Registrar-Generals-Department-Annual-report-1965-1966 — Page 21

43. 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 build- ing 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 gives the lessee the choice of renewing on the normal terms or of surrendering his existing lease and receiving 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.

44. 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 Principal Assistant Colonial Secretary (Lands) and the Registrar General or his representative. After the terms have been agreed, the Land Office is responsible for having the Conditions duly executed by the lessees.

45. The New Territories Section of the Registrar General's Depart- ment, which normally operates in the New Territories Administration Headquarters, scrutinized and commented on 336 draft Conditions of Sale etc. relating to New Territories lots.

Sale of Flats in Uncompleted Buildings

46. The Conditions of Sale of new lots and Exclusion Orders made under the Landlord and Tenant Ordinance after 20th December 1961 contain clauses prohibiting the owners from entering into agreements for the sale of units in uncompleted buildings without the prior consent of the Registrar General and then only in conformity with any condi- tions imposed by him. During the year, 142 applications for such con- sent were received, and 108, including some received in 1964-65, were approved on certain conditions. 101 applications were withdrawn and 72 were pending at the end of the year.

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