TNAG-0856-FCO40-1066-Construction-of-underground-railway-system-in-Hong-Kong-1979 — Page 130

EXAMPLES OF COMPENSATION PAID

The following are two typical examples of the more than 80 owners who have used their statutory compensation and the various ex- gratia allowances to purchase new flats in a modern landscaped private housing complex in Tsuen Wan with a full range of amenities ranging from schools to a swimming pool complex:

(1) The owner-occupier of a 296 sq.ft. flat at Sai Lau Kok was

paid a total of $188,413 and bought a 536 sq.ft. flat at the Allway Gardens housing complex at Tsuen Wan for $207,480. The compensation was made up as follows:

Open market value at the date of reversion: Interest at current rates on the open market

value compensation sum, calculated from the date of reversion to the date of written acceptance of the Government offer:

Disturbance allowance:

Capitalised interest allowance:

Setting-up allowance:

Rental allowance:

$129,500

$2,395

$4,660

$30,536

$10,000

$11,322

$188,413

(2) The owner of a 296 sq.ft. flat in Sai Lau Kok received

$190,000 in compensation and purchased a 492 sq.ft. flat in a prime location on the 18th floor of Allway Gardens for $209,300. The compensation was made up as follows:

Open market value at the date of reversion:

Interest:

Disturbance allowance:

Capitalised interest allowance:

Setting-up allowance:

Rental allowance:

$130,000

$2,405

$5,536

$30,654

$10,000

$11,419

$190,014