TNAG-0806-FCO40-1011-Policy-of-Government-of-Hong-Kong-on-land-in-the-New-Territo-1979 — Page 111

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in, certain areas, such as Yuen Long, where

the development is taking place on land which

was almost all formerly leased land, the ratio

will never be realistic.

Note 2

Premium Assessment

The premium for the new building lot to be

granted in a Letter B exchange is the difference

between :

· (i) the value of a formed and serviced

building lot assessed as at the

time of surrender of the old land,

as if it (the new building lot) had

been available, formed and serviced

at that time; and

(ii) the stated credit value of the old

land surrendered.

Approved valuations used in Letter B exchanges

for all new building land in all districts and

for all dates are tabulated in a master chart

known as Chart 'W' (Appendix C), which is available

for inspection in all District Offices, and from

which an owner of exchange entitlements issued

at any time can assess the premium he would

/have