(1) For the purposes of providing, maintaining, or continuing amenities in the Special Development Area, the Board may with the prior approval of the -State Government, levy such taxes or service fee as it may consider necessary in respect of any site or building on the transferee or occupier thereof:
Provided that the total incidence of such tax shall not exceed twenty-five per cent of the annual value of such site or building.
Explanation:For the purposes of this section, the expression 'annual value' shall have the same meaning as provided in Section 174 of the Uttar Pradesh Municipal Corporation Act, 1959;
(2) If the Board considers it necessary or expedient in the public interest. it may, by a general or special order, exempt wholly or partly any such transferee or the occupier or any class thereof from the taxes levied under sub-section (I).