Occupants of plots in the city leased out by the state government have much to rejoice over. They can now opt to become title-holders of their respective homes. In a bid to rake in revenue, the state government has offered ownership of the land to the occupants of 666 leased plots in the city but the offer comes at a price.

According to sources, the lease period of these plots has expired and the plots will be available for restricted ownerships against a transfer fee, which is a percentage of the ready reckoner rate. The offer will open from February 1, 2013 to December 11, 2014. The plan is to similarly offer ownership of plots for which lease period will be expiring in the next five or 10 years. Also, those opting to take advantage of the offer will need to know that it comes with some restrictions, but has two major advantages.