EXAMPLES OF COMPENSATION PAID
The following are two typical examples of the more than 80 owners who have used their statutory compensation and the various ex- gratia allowances to purchase new flats in a modern landscaped private housing complex in Tsuen Wan with a full range of amenities ranging from schools to a swimming pool complex:
(1) The owner-occupier of a 296 sq.ft. flat at Sai Lau Kok was
paid a total of $188,413 and bought a 536 sq.ft. flat at the Allway Gardens housing complex at Tsuen Wan for $207,480. The compensation was made up as follows:
Open market value at the date of reversion: Interest at current rates on the open market
value compensation sum, calculated from the date of reversion to the date of written acceptance of the Government offer:
Disturbance allowance:
Capitalised interest allowance:
Setting-up allowance:
Rental allowance:
$129,500
$2,395
$4,660
$30,536
$10,000
$11,322
$188,413
(2) The owner of a 296 sq.ft. flat in Sai Lau Kok received
$190,000 in compensation and purchased a 492 sq.ft. flat in a prime location on the 18th floor of Allway Gardens for $209,300. The compensation was made up as follows:
Open market value at the date of reversion:
Interest:
Disturbance allowance:
Capitalised interest allowance:
Setting-up allowance:
Rental allowance:
$130,000
$2,405
$5,536
$30,654
$10,000
$11,419
$190,014