Valuations
4.14. These were made for the following purposes and, in addition, assistance in valuation matters was given to other Government departments:
(a) Resumptions
(b) Surrenders
(c) Regrants of Crown Leases
(d) Renewal of Crown Leases
(e) Sale and purchase of land and buildings
(f) Town Planning
(g) Removal of Restrictive Covenants
(h) Estate Duty purposes, the hereditaments valued during the year exceeded $75 million.
Compulsory Acquisition
4.15. The case for the Crown was presented before 5 Arbitration Boards convened to determine compensation payable under the Crown Lands Resumption Ordinance and preparatory work was done for Boards to be convened for other resumptions gazetted during the year. A Compensation Board was convened under the Public Reclamation and Works Ordinance, 1956, in respect of a claim arising from the To Kwa Wan Reclamation.
Demolished Buildings (Redevelopment of Sites) Ordinance, 1963
4.16. Incremental value was determined in respect of 86 properties.
Permits
4.17. 607 Crown Land Permits were cancelled during the year and although 350 new ones were issued, these mostly superseded an equivalent number of those cancelled. The number existing at the end of the year was reduced for the first time for many years to below 4,000. The revenue realized was about $7.2 million, a slight increase due to legislation being enacted in 1962 giving effect to an increase in statutory fees for certain areas.
Short-term Tenancies
4.18. The financial return from these amounted to over $2.8 million, an increase of about 2 million over the previous year's figure.
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