(1) Every property which has increas ed 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 build ing as are used for- charitable, religious and educational purposes or for places of non-professional entertainment and recreation.
(2) The betterment fee shall be an amount equal to twenty per cent in case of residential holdings so long the original owners use for their residances and equal to fifty per cent in case of non-residential areas and will be realised in five equal instalments.
Explanation.—The increase in value for the purpose of this Section shall be the increase in the market prices in between the date on which a notifi cation under sub-section (1) of Section 15 has been issued and the date on which the exeettion of the scheme has been substantially completed.