Randeep Ramesh in New Delhi

Plots of green belt land in England are being sold to Indians for thousands of pounds as one of the best ways to make money. They are being marketed on the basis that vast tracts of the English countryside would soon be covered in homes - and potentially make big profits for foreign investors.

Companies have taken out full-page advertisements in Indian newspapers and also blitzed prospective customers with text messages saying: "Plot available in UK London (sic)". Investing in England's green belt, according to marketing material seen by the Guardian, is "one of the best ways to create real personal wealth".

Landbanking firms typically buy fields for a few thousand pounds, divide them up, and then sell plots for £10,000 each on the basis that, with planning permission, they stand to reap substantial profits. However, local councils told the Guardian that "allowing homes to be built on the land would be contrary to all current, emerging and foreseeable planning policies".

In India, landbanking firms are largely unregulated, although some have been closed down. In London, the Financial Services Authority is concerned some schemes should be controlled because they are "collective investments".

(Via Guardian Unlimited. To read the full story, click here)


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