spaces and space between blocks, but merely the actual area built upon which in a whole estate is less than 50 per cent of the total site area. Moreover no amount was included for the estimated cost of engineering works such as roads, drains and water supply which are normally required before the develop- ment of any site chosen for a resettlement estate can be completed. The following table gives particulars of the actual capital cost of the whole of the Tai Hang Tung Estate of 6,916 habitable rooms which was completed at the end of April, 1956, and the average cost per room of the various items as compared with the 1954 estimate:-
(i) Buildings
(ii) Site formation and piling..
(iii) Engineering works.....
Tai Hang Tung (whole estate)
Average cost per room
Tai Hang Tung| 1954 Estimate
$10,561,783
$1,527
1,819,754
263
}
$1,806
923,852
134
not included
Intermediate Totals
$13,305,389
$1,924
$1,806
(iv) Add 2% for P.W.D. supervision
(v) Value of land (taken at $10 a sq. ft.)...
266,108
6,970,200
38
36
1,008
533
Grand Totals ..........
$20,541,697
$2,970
$2,375
120. Actual receipts for rents at Tai Hang Tung are also higher than was estimated in 1954 because of the subsequent decision to allow ground floor rooms to be used as shops and workshops and to charge a higher rental for them-$50 a month for a ground floor shop of 120 sq. feet and $100 a month for one of 240 sq. feet., the more usual size. Receipts for the months of February and March 1957 indicated that the total amount for one year would be about $1,325,400. $962,295 of this amount will be required to recover the total capital cost ($20,541,697) in forty years with interest at 31% compound, leaving a balance of $363,105, which it appeared likely would be adequate, for annually recurrent costs such as administrative expenses, electricity and water consumption, maintenance of buildings and Crown rent.
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