Section 3.

Payment of compensation - (1) Consequent upon the annulment of transactions and instruments under Section 2, the transferee shall be entitled to be paid a reasonable compensation by the Government of Andhra Pradesh.

1. (2) The amount of consideration recited in any instrument enumerated in Schedule 1 with interest calculated at the rate of 12% per annum shall be deemed to be the reasonable compensation within the meaning of sub- section (1).