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 Telangana.

(2) The amount of consideration recited in any instrument enumerated in Schedule I 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).