:
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5 -
and communal amenities than ever such as highways, hospitals, schools, parks, Government offices,
• • • D
etc. According to the
recreational grounds,
rate set in the planned lay-out scheme, the land for
public use should occupy 3/5, and the remaining 2/5 is to be used for commercial or dwelling purposes. Following the approval on 20th April, 1978 of the
"Report of the Working Group on New Territories Urban Land Acquisitions" by the Governor, Sir Murray MacLehose, the rate of land exchange set out in the "Land Exchange Entitlement" is 5:2, e.g. on surrendering 5 sq. ft. agricultural land to the Government, the landowner can
obtain 1 sq. ft. building land and further 1 sq. ft.
which is to be compensated by cash in lieu; that is
to say, he can obtain 1 sq. ft. building land and a
compensation of $59.00, a figure fixed by the Government
and validated in the period between October, 1979 and March, 1980. There is no "Land Exchange Entitlement"
applicable to any 1 sq. ft. of agricultural land outside
the Urban land development areas. In these areas when the acquisition of land is enforced, the Government only pays a percentage of $59.00 per sq. ft., the top compen- sation fee in the urban development zones, which ranges from 20%, 30%, 50% up to 75% according to the location
of the land. As to the building land inside the planned
lay-out the exchange rate remains at 1:1, but a fixed
compensation rate of $125.00 per sq. ft. will apply in the case of landowners wanting cash payment instead of
land.
On the other hand, if the landowners holding
"Land Exchange Entitlements" apply for a piece of land for development purpose, they must pay to the Government
premiums as tabulated in the "Premia to be Applied to A/B Exchanges" applicable in the period from November 1979 to March 1980. The highest premium imposed on the
non-industrial land located at the centre of Sha Tin is
•
/P. 6