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 How to Get Started with Co-Ownership

How to Get Started with Co-Ownership

How to Get Started with Co-Ownership

Embarking on the journey of co-owning a farmhouse presents an exciting opportunity. It allows individuals to partake in the collective ownership of a picturesque property, fostering a deeper connection with nature and the chance to build meaningful relationships with fellow co-owners. At FarmAlly, we offer co-ownership of affordable farmhouses near Bangalore, ensuring a smooth and seamless experience for all involved parties.

How does co-ownership work?

It’s crucial to comprehend the co-ownership structure and the associated responsibilities before starting your journey as a co-owner of a farmhouse. Each farmhouse under our program will have 12 co-owners, with each individual having the opportunity to own a minimum of 1 share and a maximum of 4 shares in the property. With FarmAlly, the investment starts with 7 lakhs for an executive farmhouse, 11 lakhs for a premium and 14 lakhs for a luxury farmhouse for varying plot sizes. This structure allows for equitable distribution of ownership while accommodating varied degrees of effort and commitment from each co-owner.

Our Process

Express interest in a farmhouse and select the shares you wish to own to become a co-owner. The team at FarmAlly will finalize the agreement with accurate documentation. After allocating the co-ownership shares, the land gets registered under the ownership of the 12 co-owners as a Limited Liability Partnership (LLP), offering liability protection and enabling efficient management and decision-making for the farmhouse property for five years.

FarmAlly manages the completed land registration process, establishing and managing the farmhouse and its amenities for co-owners, including property maintenance, landscaping, and utility management. The co-owners can book and enjoy the farmhouse and the amenities hassle-free on a rotational basis through an app as it oversees the management of farmhouse amenities, fostering community gathering places, eco-friendly activities, and security measures to improve quality of life.

Co-owners actively participate in decision-making processes for farmhouse management, involving discussions about property improvements, usage policies, and community events for five years. After five years, FarmAlly will sell the farmhouse and distribute the profits to the co-owners accordingly.

Thus, FarmAlly works in tandem with the co-owners to create a vibrant community and enduring relationships for a comfortable and sustainable farmhouse lifestyle.

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