AHMEDABAD: Amid slowdown, it’s raining money in this tiny hamlet, about 17km from auto-town Sanand. A village with a population of 6,000, Khoraj will be richer by Rs 1,200 crore this week.

The Gujarat Industrial Development Corporation (GIDC) has acquired 1,355 hectares of land from about 450 families in this village – out of the total 1,500 hectares it bought to expand its industrial estate near Sanand. GIDC has paid market price of around Rs 1,100 a sq m.

No wonder, lives of farmers like Kashiram Devipujak (60), father of four, in Khoraj village near Sanand are set for a complete makeover. Kashiram, who lives in a shanty and sells vegetables in neighboring villages, is planning to build a bungalow and buy a SUV.

Hundreds of families in Khoraj are expecting a windfall in lieu of their lands acquired for the expansion. Ghanshyam Chavda, the officer on special duty (OSD) of GIDC, said Rs 1,200 crore will be distributed to farmers in Khoraj, which has emerged the single largest beneficiary.

“Cheques worth Rs 200 crore were distributed about a fortnight ago while the rest will be given away in phases starting this week,” Chavda said.

While the farmers know well that the windfall earned needs to be invested for future financial security, they are also looking at splurging some of the money they received. “I will get Rs 3.50 crore. Since both my daughters are married, I wish to build a big home for my two sons and buy them SUVs as well,” says Kashiram.

School teacher Ramsinh Jadav (55), whose seven hectares of land in Khoraj has been acquired, will receive Rs 8 crore. “My son has a small car. I will buy him the latest model of a luxury sedan. Between my brothers, my family will get Rs 15 crore and we plan to buy land in other villages,” said Jadav.

Village sarpanch Vilasben Jadav says most farmers have willingly sold land because of the good returns.