Level control

I have two tanks . Tank1 gets filled from under ground water pump.
Tank 2 filled from tank 1. Both tank level should not go above a limit. Also below a level. If a pump is made on and water not pumping (this has to be checked by a sensor) then switch on another pump
Kindly suggest sensors for the project which will long last . Level detector and. Flow detection

Simple float switch like this for the level perhaps?

Wire it from an Arduino pin to ground, enable the pullup, pin goes low when switch is under water.

I agree with 12stepper, a float is the best if you can use it. Using probes is interesting but you will have all kinds of problems with electrolysis of the probes as well as contamination, mineral deposits etc. To use a probe you will either to float it or use a pseudo AC signal.This response is to help you get started in solving your problem, not solve it for you.
Good Luck & Have Fun!
Gil

biswajitjei02:
Level detector

Float switch, as mentioned above. Many such options, including ones that can measure through a tank (need to know more details about the tank to suggest any)

Flow detection

Flow switch.

Do you need a sensor underground too, to check that the underground reservoir is "full", ie that there's actually water available to pump to tank 1? Or for the purposes of this exercise can that supply be taken as good?

My choice:
tether float sw
Flow detection:
Size of pipes? Volume of flow (liters or gallons / minute)?