Section 3(3) in Azamabad Industrial Area (Termination and Regulation of Leases) Act, 1992
(3)The Lessees specified in sub-section (2) may, in lieu of renewal of lease, opt for free-hold rights in respect of the demised plots of land by paying a price equivalent to 75% of the market value as specified for the area in market value guidelines under section 47 (a) of the Indian Stamp Act, 1899(Central Act 2 of 1899).
