@ sajhamitra - sorry i don't have any experience in land buying.....although i do have a lot of interest. i get all loads of ads in my mails for acres and acres of land for like 20-30k. seem like a great deal to me.....but i haven't really drove in to it fully. but from the small research I've done in the past:
- you have to maintain the land
- if people wonder into you land and get hurt.....they can sue u - big turn off!!!
- you can stike up a deal with farmer to have them harvest and maintain the land....kinda like land loan - big plus

hope this helps