Every weekend, a chunk of Bangalore’s IT workforce drives out of the city looking for some version of quiet. Host Abhishek Vyas opens this episode of The Founder’s Dream asking why so many of them are now buying agricultural land instead of just booking a resort — and the answer from his guest, Amogh Keegadi, founder of Mox Estates, lays out the full Mox Estates business model: a way to own farmland near Bangalore without managing it yourself.
Keegadi started Mox Estates in 2020, bought his first 12 acres in Kanakapura in 2021, and now manages over 300 acres across projects south, west and east of Bangalore. This piece unpacks how the model actually works, what returns are realistic, and what buyers need to check before signing anything.
What Is the Mox Estates Business Model?
Keegadi describes it simply as a managed farmland company built on what he calls the PDSM approach — Procure, Develop, Sell, Manage. Mox Estates buys agricultural land within roughly 60-70 km of Bangalore, develops it with amenities and infrastructure, sells plots to customers, and then continues managing the land on the buyer’s behalf.
This is the part that differentiates it from a plain land sale. As Keegadi put it:
“Many people don’t know that investing agriculture land is a good investment and they can expect a good ROI on that.”
The idea is that a buyer in Bangalore can own a working farm — complete with irrigation, agronomists and security — without ever having to hire labour or check on water supply personally. If you’re comparing this to other farm-stay income models, our breakdown of the MyFarmland.co business model and whether farm stays can earn ₹2 lakh covers a similar idea from a different operator.
Why Bangalore’s IT Professionals Are Buying Farmland Near Bangalore
Keegadi’s explanation for the trend is straightforward: city life is missing something that farmland near Bangalore supplies on tap.
“Whatever they’re missing out in Bangalore, they’re finding those areas in our project, and they’re coming there, spending good time in the project.”
Instead of a one-time resort booking every weekend, buyers get a recurring destination they own. Mox Estates has run events like a dedicated gathering for doctors at its Kunigal project, which Keegadi says drew a strong response from families looking to spend a day away from the city.
Can Agricultural Land Really Deliver 18-20% Returns?
This is the number that gets attention, and Keegadi is careful about how he frames it. The 18-20% figure isn’t a fixed annual yield — it’s a combination of three things: land appreciation, income from crops (coconut, mango, chikoo, guava depending on the plot), and the additional income from Nature BNB once a house is built on the land.
He’s also direct about rejecting the pitch when other companies oversell it:
“If somebody is putting 18% 20% in the brochures and they’re selling, I don’t recommend any customers to go and buy there… it is not a fixed deposit.”
His point is that buyers shouldn’t treat managed farmland like a guaranteed-return instrument. The appreciation and yield exist, but the people actually buying from Mox Estates, he says, are buying for the land and the lifestyle first — the returns are a secondary benefit, not the sole reason to sign.
Nature BNB: Turning a Farm Plot Into Monthly Income
One of the more concrete ideas discussed is Nature BNB — Mox Estates’ version of listing a farmhouse for rental income, built around Karnataka’s agritourism rules. A buyer who purchases land can use up to 10% of the plot to construct a small house; on a 10,000 sq ft plot, that’s around 1,000 sq ft available for construction.
Once built, the house can be listed with Mox Estates, which pays the owner a fixed monthly amount depending on whether it’s a 1BHK, 2BHK or 3BHK unit. Keegadi frames it as stacking two income streams on one piece of land:
- Yield from whatever crop is growing on the plot
- Fixed monthly income from the Nature BNB listing
He notes the concept is currently live at the Moksha Terra Hills project, with customers already building houses and the Nature BNB rollout expected within about six months of the recording. For a side-by-side look at how another company structures farm-stay payouts, the same farm stay business model breakdown is a useful comparison point.
The Legal Checklist Before You Buy Agricultural Land
This is where Keegadi slows the conversation down. Unlike a builder-approved apartment, where a bank’s due diligence effectively vets the title before sanctioning a loan, agricultural land sits under revenue records with no equivalent regulatory body like RERA.
His list of non-negotiables before any purchase:
- A clear family tree tracing ownership
- The RTC (Record of Rights, Tenancy and Crops)
- An encumbrance certificate
- Documents checked as far back as the 1940s-1950s where available
He recommends buyers use more than one lawyer for this process, and says Mox Estates hands over its complete document set to customers so they can read exactly how the land came to the company. Beyond title, he lists water resources and land quality as the other two things Mox Estates promises on every plot — because, as he puts it, you can’t grow the same crop everywhere, and a plot without water access isn’t worth buying regardless of price.
The Hard Part: Managing Agricultural Land, Not Selling It
Asked whether real estate is easy or difficult as a business, Keegadi’s answer cuts against the usual pitch. Selling land, he says, isn’t the hard part at all.
“Managing them agricultural land is something very difficult because, you know, today water is more important, labor management is something very important agricultural land. Without labor you cannot do anything.”
This is the core argument for paying a management fee instead of buying land independently. Mox Estates employs a dedicated agronomist, farm development team, farm managers, security and labour on every project, and buyers can track irrigation and farm activity through an app rather than visiting in person. Keegadi also explained the maintenance fee isn’t a profit centre — it funds salaries for agronomists, security, labour, water management and fertiliser, the same way a corporate tenant pays maintenance on top of rent for lift and parking upkeep.
He’s also candid that not every plantation plot customers buy is actively farmed. For buyers who already have other income, agricultural yield is often incidental rather than essential — which is exactly why Mox Estates buys existing 20-year-old plantations instead of barren land, so the “wow factor” and usability are there from day one rather than a decade away.
Key Takeaways for Prospective Buyers
- Farmland should be treated as a separate asset class, not compared directly to a flat or commercial property
- Returns combine appreciation, crop yield and rental income like Nature BNB — not a single fixed number
- Title verification on agricultural land requires deeper diligence than a builder-approved apartment
- Management fees cover real operational costs — labour, irrigation, security — not just markup
- Location changes the pitch: Chikmagalur for greenery and climate, South Bangalore and Kanakapura for appreciation
Watch the full conversation with host Abhishek Vyas on The Founder’s Dream YouTube channel and subscribe for new founder interviews every week.
Frequently asked questions
What is the Mox Estates business model?
Mox Estates follows a PDSM approach where the company procures agricultural land near Bangalore, develops it with amenities like clubhouses and irrigation, sells plots to customers, and then manages the land on their behalf so buyers do not have to handle farming themselves.
Why are IT professionals in Bangalore buying farmland?
Amogh Keegadi says city professionals are looking for the nature and calm they miss in Bangalore’s traffic and concrete, and managed farmland projects give them a weekend destination along with land ownership instead of a one-off resort visit.
Can agricultural land really give 18-20% returns?
Keegadi explains the 18-20% figure comes from three sources combined: land appreciation, yield income from crops like coconut or mango, and additional income from renting out a small house on the land through the Nature BNB concept.
What is Nature BNB?
Nature BNB is a concept where a buyer constructs a small house on part of their agricultural plot and lists it with Mox Estates, earning fixed monthly income depending on the BHK size, similar to an Airbnb model but for farmland.
What legal checks are needed before buying agricultural land?
Keegadi stresses checking the family tree, RTC, and encumbrance certificate going back decades, since agricultural land falls under revenue records rather than RERA-approved builder projects and requires thorough title due diligence.
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