Amendment status not verified — confirm the current text below against the official source.
(1) Where, in the opinion of the Authority as a consequence of any development project or schemes having been executed by the Authority in any area the value of any land in that area bas Increased or will increase, the Authority shall be entitled to levy upon the owner of the land or any person having an interest therein. a bettennent charges In respect of the Increase in value of the land res~ltlng from the execution of the development proJea or scheme. (~) Such betterment charge shall be an amount not exceeding one-half of the amount by wh1ch the value of the land on the completion of the execution of the development project or schemes, estimated as If the land were clear of buildings, exceeds the value of the land Immediately before such execution estimated ln like manner: Provided that, in levying betterment charge on any land the Authority shall have regard to the extent and nature of benefit accruing to the land from the development project or scheme and such other factors as may be laid down by rules made in th.ls behalf. (3) No betterment contribution shall be payable by the Government. the Authority or other local authority in respect of any land which is the property of the Government, the Authority or other local authorily or by any public institution in respect of any land belonging to such Jnstitut1on. 34 (1) When It appears to the Authority that any particular development project or scheme is sulfldentJy advanced to enable the amount of the bettennent charge to be determ1ned. the Authority may, by an order made in this behalf. declare that for the purpose of determining the betterment charge the execution of the development project or scheme shall be deemed to have been completed and shall thereupon give notice in writing to the owner of the Land or any person having an lnterest therein that the Authority proposes to 3.$SCSS the amount of the betterment charges In respect of the land under the last preceding section. 4712 THE ASSA.\1 t1AZETTE, EXTRAORDINARY, OCTOBl-:.R 30, 20 17 Settlement of bd!cnilctrt charge by arbiL-.i.o.-1 (2) The Authority shall then assess the amount of betterment charge payable by the person concerned after giving such person a reasonable opportunity to be heard and such person shall, within one month from the date of receipt of the notice in writing of such assessment from the Authority, inform the Authority by a declaration in writing that he accepts the assessment or dissents from It; (3) When the assessment proposed by the Authority ls accepted by the person concerned within the period speclfied in subsection (2) such assessment shall be flnal. (4) If the person concerned dissents Crom the assessment or fails to give the Authority the Information required by sub-section (2) wtthin the period specified therein, the matter shall be determined by arbitrators In the m.inner provided In the next following section.