Provision for case in which value of developed plots is less than amount payable by owners

(1) If from any cause the total amount which would be due to the Authority under the provisions of the Act from the owner of a plot to be included in the final scheme exceeds the value of such plot estimated on the assumption that the scheme has been completed, the Planning Officer shall at the request of the Authority direct the owner of such plot to make payment to the Authority of the amount of such excess.

(2) If such owner fails to make such payment within the prescribed period, the Planning Officer shall, if the Authority so requests, acquire the original plot of such defaulter and apportion the compensation among the owner and other persons interested in the plot on payment by the Authority of the value of such plot estimated at its market value at the date of the declaration of intention to make a scheme or the date of a notification under sub-section (5) of section 43 and without reference to improvements contemplated in the scheme; and thereupon the plot included in the final scheme shall vest absolutely in the Authority free from all encumbrances but subject to the provisions of the Act:

Provided that the payment made by the Authority on account of the value of the original plot shall not be included in the costs of the scheme.