Amendment status not verified — confirm the current text below against the official source.
(1) The development tax shall be an amount equal to one-half of the difference between the market value of the land or building on the date specified in the notification issued under sub-section (2) and the market value on such land or building on or immediately before the date on which the scheme after sanction is finally notified under Chapter XIX: Provided that for the purpose of calculation under this section the land shall be treated as free of all buildings. (2) The Government shall, by notification in the Official Gazette, declare the date on which scheme shall be deemed to have been completed.