TNAG-0809-FCO40-1014-Legislation-for-Crown-lands-in-Hong-Kong-1978 — Page 379

G.S. 84

RESTRICTED

XCRI(78)3

5

(a)

(b)

Because:

-

ลง

2

-

building plans covering maximum development of the lot have already been approved and cons- truction is far advanced and will not in any way be affected by the resumption; and

the value of the development will not be significantly affected by the loss of the small strip to be resumed,

it is clear that a simple pro rata division of the overall land costs (as set out in paragraph 4 above) does not represent the value of the land resumed in the terms of the Ordinance. As stated im memorandum XCR(77)312, the Secretary for the New Territories proposes compen- sation of $12, 825 which is equal to $5 psf, a figure which it is considered will adequately reflect the value of the land to be resumed at the time of reversion.

23rd January 1978

(ENV 95/77/01)

COUNCIL CHAMBER

RESTRICTED