What are the core issues related with Land acquisition and reform in India?

Land acquisition of a farming land is done to put up industries and are sold to the private companies in the name of development.The land which is barren or has not been tilled for more than eight years or so can be acquired and compensation is given to the owner of the land.The land being given in the name of development,making houses etc is fertile and has rich soil,but greed and nexuses of politicians and the builders overcome all this.The land acquired for 800 per square foot is sold for hundred times more and the finished structure fetches more, in lakhs to the developers by selling in the open market.Poor farmers are given peanuts in comparison to the profit they make.Plus the farmers become unskilled laborers and loose their land lordship as well.