The green revolution has broughtbout a substantial change in rural area. With the expansion of irrigation facilities and agricultural modernisation, the rural production structure, land and labour markets are in the process of transition and change. In the land lease market different forms of land transactions are emerging and the land lease market is becoming more and more flexible. In post green revolution period, studies have been taken up to measure the impact of it on wage rates, duration of employment, labour hiring practices etc. The changing forms of land and labour markets have produced substantial impact on rural economy. The movement of very small and marginal farmers from production to labour processes and the entry of small and medium farmers in the land lease market have changed the structure of production and production relations. It is essential to analyse the dynamic process of change and its differential impact across the classes and sectors of the rural economy. With this background, the present research attempts to answer the research questions related to the emerging trends in land and labour markets in the irrigated area vis-a-vis the rainfed area.