Section 10(1) in The Orissa Housing Board Rules, 1970
(1)Any person liable to pay betterment charges in respect of his/her land which has been subjected to such levy, may, at his/her option, pay the betterment charges in monthly instalments after entering into an agreement with the Board, subject to the following conditions, namely :(i)the entire amount shall be paid in such number of monthly instalments, which shall not be more than twenty-four as may be determined by the Board;(ii)the monthly instalments together with simple interest at six per cent per annum on the outstanding amount on the first of the month, for which the instalment is due, shall be paid within the fifth day of the month;(iii)in case of default, compound interest shall be charged at six per cent per annum on the amount that remains unpaid on the date of default; and(iv)in case of default for three successive months the agreement shall be annulled and the entire amount with interest due, be recovered in accordance with the law in force.
