Registrar-Generals-Department-Annual-report-1963-1964 — Page 19

40. Owing to the enormous increase in land values in the past few years strict adherence to the above basis of calculation would mean that in every case where a property was not developed to the full extent permitted by the lease the owner would, notwithstanding that the building on the lot was in good condition, be obliged, in order to be able to meet the greatly increased rent, either to redevelop or, if he did not himself have the necessary funds, to sell the lot for redevelopment. To meet this situation Government announced on 6th August 1963 a substantial concession to lessees. Under this, the lessee may choose either to renew on the normal terms or to surrender his existing lease and receive a new one in which development would be restricted to that existing on the property at the time. In that case the rent would be re-assessed on the basis of the restricted development and so be considerably lower. If at a later date the lessee wishes to redevelop his lot more intensively he can apply for a modification of the lease restrictions and pay the full increased development value in a lump sum within a specified time, not being later than the date of the first assignment of the whole or part of the property. The re-assessed Crown rent would however remain unaltered.

41. In connexion with all Conditions of Sale, Regrant, Exchange, etc., close liaison is maintained with the Colonial Secretariat and the Crown Lands and Survey Office, and so far as possible all major questions arising in the course of scrutiny are discussed and decided at weekly meetings of the Superintendent of Crown Lands and Survey, the Assistant Superintendent of Crown Lands, the Assistant Colonial Secretary (Lands) and the Deputy Registrar General. After the terms have been agreed, the Land Office is responsible for having the Conditions duly executed by the lessees. The most important case dealt with in the year was that of the Conditions of Sale of the lots in the former Naval Dockyard which the Government propose to sell in 1964–65. In conjunction with the Crown Lands Office a great deal of work was spent on the preparation of these Conditions, the special nature of which posed many problems.

42. Before leaving this subject it may be mentioned that the New Territories Section of the Registrar General's Department established in 1962 in the New Territories Administration Headquarters scrutinized and commented on no less than 243 draft Conditions of Sale etc. relating to New Territories lots.

Sub-divided Buildings

43. The 1962 Report of the Working Party on Sub-divided Buildings (of which the Deputy Registrar General, Mr. R. H. MUNRO, was Chairman)

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