The settlement was reached at talks held by Chief Minister Oommen Chandy with CPI(M) leaders here last night.
CPI-M leaders claimed that the campaign was a big success as it had brought the Government around to agree to the central demand of the struggle which saw hundreds of party cadres and sympathisers identifying the surplus land holdings in the first phase and then pitching huts in them later.
Besides Chandy, Revenue Minister Adoor Prakash also took part in talks held with CPI(M) leaders E P Jayarajan, M V Govindian, A Vijayaraghavan and K Radhakrishan.
The Government reiterated its commitment to provide at least three cents of land for all those landless in the holdings identified as 'excess land' under the Land Reforms Act, which set a ceiling of 15 acres as the maximum extent of holding to be kept in possession by a family.
As the first phase of the assignment process, land would be distributed to at least one lakh families by Independence Day this year.
Party cadres and activists of feeder outfits had gathered in strength in all the 14 districts across the state as part of the stir launched on January 1.