Recent Real estate reports say that millionaires invest more on farm houses now. Most of them consider owning farm houses as a symbol of prestige.
Millionaires find it easier to have a farm house in the outskirts fo the city. Lower rated land, easier process of approval, etc. make it one of the best options for them.
The term ‘farm house’ struck the news headlines recently. Real estate developer Mr. Ponty Chaddha lost his life at his farm house. The murder of actress Laila Khan also happened in her farm house. These incidents proved that the wealthy people do own farm houses.
The purpose behind owning farm houses is not clear. One of the leading hotel businessman opined that this is the expression of higher kind of boasting. Millionaires conduct farm house parties which are mostly noted with the presence of some international stars models or Bollywood actors.
Recent studies prove that the number of farm houses is increasing everywhere. In almost all the suburban areas now farm houses are visible. Farm houses are meant for the farmers and not for the millionaires. However with Delhi government’s liberalization policy, the number of farm houses has increased in the city.
The National Capital stands on the top with highest number of farm houses. It is estimated that there are 2,700 farm houses here. There are higher number of farm houses in Mumbai and other main cities of India.
Most of the farm houses are located at the suburbs of these cities. The emerging millionaires find the farm house parties as a means to get acquainted with the millionaires. The same hotel businessman said that he was wondered to know that the site of such farm house parties cost crores of Indian rupees.
Farm houses are suitable for conducting ultra-expensive parties. Normally farm houses are bigger in size and cheaper in cost. The government laws permit the real estate construction in only 10% of total land. This avoids the extra cost on building. The land is cheaper in suburbs. This adds more possibility.
In the capital city alone nearly 7000 acres of land is used for constructing farm houses. The revised floor-area ratio by the Delhi government acts as an encouragement to construct farmhouses. Real estate experts and consultants say that this demand is expected to increase with the increase of HNIs.
