Economics of land is distinguished in nature because land has an important place for the individual and the community. The dispute arises only when the land is encroached illegally. The sentiments of individual with land give value to land. The emotional attachment with land becomes hurdle for the development. Companies do not care these sentiments. For them sentiments are good but for establishment of the industries land must be acquired by the companies. Value of land depends on its location, need and use. Dumka is a semi urban city of Jharkhand, India and here the value of land is directly correlated with the sentiments of people. Land is non-salable and many of the agitation has been taken place only for the possession of land. That is why the external investment is very low in Dumka. The paper tries to find out the answer of the question that how value is the product of specific social relations and examines how places are created, valued, commoditized, and co-opted in the development process. Timely resolution of land disputes is not only essential for socio-economic development but will also help to solve a number of law and order problems.