The Andhra Pradesh (Prevention of Speculation in Immovable Property) Act, 1954.
andhra-pradesh · 1954
The scanned source for this Act is imperfect — headings or section boundaries may be off. Verify against the official source.
- S. 1Updates references in the act to the Andhra Pradesh Legislative Assembly.
- S. 2Section 2 defines terms like 'new building' and'reconstruction' and authorizes government officers to maintain a register of such buildings.
- S. 3Section 3 allows the government to declare areas as 'notified areas' to prevent speculative property transfers and withdraw the act's application.
- S. 4Section 4 restricts transfers of property in notified areas to a price not exceeding the standard price plus permissible increases.
- S. 5Section 5 determines the standard price for specified properties based on market value and construction or reconstruction costs.
- S. 6Section 6 allows the government to increase the standard price of property by up to 25% following assessment revisions.
- S. 7Section 7 allows the government to purchase specified immovable properties at specified prices or market value.
- S. 8Section 8 allows the District Collector to take possession of property if the owner refuses to pay the determined amount, with the Subordinate Judge's Court determining the payable amount.
- S. 9Setting aside of Court sales etc
- S. 10Section 10 imposes a fine for transferring property in a notified area against the Act's provisions.
- S. 11Section 11 mandates that only the District Collector can file complaints for offenses under the Act.
- S. 12Section 12 prevents legal actions against the government for actions taken in good faith under the Act.
- S. 13Power to make rules - (1) The Government may by notification, make rules to carry out the purposes of this Act