9
General Conclusion
2.8
The general conclusion reached by the working
Group is that the present system of land exchange probably
was originally a fair and acceptable system for acquiring
land required for urban development projects, as it gave suitable opportunities for the owners of land to participate in the profits of development. But
circumstances have changed; there is and will continue
to be insufficient land available to meet Letter A
and B commitments within a reasonable period; the need
for land for public development, particularly for
public housing will continue to require resumptions
and consequent issue of exchange entitlements, commitments
for which could not be met within a reasonable time as
defined, as long as the present exchange ratio is
maintained and the rate of compensation offered as an
alternative to an exchange remains at the present level. The Working Group accordingly set about to define the
principles which should guide an adjustment to the system,
and thence to define an approach to meet present
circumstances.
3.
MAIN PRINCIPLES WHICH MUST GUIDE THE CHOICE OF ANY NEW LAND ACQUISITION SYSTEM
3.1
General considerations are :
/3.1.1