18
On a local basis, this is a logical
method of working towards compensation,
but for the purposes of the establishing
of an universally applicable system,
it was defective in that :
(i) rates in different areas would be
different; and
(ii) the system has too many contro-
versial aspects; i.e. the
valuations to be put on saleable
lands, the proportions of land
planned for each user which were
determined solely by Government,
and whether any value should be
attributed to such uses as roads
and open space.
4.1.2 Average development value method
This method is essentially the same as
the local development value method
described above but the calculation of
the compensation rate could be derived
from the areas, costs and values of all
the urban development areas in the New
Territories aggregated in a single unit.
The only advantage this method has over
/the local
Page 75Page 76