Section 106. Power to levy development charge

-(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