THURSDAY, MARCH 15, 1979.
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COMPENSATION ZONES FOR RESUMED LAND IN THE NEW TERRITORIES
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THE GOVERNMENT HAS DRAWN UP SEVEN ZONES ON WHICH IT WILL BASE COMPENSATION PAYMENTS FOR PRIVATE LAND RESUMED IN THE NEW TERRITORIES.
THE ZONES COVER AGRICULTURAL AND BUILDING LAND BOTH INSIDE AND OUTSIDE THE NEW TOWN DEVELOPMENT LAYOUTS AND ARE TIED TO A TWICE-YEARLY REVIEW OF COMPENSATION RATES.
THE FIRST TWO ZONES - A AND B - INCLUDE LAND WITHIN AN URBAN DEVELOPMENT LAYOUT AND LAND TECHNICALLY OUTSIDE THE LAYOUT BUT EITHER ADJACENT TO IT OR HAVING ALL THE CHARACTERISTICS OF A LAYOUT AND WHICH IS RESUMED BY THE GOVERNMENT FOR RESALE.
COMPENSATION IN THESE ZONES WILL BE PAID AT PRESENT FULL RATE WHICH IS $39 PER SQUARE FOOT FOR AGRICULTURAL LAND AND VALUATION PLUS $79 PER SQUARE FOOT FOR BUILDING LAND.
THESE RATES ARE CURRENTLY BEING REVIEWED AND WILL BE ADJUSTED ON APRIL 1, THE PRINCIPAL GOVERNMENT LAND AGENT OF THE NEW TERRITORIES ADMINISTRATION, MR. FRANK ROOME, SAID TODAY (THURSDAY).
HE SAID THE OTHER FIVE ZONES HAD BEEN DRAWN UP TO COVER LAND AWAY FROM URBAN DEVELOPMENT AREAS WHERE COMPENSATION WOULD BE PAID ON A REDUCING SCALE GOVERNED EITHER BY LOCATION OR DEVELOPMENT POTENTIAL. IN THE CASE OF BUILDING LAND, THE PROPORTIONATE COMPENSATION WOULD BE PAID IN ADDITION TO FULL VALUATION.
BACKDATED TO NOVEMBER 1 LAST YEAR, HE SAID THE GOVERNMENT WOULD PAY THE FOLLOWING FIXED PERCENTAGES:-
*
SEVENTY FIVE PER CENT FOR AREAS IN WHICH NO DEVELOPMENT IS PLANNED BUT WHICH MAY BE AFFECTED BY LATER EXTENSIONS TO THE LAYOUT BECAUSE OF THE IR PROXIMITY-
* FIFTY PER CENT FOR AREAS IN WHICH NO DEVELOPMENT IS
PLANNED AND ARE UNLIKELY TO BE AFFECTED BY LATER EXTENSIONS BUT WHICH ARE REQUIRED SOMETIMES FOR PURPOSES DIRECTLY CONNECTED WITH LAYOUT DEVELOPMENT OR FOR LOCAL IMPROVEMENT -
* FIFTY PER CENT FOR OUTLYING AREAS WHERE LAND EXCHANGES ARE
THE RULE BUT RESUMPTIONS FOR CASH ARE SOMETIMES UNAVOIDABLE-
* THIRTY PER CENT FOR AREAS NOT INCLUDED IN OTHER ZONES- AND
* TWENTY PER CENT FOR LAND IN AREAS WHERE DEVELOPMENT IS
RESTRICTED - SUCH AS COUNTRY PARKS, FIRING RANGES AND CLOSED AREAS.
MR. ROOME SAID THAT DETAILS OF THE NEW ZONES WERE SHOWN ON A ZONAL PLAN WHICH WAS NOW AVAILABLE FOR INSPECTION AT EACH OF THE ADMINISTRATION'S SEVEN DISTRICT OFFICES.
HĚ ADDED THAT THE PRACTICE OF OFFERING LAND EXCHANGE ENTITLEMENTS IN CERTAIN AREAS, PARTICULARLY IN THE NEW NEW TOWNS, WOULD IN NO WAY BE AFFECTED BY THE NEW COMPENSATION PROCEDURES.
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