Amendment status not verified — confirm the current text below against the official source.
(1) The net amount payable under the provisions of this Act by the owner of a plot included in a scheme may at the option of the contributor be paid at a time or in annual instalments not exceeding ten. If the owner elects to pay the amount by instalments, interest at six per cent. per annum shall be charged on the net amount payable. If the owner of a plot fails to elect the option on or before the date specified in a notice issued to him in that behalf by the Development Authority, he shall be deemed to have elected the option of paying contribution by instalments and the interest in the contribution shall be calculated from the date specified in the notice, being the date before which he was required to make an election as aforesaid: Provided that, where an owner elects to pay the amount at a time but fails to do so interest at six per cent. per annum shall be payable by him to the said Authority, from the date specified in the notice to the date of payment. (2) Where two or more plots included in a scheme belong to the same owner, the net amount payable by such owner under the provisions of this Act shall be distributed over his several reconstituted plots in proportion to the increment which is estimated to accrue in respect of each constituted plot unless the owner and the said Authority agree to a different method of distribution. 162 The West Bengal Town and Country (Planning and Development) Act, 1979. XIII of 1979.] (Chapter V111.—Development Schemes.— Sections 98-101.)