This is basic and very important question.
Apparently, at first look, it is seen that, if someone goes for purchasing agricultural land , within same area, and he compares the prices per square feet or per acre, he always finds that the prices in the scheme are about 2-3 times more than that of price offered to him for direct agricultural land. And automatically the person starts to think that let us purchase the agricultural land and let us develop by ourselves. This will save lot of money and also we can develop this land in a more better way.
But actually this never happens. Let us discuss why?
First of all if you are offered with a land, which has scenic location, cultivable terrain, standard approach road and some source of water for irrigation, within the land, the land cost itself will be very high.
Let us see the example. For Wadikond, Gharadi, We are offering plot of half of acre at Rs. 14,99,000.00., i.e. about Rs. 75 per sq. ft. Now Wadikond, is adjacent to state highway and also had plenty of amenities, like water source, availability of water, electricity Road, for every plot, common guest house, common kitchen, etc. etc. (For more details please log on to Wadikond.com or better visit Wadikond and see it with your own eyes). But just only because of area of Wadikond is adjacent to state highway, the government valuation itself for Wadikond is Rs. 49 per sq. ft. Thus in this case Land cost is huge.
Now, the other very important factor is the time. You being professional and engaged in other activities which are running away from this area, you have very limited time to devote for development of this acquired land. Beside this you have very little information about the climate, the standards of this area. Other than that you are not even aware of the sources for material and professionals or labors, which may require for the development from this area. This leads in spending more and achieving less and unnecessary delays in development.
Also for development you have to interact with lot of Government Departments .Few of them are Revenue department for 7/12 extract, Indexing your name, etc. Then yu also have to deal with MSEB, for electricity, Grampanchayat for certain permissions, etc. etc.
Then you have to have knowledge of house building, which type of house will be suitable for this area, how the low cost house can be built, etc. etc.
Even you have to have knowledge about various revenue related important and required documents like 7/12 extract, 8 A extract, to enter the borewell or well, which you had dug, in 7/12 extract, etc. etc.
Furthermore you have to have the thorough knowledge of horticulture. That means, you should be aware of which plants grow better in this area, which plants can be grown in this soil, how and when to plant them, how and when to irrigate them, etc. etc.
Then you have to employ at least one person, who will guard your property and also will maintain your property.
Now monitoring such a person or persons or family, is another task. Stil, you are constantly worried about, whether they are really doing the things, whether they are taking due care, etc. etc.
Then another headache starts when the farm starts yielding. You have to collect the yield at very proper time, make arrangement of packing that, then make arrangement og selling that, etc. etc.
And all these things must be managed by you only, that too without hampering your routine schedule or business or work.
And still you cannot have a kitchen or cook, initially there, unless you build house, you have to stay at some other place and monitor the development of the said farm land.
Ultimately you end up in spending twice or thrice of that of what you had thought, and that too after wasting lots of energy and time of your own.
Also, the purpose i.e. relaxation and recreation of yourself, for which you had planned for or owing this farm land, gets completely wiped out.
And you finally find that, neither had you saved any money, nor you could develop it better and had only spent your huge time, efforts and energy in this exercise.
Now, you yourself decide, what is the better option ????