THE NEED TO HAVE LAND AS AN ALTERNATIVE ASSET

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THE NEED TO HAVE LAND AS AN ALTERNATIVE ASSET

 

- Radhakrishnan `Chanakya' Pillai

 

 

Owning property has become a key investment tool for many people. In villages

and rural areas, land translates into the very existence of a person. Indeed,

property is eternally named in that age-old adage on prime requirement for

survival: Roti, Kapda aur Makan.But here, the onus is on food, clothing and,

rather than property, on shelter. Chanakya had stressed this centuries ago in

the Arthashastra: " Of the excellence of land, affording shelter is best "

(7.11.22).He had even listed many ideas on how to select a land or property

based on its qualities: Conducive to agriculture, having a perennial source of

water, rich in minerals, etc. However, as in the verse above, he liked that land

which gives us shelter during tough times. Now how do people like us staying in

cities apply this?1) PURCHASE LAND IN SMALLER PLACESHaving a property in Mumbai

is a dream. It's one of the costliest cities in the world. If you are among the

lucky ones who already have a house in Mumbai or another similarly big city, do

not stop there. Purchase a small property in a smaller place as an additional

shelter and investment. Why? Simple: If you can build one home in a metro city,

it shows you have the capability for creating more, and you should do exactly

that as an alternative to your residence.2) BUILD AND USE ITNow do not just

purchase a piece of land and let it lie waste. Build a house on it. Use it from

time to time. There are many whom I know who own houses in their villages and

small towns but never use it. Someone else does. It's important you stay there

at least twice a year. Thus, you will get used to a different place. God forbid,

in case you have to leave your current city, it will be an easy migration for

you.3) IT'S A SECURITYWe never know what the future has in store for us.

However, we can at least have a back-up plan for shelter and survival. If a

natural calamity hits our city, at least we can fall back on a reverse migration

of sorts. In spite of problems that may crop up, we can say: " At least I have a

house for shelter. Let me start again. " This would especially help in times of

economic crises, like the current one.Chanakya's strategy was always to

" ...predict the unpredicted, and prepare an alternative. " Your additional land

or property can be this alternative.