State · Andhra Pradesh

Section 3 of THE ANDHRA PRADESHNA (PREVENTION OF SPECULATION IN IMMOVABLE PROPERTY) ACT, 1954

Declaration of notified area by Government - (1) If the Government are satisfied that owing to any action taken or proposed to be taken by them or to any other cause, considerable transfers of immovable property which are of a speculative character are being, or are likely to be made in any area in the 1[State of Andhra Pradesh] and that it is necessary in the public interest to prevent such transfers, they may, by notification, declare such area to be a ‘notified area’ to which the provisions of this Act shall apply on and from such date as may be specified therein.

(2)The Government may, by notification, withdraw the operation of this Act from any such notified area, with effect from such date as may be specified in the notification, except as respects things done or omitted to be done before that date.

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2PreviousSection 2 Definitions - In this Act, unless there is anything repugnant in the subject or context 4NextSection 4 Restriction on transfer of immovable property - Notwithstanding anything to the contrary in any other law or in any contract, no immovable property situated in any notified area shall be transferred for a consideration exceeding in value the standard price of the property specified in section 5 together with such increase over that price as is permissible under section 6.