Bind, who has denounced the path of lawlessness once had 32 cases registered against him.
He was lodged in several jails all around UP. Heading the village till 1987, Bind was a contestant in the 1980 elections.
However, now he wants people to remember him post death and hence the statue.
"I have decided to erect a statue of myself outside my home, so that people remember me after my death," he said. "If people can erect statues of themselves, why not me?"
Bind is inspired by Maharshi Valmiki, who was also a dacoit -turned- saint.
"When the heart of Valmiki, once a dreaded dacoit can change, then why not that of Jagannath Bind?" he asked.
Bind is not worried of any interference from the local administration.
"I am erecting my statue at my home and no one should have any objection. I will approach the court, if I am not granted permission to erect my statue," said Bind.
The statue worth Rs 50,000, he feels would aid him to reform.