(a)the transfer for consideration, in money or in kind or in both, by a person of an interest in specific immovable property to another person, and described in the document evidencing the transaction as kanam or kanapattam the incidents of which transfer include-(i)a right in the transferee to hold the said property liable for the consideration paid by him or due to him;(ii)the liability of the transferor to pay to the transferee interest on such consideration unless otherwise agreed to by the parties; and(iii)payment of michavaram or customary dues, or renewal on the expiry of any specified period; or