90,000.
It is further mentioned in the reports that about 80% of the homes belonging to the farmers are without any bank loans and very few in the community have availed the bank loans in order to turn their dreams into real and this is less than 14% of the total.
Further the farmers owning houses more than 1 are gazing hard to sell their homes to clear their outstanding whatever is left for due. In some case the farmers are not aware of the market and may not come across the potential sale.
It is said by a source at the www.propertykhazana.com that more number of farmers were benefited with the boom in the realty market especially those having lands on the outskirts and close to the metro limits. Some left with the properties are now the millionaires and the property prices have gradually increased from Rs. 1.7 Lakh to Rs. 3.4 Lakh in the rural limits and similarly the urban properties have also fetched good returns with about 100% appreciation. The study also says that India is lacking with about 20 Million housing units in urban and rural limits.
Source: NBTVLIVE

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