8
Land and Housing
ALL land in Hong Kong is owned by the Crown. In the early days of the Colony, Crown leases were granted for 75, 99 or 999 years. Now, except in the New Territories, they are granted for 75 years, usually renewable for a further 75 years at a re-assessed Crown rent. Crown leases for New Territories land are now normally granted for a period of 99 years, less three-days, from July 1, 1898 and so terminate three days before the expiry of the period of the lease from China.
Land administration in Hong Kong and Kowloon is the responsi- bility of the Director of Public Works, who is also the Building Authority and Chairman of the Town Planning Board. The Director also deals with that part of the New Territories between Boundary Street and the Kowloon foot-hills, called New Kowloon. The District Commissioner is responsible for land administration throughout the rest of the New Territories. All Crown land grants and all private land transactions are recorded for Hong Kong and Kowloon in the Registrar General's Department, and for the New Territories (with the exception of certain inland lots) in the District Offices. The inland lots in the New Territories are mostly located in the built-up area of New Kowloon and deeds relating to them, with a few exceptions, are recorded in the Registrar General's Department. The principal laws on the development and use of land are contained in the Buildings Ordinance, the Town Planning Ordinance and the New Territories Ordinance.
Government's basic policy is to sell leases to the highest bidder at public auction. All land available to the general public for commercial and industrial purposes and for residential sites is sold in this way. The realised premium is payable by a percentage of the upset price on the fall of the hammer and the balance within a short period after the sale, except in the case of industrial lots where it can be paid by instalments. However, a concession was introduced during the year in respect of sites of high value in Central Areas