(1)The Municipality may levy such development charge as may be determined by bye-laws, from time to time(a)on any residential building with a height of more than fourteen meters, or any non-residential building, having regard to its location along a particular category of street, its use characteristics, and sanctioned built up area, and(b)for development or redevelopment of any existing-area, in accordance with any development plan or while approving any sub-division plan of that area.(2)Any such development charge shall be paid in advance by the developer before commencing any activity on the approved plan or sub-division.(3)In case of redevelopment of the area, the charges shall be payable by all the residents and beneficiaries of the development.(4)The Municipality shall keep a separate account of such development charge and shall not divert it for any other use.
