(1) When it appears to the Metropolitan Authority that any particular development project or scheme is sufficiently advanced to enable the amount of the betterment charge to be determined, the Metropolitan Authority may, by an order made in this behalf, declare that for the purpose of determining the betterment charge the execution of the development project or scheme shall be deemed to have been completed and shall thereupon give notice in writing to the owner of the land or any person having an interest therein that the Metropolitan Authority proposes to assess to amount of the betterment charge in respect of the land under the last preceding section.
(2) The Metropolitan Authority shall then assess the amount of betterment charge payable by the person concerned after giving such person a reasonable opportunity to be heard and such person shall, within one month from the date of receipt the Metropolitan Authority, inform the Metropolitan Authority by a declaration in writing that he accepts the assessment dissents from it.
(3) When the assessment proposed by the Metropolitan Authority is accepted by the person concerned within the period specified in sub-section (2) such assessment shall be final.
(4) If the person concerned dissents from the assessment or fails to give the Metropolitan Authority the information required by sub-section (2) within the period specified therein, the matter shall be determined by arbitrators in the manner provided in the next following section.