"The state cabinet today approved the plan to allow transfer of lease in the Salt Lake city against a fee of Rs 5 lakh per cottah," state secretariat souces said here today.
Even as there was no official briefing of the cabinet meeting, the sources said that the decision had been pending for a long time. "It will help the residents of the township and prevent illegal transaction", they said.
However, the leasehold land would not turn into freehold land, as the state government was only allowing its transfer against a fee to stop underhand deals and enhance earning of its revenue, the sources said.
The sources also said that if the said transfer was within the blood relations, it would not require any fees.
Fees at the rate of Rs 5 lakh per cottah is required for transfer of lease only to those other than blood relations, the sources added.
Residential plots in Salt Lake were leased for a tenure of 999 years in the early 70s to allow middle class people to settle in the township on the condition that leaseholders could not transfer their plots.
