TNAG-0806-FCO40-1011-Policy-of-Government-of-Hong-Kong-on-land-in-the-New-Territo-1979 — Page 83

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per square foot (i.e. $22 x 2). This would be payable

in addition to the normal compensation arrived at by

proper valuation process.

5.7

They

The acceptance of the adequacy of these

proposals by the Heung Yee Kuk members was only a

qualified acceptance. They were doubtful of the

appropriateness of valuation methods under the present

ordinance to put a fair valuation on the different

forms of building land in the moving market.

wanted some means whereby the valuation of building

land done by the Government valuers could be subjected

to independent arbitration, if a landowner felt aggrieved

by such valuation, regardless of whether it was to be

used as payment of cash compensation or as a credit in

a land exchange. They felt, moreover, that the compensation

paid for building land should be more closely tied with

the scale of premia charged for different classes of land

in Letter B exchanges. Finally, they wanted to be

assured that reasonable arrangements would be made to

ease the rehousing problem of a landowner whose house

might have to be demolished to make way for urban

development

However, the Heung Yee Kuk members

agreed to accept the proposal contained in the paragraph

above on the following three conditions

/5.7.1