Levy of betterment fee.

(1) Every property which has increased in value due to its inclusion within an area under a plan or a scheme or due to the execution of such schemes shall be charged with a betterment fee; Provided that no such fee shall be levied on such public land or building ads are used for charitable, religious and educational purposes or for places of non-professional entertainment and recreation. (2) Betterment fee shall be an amount equal to twenty percent in case of residential holdings so long the original owners use for their residences and equal to fifty percent in case of non-residential areas and will be realized in five equal installments. Explanation.- The increase in value for this Section shall be the increase in the market prices between the date on which a notification under sub-section (1) of section 15 has been issued and the date on which the execution of the scheme has been substantially completed.