Co-operative townships; the new mantra for farmers

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Co-operative townships! That's the new mantra for farmers at Nanded near Pune reports CNBC-TV18.

 

Problems like high labour, fertiliser costs and rising pollution are now old hat. Farmers living near urban areas are facing a new one: saving their farms from being developed into an urban area. Around 150 farmers of Nanded village, near Pune, have hit upon a long-term solution to this problem.

 

They have submitted an urbanization plan to the state urban development ministry, seeking permission to urbanize their 700 acres of farmland on their own. The farmers will get a share of the overall profit that the township would make by leasing office space to IT centers and residential area.

 

Today the value in the market is Rs 5. In 5 years it will be Rs 25-30. We will be partners in this throughout. If we sell it for Rs 10 today then it's all gone. This way, as partners, we get a share in the profits when the value of land rises after construction" says Vikram Jadhavrao Farmer, Nanded Village

 

Helping them is Satish Magar - a farmer who is now the managing director of Magarpatta I-T city. 7 years ago, farmers at Magarpatta village did much the same thing - they are now builders and contractors, on their own land, a feat they are now trying to recreate at Nanded.

 

"We are looking at becoming a part of the development process,so we are creating entrepreneurs .once they get in to business forward integration will take place" feels Satish Magar, MD, Magarpatta Township Development Co.

 

The farmers of Nanded village are sure their plan will get the state government's nod, very soon. Once approved, Magarpatta Township Development and Construction Company will hold a 51% stake in it. The balance will be divided among the farmers who invest their land.