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certain conditions, been made by private treaty at roughly one-third the market value for the provision of cheap housing, and for workers' and staff quarters. See also the Housing Chapter.
Policy concerning the sale or grant of Crown land is governed not so much by the availability as by the scarcity of all types of land. In order to ensure that available Crown land is put to the best possible use, all sales or grants are subject to a covenant wherein the lessee undertakes to develop the lot up to a certain rateable value within a specified period, the amount of expenditure depending on the location and type of development allowed. In addition to the covenant, leases contain clauses controlling the use to which land may be put, in accordance with town planning. They also provide for the annual payment of Crown rent which is, however, relatively low compared with the annual economic value of the land. Until the lessee has fulfilled the building covenant, he is not permitted to sell or mortgage the property; but once he has fulfilled it, he is free of these particular restrictions, except where land has been sold by private treaty at a pref- erential rate. In cases of this type the lessee may not dispose of the property. If he ceases to use it for its authorized purpose, it reverts to the Crown.
Restrictions on development contained in old leases are sometimes found to be outmoded by modern trends, and standards for the modification of such lease conditions to allow more intensive development while preserving the amenities of the district have been laid down during the year. Much interest has been shown in these proposals by developers and their professional advisers, and it is anti- cipated that they will facilitate the rebuilding of much under- developed property.
The basic principle behind the disposal of Crown land is that the maximum use shall be made of it, either industrially or for the provision of the greatest possible amount of living space compatible with town planning. Where it is not