TNAG-0806-FCO40-1011-Policy-of-Government-of-Hong-Kong-on-land-in-the-New-Territo-1979 — Page 75

18

On a local basis, this is a logical

method of working towards compensation,

but for the purposes of the establishing

of an universally applicable system,

it was defective in that :

(i) rates in different areas would be

different; and

(ii) the system has too many contro-

versial aspects; i.e. the

valuations to be put on saleable

lands, the proportions of land

planned for each user which were

determined solely by Government,

and whether any value should be

attributed to such uses as roads

and open space.

4.1.2 Average development value method

This method is essentially the same as

the local development value method

described above but the calculation of

the compensation rate could be derived

from the areas, costs and values of all

the urban development areas in the New

Territories aggregated in a single unit.

The only advantage this method has over

/the local

Page 75Page 76