Amendment status not verified — confirm the current text below against the official source.
Payment of betterment fee.-(l) When by the making of any improvement scheme, any land in the area compnsed m the scheme wh1ch 1s not requi1ed for the execution thereof w!ll, in the opimon of the Boa1d, be increa5ed m value the Board, m frammg the scheme, may declare that a betterment fee shall be payable by the owner of the land or any person having an in~rest therein in 1espcct of the mcrease in value of the land resulting from the execution of the scheme : Prov1ded that the Government may, subject to such restnctions and cond1t10ns as may be prescnbed and after consultmg the Board, exempt any person or class of persons from the liability to pay better- ment fee under the provlSlons of this Act, if they are satisfied that having regard to the econom1c conditions of such person or class of persons, their ability to pay such fee, and such other considerations as may be pre~cnbed, such person or class of persons should be so exempted. (2) Such increa~e in value shall be the amount by wh1ch the value of the land on the completion of the execution of the scheme estima- ted as 1f the land were clear of buildings exceeds the value of the land prior to the execution of the scheme estimated in like manner; and the betterment fee shall be one-third of such increase in value.