Amendment status not verified — confirm the current text below against the official source.
( I) When by [he making of any improvemen[ schcmc, olher rhan a scwagc disposal schcmc any land in he area comprised in the schcmc which is not rcquired for thc execulion thereof will, in h e opinion or thc Board, be incrcascd in value, thc Board, in framing the schernc, may, in lieu of providing for Ihc acquisition of such land, declare [hat a bcuermenl fee shall be payablc by the owner of hc land or any person having an inkrest therein in respect of ~ h c incrcasc in vlaue of the land rcsulling from the cxccurion of the schemc. (2) Such betrcrmcni fee sliall bc an amounl equal to one-rhird of thc incrcasc in value of thc land rcsul~ing from the excculion of [he schctnc, and sllall be calcularcd upon rhe amount by which the vlaue of 111e land on rhe complclion of the execution or hc scheme estin~atcd as if thc land wcre clear of buildings cxcccds [he value OF thc land prior ro Ihc execulion of the schcmc eslimaled in like manner. h'cslicnl ol k ~ t c m r c n ~