Friday, February 9, 1973
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The applicant can apply for the new grant lot to be in either agricultural or building status.
A premium will be payable if the value of the new lot
to be granted exceeds the value of the land to be
surrendered.
The new grant lot will be subject to development and
such other conditions as are deemed appropriate for the
locality.
The applicant must give vacant possession free from incumbrances of the land to be surrendered.
In his address, Mr. Bray stressed that the Government was anxious
to build and make way for building of towns as fast as was possible.
Development
We do not want to frustrate development where it can take place
in a socially acceptable manner, but we will not allow individual land
owners to put up buildings which will be intolerable to those who will
live in and around them," he said.
While he did not believe that the new arrangements for land
exchanges would produce much development, the Commissioner felt that the
scheme would provide "an outlet for land owners who are prepared to play
the game according to these rules."
There were places in the New Territories where private development
could be accommodated, he said, and where the developers could provide
the necessary services themselves.
/He explained