Nagpur: Unlike most families that end up splurging the crores received as compensation against land acquisition for govt projects on an extravagant lifestyle, a 70-year-old farmer from Gumgaon near Nagpur city chose financial stability by reinvesting the money in agricultural land and real estate.The farmer, Dhanraj Ashtankar, owned 4 acres and 35 R land in Godhani village that was acquired by the Nagpur Metropolitan Region Development Authority (NMRDA) for the mega Business District Project of the 13,000-crore New Nagpur project. He received 12.38 crore as compensation, which he used to buy nearly 40 acres of agricultural land in Samudrapur taluka of Wardha district and a 5,700 sq ft CIDCO commercial plot in MIDC Butibori.“I have a son and two grandchildren. We are farmers and we should continue that legacy. We cannot just spend the compensation received for our land on leading a luxurious life. I urge other farmers to make wise investments instead of wasting money,” Ashtankar told TOI.The New Nagpur project is being implemented under the supervision of NMRDA commissioner Sanjay Meena. So far, the authority has acquired around 351 acres of land and disbursed nearly 810 crore in compensation out of 4,800 crore earmarked for acquisition, making it one of the most generous land acquisition packages in the region.Officials associated with the project appreciated Ashtankar’s decision. Jt NMRDA commissioner Sachin Dhole said Ashtankar has set an example for other landowners whose properties are being acquired for infrastructure and development projects. “The compensation we are offering is the highest among projects of comparable magnitude. This decision sends a positive message that such payouts should be treated as an opportunity to build long-term assets rather than spending on luxuries,” Dhole said.He added that NMRDA has streamlined the compensation process and is disbursing payments within four days of land acquisition, encouraging more farmers to come forward voluntarily.Under the New Nagpur project, NMRDA is paying around 1.83 crore per acre for non-irrigated land and 2.70 crore per acre for irrigated land. In addition, landowners receive a 1,500 sq ft commercial plot for every hectare acquired in the proposed New Business District, with the plot currently estimated to be worth around 1 crore.As more landowners receive compensation under the project, Ashtankar’s investment-first approach is emerging as a model of financial prudence, illustrating how thoughtful planning can preserve family wealth for generations instead of allowing it to disappear in a few years.
