Infrastructure Development and Heritage Conservation | 217
Over 2.8 million land registers and 18 million documents can be accessed electronically. The table below shows the registry's business volume in 2008.
Land Registry Business Volume in 2008
Registration Services
(Distribution of Land Documents Lodged for Registration)
Nature
Agreements for sale and purchase of building units
Agreements for sale and purchase of land
Number
113 298
Assignments of building units.
Assignments of land
2 069
162 912
6 246
Building mortgages/building legal charges
84
Other mortgages/legal charges
144 245
Others
283 572
712 426
Total
Search Services
(Distribution of Searches of Land Registers and Records)
Online Searches*
Number
4 475 012
Per cent
88.7
Counter Searches
Number
Per cent
570 017
11.3
* Online searches are conducted through Integrated Registration Information
System (IRIS) Online Services.
Hong Kong currently uses a deeds registration system. It is intended to replace this with a title register to provide greater security and ease in conveyancing. To this end, a Land Titles Ordinance was enacted in 2004 but it will not come into effect until further amending legislation is passed. During the year, the registry continued with preparation of the Land Titles (Amendment) Bill and consulted the stakeholders. Work also continued on the development of information technology systems to support the future title registration service.
New Development Projects
The Government remains committed to building new infrastructure and improving existing facilities to meet the needs of economic development. In so doing, it continues to invest heavily on infrastructure development. Work on the provision of land and infrastructure in urban areas and the new towns was on schedule in 2008. Major development projects include:
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