TNAG-0670-FCO40-819-Policy-of-Government-of-Hong-Kong-on-land-in-New-Territories-1977 — Page 12

G.F. 323

CONFIDENTIAL # 機密

4

the acquisition of property in New Kowloon, land exchange

principles for the acquisition of old schedule rural lots

in New Kowloon were formalised.

However by 1976 land

required to meet the New Kowloon exchange commitment was

exhausted and an ex-gratia cash offer was substituted for it.

8.

Similarly in June 1960, following a general

discussion in "xecutive Council on land conversion in the

New Territories, the District Commissioner issued a letter

to rural committees setting out the principles and terms on

which the conversion and exchange of land in the lew

Territories would be allowed. This letter provided the

basis for a system of land exchange for land resumed in the

towns of the New Territories, as follows:

Agricultural land is exchanged at a rate of 5 square

feet of surrendered land for 2 square feet of new

building land, and a premium is paid representing

the difference in value between the surrendered land

and the new land granted assessed on values prevailing

at the time of surrender.

Building land resumed is

exchanged on a foot for foot basis with a premium

payable of the difference in value between restricted

village building land and land capable of full urban

development.

These exchanges cannot be concluded

/immediately

CONFIDENTIAL #

機密