TNAG-0806-FCO40-1011-Policy-of-Government-of-Hong-Kong-on-land-in-the-New-Territo-1979 — Page 77

20

multiplying the original compensation

by the percentage by which the average

sales value has increased in the inter-

vening period. This produces the

following compensation 1977 rates :

Tsuen Wan

$21.90 per square foot

Tuen Mun

Yuen Long

Tai Po

$26.90 per square foot

$26.00 per square foot

$24.40 per square foot

Sha Tin

$29.00 per square foot

4.1.4

This method produced the obvious discrepancy

of a lower 1977 rate in Tsuen Wan than

in any other area for the simple reason

that the 1960 average sales values were

higher there than anywhere else, whereas

the 1960 compensation rate being roughly

based on agricultural values, was almost

the same. In this respect, the system

was not considered entirely satisfactory.

Arbitrary systems derived from the existing

value of Letter B

Ε Various other methods

were considered, including the addition

of an inducement element in the form of a

percentage or a fixed sum to the current

market value of recent Letter B. A

/percentage