Kishan Kumar was a happy man a year ago, having pocketed more than Rs 4 crore from selling nearly 20 acres of fertile land to Reliance Industries Ltd for its 12,355-acre Special Economic Zone (SEZ) in Jhajjar and Gurgaon districts of Haryana.
Today, he is one of the many landowners in the area who look back at the transaction in regret.
“I would have been better off had I not sold my land. Frankly, when my neighbours started selling land to Reliance at Rs 22 lakh per acre, I was lured into it and sold 20 of my 32 acres,” said Kumar, a farmer from Dadri-Toye village in Jhajjar district. He used to earn an annual income of nearly Rs 10 lakh from his land.
Kumar’s lament is a small example of a dilemma farmers across India face as companies approach them for land for industrial projects. (source)
Whoever wrote this article sucks at Maths. How can the writer ever try to prove her point by saying KK was earning 10 lakh from his land?
If 32 acre was helping him get 10 lakh per year, it meant that the yearly revenue per acre of his land was 10/32 lakh which in turn meant the 20 acres that he sold off were generating 20*10/32=6.25 lakh per year. Now, even at the safest saving interest rate, which is around 5%, even if he does not do any work, he will get 0.05*4,00,00,000 which is 20 lakhs per year (more than three times he had been making).
If Kishan Kumar is still regretting, he is just being greedy. Because I am sure, his maths is good. Or else he would never have sold his land. Stupid writers.