There were news in the last few days that Andhra Pradesh government is planning to cancel registrations in and around Vijaywada and Guntur since the land rates have gone up with speculations of state capital coming there. There is mad rise of land prices which may hurt if the capital is put up some where else and government is losing lot of money on registrations as land prices will increase after the capital is announced. But there are several technical issues before cancelling the registrations.
However the attorney General has warned the government that canceling registrations will not be possible as per Section A(1). So, government is thinking on the lines of bringing a new act like the Prevention of Speculations in Immovable properties Act – 1954. In 1954, Registrations are banned for some time in Guntur and Kurnool using this act. Since bringing an act is not possible immediately, government is planning to bring this rule via an ordinance.
