Section 74(1) in The Orissa Town Planning and Improvement Trust Act, 1956
(1)Any person liable to pay a betterment charge in respect of any land may at his option, instead of making a payment thereof to the Planning authority execute an agreement with the said authority to leave the said payment outstanding as a charge on his interest in the land subject to the payment of interest at the rate of five per centum per annum, the first annual payment of such interest to be made after one year from the date referred in Section 73.
