FRIDAY, SEPTEMBER 21, 1979
INCREASES IN COMPENSATION FOR RESUMED LAND IN N.T.
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THE GOVERNMENT TODAY (FRIDAY) ANNOUNCED INCREASES IN ITS COMPENSATION RATES FOR LAND RESUMED IN THE NEW TERRITORIES.
AS FROM OCTOBER 1, OWNERS OF RESUMED AGRICULTURAL LAND WITHIN THE NEW TOWN DEVELOPMENT AREAS WILL BE COMPENSATED AT THE NEW FULL RATE OF $59 PER SQUARE FOOT INSTEAD OF $53 PER SQUARE FOOT AN INCREASE OF ABOUT 11 PER CENT,
THE EX-GRATIA ALLOWANCE OFFERED TO OWNERS OF RESUMED BUILDING LAND WITHIN THE NEW TOWN DEVELOPMENT AREAS WILL BE AT THE NEW FULL RATE OF $125 PER SQUARE FOOT INSTEAD OF $113 PER SQUARE FOOT - A 9.6 PER CENT INCREASE.
GIVING DETAILS OF THE NEW RATES TODAY, THE ACTING PRINCIPAL GOVERNMENT LAND AGENT OF THE NEW TERRITORIES ADMINISTRATION, MR. A.J. HARLAND SAID THEY HAD BEEN DRAWN UP IN LINE WITH THE GOVERNMENT'S POLICY OF CONDUCTING HALF-YEARLY REVIEWS OF COMPENSATION RATES IN THE NEW TERRITORIES.
THE POLICY WAS ADOPTED EARLY LAST YEAR ON THE RECOMMENDATION OF THE WORKING GROUP ON NEW TERRITORIES URBAN LAND ACQUISITION HEADED BY SIR YUET-KEUNG KAN.
MR. HARLAND SAID THE NEW RATES WOULD BE EFFECTIVE UP TO MARCH 31 NEXT YEAR, WHEN A FURTHER REVIEW WILL BE CARRIED OUT.
HE POINTED OUT THAT UNDER THE REVISED GOVERNMENT LAND RESUMPTION POLICY IN THE NEW TERRITORIES, OWNERS OF RESUMED LAND OUTSIDE THE NEW TOWN DEVELOPMENT AREAS WOULD BE COMPENSATED AT A PROPORTIONATE PERCENTAGE OF THE NEW FULL RATES DEPENDING ON THE LOCATION OF THE LAND RESUMED, AND MORE PARTICULARLY AS DEFINED ON A ZONAL PLAN AVAILABLE FOR INSPECTION BY THE PUBLIC AT EACH OF THE DISTRICT OFFICES.
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