Panchayat land public sale fetches double the worth in Faridkot village
Faridkot, Could 22
Low returns, rising enter prices and agricultural disaster however, one acre in a Faridkot village fetched Rs 2.82 lakh as annual lease cash. To place this into perspective contemplate this: the prevailing fee for one acre on this space is between Rs 50,000 and Rs 55,000 every year.
Rs 6.11 lakh lease cash for five.5 acre this yr
Rs 1.82 lakh income generated final yr
The conflict of egos of some farmers at Panjgrain Kalan village throughout the public sale of panchayat land fetched the panchayat lease cash of Rs 6.11 lakh for five.5 acre.
This implies one acre fetched Rs 1.11 lakh income whereas, final yr, the identical chuck of land generated Rs 33,000 as lease cash. Farmers paid 235 per cent extra this yr, for political rivalry amongst bidders and conflict of ego have been at play.
To outsmart his rival, farmer Ranjit Singh bid a document Rs 71,000 as annual lease cash for simply 1,210 sq yard (0.25 acre) of agricultural land. The prevailing fee for 4,840 sq yard (one acre) is about Rs 50,000 every year.
In one other case, farmer Satnam Singh introduced a document bid of Rs 2.10 lakh every year as lease cash for five,445 sq yard (9 kanal) of agricultural land when the auctioneer’s hammer was about to go down in favour of his political rival.
One other farmer bought the lease of 5,445 sq yard for Rs 1.05 lakh.
“Final yr, 5 acre, six kanal and 17 marla of panchayat land had fetched the division Rs 1.82 lakh income as lease cash. This time, nonetheless, the conflict of egos fetched Rs 6,11,900 for a similar piece of land,” mentioned Iqbal Singh, panchayat officer.