LAND, PUBLIC WORKS AND UTILITIES
ordinances that provide for payment of compensation, based on the value of the property, and for business loss, where appropriate, at the date of acquisition. If agreement cannot be reached on the amount payable, either party can refer the claim to the Lands Tribunal for adjudication. Apart from statutory compensation, a system of ex-gratia payments also applies. Additionally, an ex-gratia Home Purchase Allowance is normally paid upon resumption of domestic units within the urban area. About 1 012 000 square metres of private land were acquired in the New Territories during 1995 to carry out various public works projects. The total land acquisition costs amounted to about $3,106.85 million. The major projects included work at Tung Chung on North Lantau and around Yuen Long and North Districts.
In the urban areas of Hong Kong Island and Kowloon, about $116.5 million was paid in compensation for land and buildings acquired during the year for public works, either under compulsory powers or by agreement. These projects included the open space developments in Sai Ying Pun, Wan Chai, Central, Yau Ma Tei and Tai Hom, and road schemes such as the Smithfield Extension and Lung Cheung Road- Ching Cheung Road Improvement.
The Lands Administration Office was also very much involved in the resumption of land for implementation of urban renewal schemes carried out by the Land Development Corporation and the Hong Kong Housing Society. Private streets continued to be resumed to facilitate their repair and maintenance by the government.
Land Disposal
All land in Hong Kong is held by the government, which sells or grants leasehold interests. Such grants and leases are made in accordance with the terms set out in Annex III to the Sino-British Joint Declaration on the Question of Hong Kong. The new land to be granted each year is not to exceed 50 hectares or such other area as may be agreed by the Land Commission, excluding land granted to the Hong Kong Housing Authority for public rental housing.
The land disposal limit for 1995-96 is 204.93 hectares. This includes land for airport railway property developments at Kowloon and Tsing Yi stations, and the Home Ownership Scheme and Sandwich Class Housing Scheme. Premium income obtained from land transactions is shared equally, after deduction of the average cost of land production, between the Hong Kong Government and the future Hong Kong Special Administrative Region Government.
Land grants and leases are normally made for terms expiring not later than June 30, 2047. They are made at premium and a nominal rental until June 30, 1997, after which an annual rent equivalent to three per cent of the property's rateable value will apply.
A land sales programme is issued at the beginning of each financial year and updated regularly, showing the details of public auctions and tenders normally held each month. Although most government land available for private sector development is sold by public auction or tender, land is also made available at nominal premium to the Hong Kong Housing Authority for its public rental estates and Home Ownership Scheme, and to non-profit-making charitable, medical and educational institutions which operate schools, hospitals, and social welfare and other community services.
211