Calculation of increment

For the purpose of the Act, the increments shall be deemed to be the amount by which at the date of the declaration of intention to make a scheme the market value of the plot included in the final scheme estimated on the assumption that the scheme has been completed would exceed at the same date the market value of the same plot estimated without reference to improvements contemplated in the scheme: Provided that in estimating such value, the value of buildings or other works erected or in the course of erection on such plot shall not be taken into consideration.