Indian HNIs: 58% of Indian HNIs want to buy a farm: Poll
Just under 13% of respondents indicated they were willing to invest between Rs 3 and 5 crore.
About 38% of respondents want to buy a farm property in the hill station. In Maharashtra, the hilly lands of Lavasa and Lonavla are very popular destinations for building farms, second homes, villas, while in the North, popular destinations such as Shimla, Solan, Mussoorie and Nainital are preferred for farms and gated villas.
“Many HNIs gravitate towards the outskirts of the city to build farmhouses and gated villas because they offer easy transportation options. This way, one can go away with friends and families on weekends. In MMR, Kajrat, Alibaug, etc. are popular choices. Panvel is also becoming a premier farm destination,” said Ankit Kansal, Founder and CEO of 360 Realtors.
Industrialists, businessmen, retired civil servants, large corporations from NCR, Chandigarh flock to such places, lured by scenic views. In the south, Ooty is a very desirable farm and second home destination, as it can give people a very calm and serene life.
Meanwhile, 25.5% of respondents prefer to build farms in the outskirts of the city. Sea beaches are also popular farm destinations. Apart from the regular favorites like Pondicherry, Vizag, Goa, etc., other upcoming spots like Western Ghat and Sindhudurg are also attracting buyers’ interest.
“In the NCR, the list includes the likes of Aravalis, Chatarpur, Delhi-Jaipur Highway. In Bangalore, the Nandi Hill area, located about 50 km from India’s Silicon Valley, is gaining momentum,” Kansal said.
Buyers and investors are willing to go the extra mile and spend money on better facilities. According to the survey, 47% of respondents want yoga, meditation and other wellness facilities.
57.5% of participants would like facilities for private events & parties, while 65.6% would like to have a swimming pool. 17.2% of respondents want laundry facilities while 21.4% would like to have a concierge service, even at an additional cost.
“There is a constant but visible trend towards the hotelization of farms. New features are continually being added to farms to provide a more rewarding and improved stay experience. Additionally, farmhouses as well as bungalows and second homes are now being actively used for longer stays,” Kansal said.
Asked about their preference for designs, 32.5% of respondents suggested their taste for conventional rural style designs. Just under 28% said they like Scandinavian design features which mainly include shades of white, minimalist and clean styles.
Only 9% of respondents also indicated a taste for rustic/industrial type designs, demonstrating the willingness of Indian farmhouse investors/buyers to try new ideas.
In the real estate category, farms will continue to gain momentum in the times to come. The boundaries between farms, gated villas and retirement homes and second homes are blurring.