A
Note 1
Exchange Ratio
The original exchange ratio was based on the
first areas in which exchanges were negotiated,
before Government undertook the first major
development and reclamation scheme in the New
Territories comprised in the Tsuen Wan deve-
lopment. As nearly all of the area to be
developed was private land, it was then estimated
that about three square feet out of every five
would be required for roads, open spaces and
Government or other institutional buildings, and
two square feet would therefore be available for
private building. The development of reclama-
tions and hillsides have added a large element
of Crown land in many to the total development
areas, but at the same time the proportion of
land required for public development has been
greatly increased by the institution of the
public housing programme, and by increased areas
of land predicated by current planning
standards to amenities and social services.
The overall result in a major development
area is that although the planning will
eventually provide a sufficient supply of
land to meet the needs of the private sector,
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