ENG-1961 — Page 205

LAND AND HOUSING

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a good prospect for development of all kinds. In Junk Bay, land has been set aside for the ship-breaking industry and the first site realized $530,000.

Revenue from land transactions in Hong Kong, Kowloon and New Kowloon during the financial year 1960-1 came to $56,397,560 for sales by public auction; $4,805,660 for private treaty sales; $7,581,140 for modification of lease conditions, ex- tensions and exchanges; and $1,872,695 for regrants of expired 75-year leases.

Where it is not possible to dispose of land immediately, either because public utilities and other services are not yet available or because the site has been set aside for some future purpose, the land is rarely left vacant but may be occupied on a temporary annual permit. The 1960-1 revenue from these permits was $8,208,662 in the urban area and $436,047 in the New Territories. As permanent development has expanded, it has become necessary to cancel some of these permits, and the number of permits in the urban area and in the more developed parts of the New Territories is likely to continue to decrease as time goes on.

During the same period, land transactions in the New Territories brought in premia of $1,729,525 for sales by public auction and private treaty; $2,228,828 for land exchanges (this figure represents cash paid to Government and excludes the value of land sur- rendered for public purposes) and $530,111 for modifications of lease conditions. Details of premia received on sales of Crown land between the years 1851 and 1960-1 are given in Appendix VIII.

Surveys. All surveys in Hong Kong are plotted on the Colony Grid which is a Cassini Plane Rectangular one with its origin on Victoria Peak. The grid meridian does not coincide with the true meridian at this point.

The main triangulation, which is of a secondary standard, was observed in the 1920's, and was adjusted by the War Office in 1928-30. Minor triangulation stations have been established over the years during the course of surveys in specific areas, and the horizontal control further extended by traversing.

The urban area of Hong Kong Island, Kowloon and New Kowloon is surveyed at the large scale of 1/600 (50 feet to 1 inch). This is necessary because of the congested and crowded conditions