Govt revises land exchange arrangements

The government on Thursday released more details about its plan to expand a land exchange scheme, to help speed up the creation of the Northern Metropolis.

The scheme, currently used in the Kwu Tung North/Fanling North and Hung Shui Kiu/Ha Tsuen New areas, allows land owners to apply for in-situ land exchanges, subject to certain conditions.

As well as being expanded to all new development areas, the scheme will be broadened to include not only private residential and commercial sites, but also sites for industry and privately-run community or welfare facilities, the Development Bureau said.

“Apart from allowing land owners’ in-depth participation in development in a manner that complies with the government’s planning, enhances the speed of implementing the Northern Metropolis and facilitates better development layouts, the revised arrangements will also reduce the government’s upfront spending on land resumption and public works while allowing the government to receive premium revenue earlier,” a spokesman said.

“The early provision of housing, industries and other development as well as public facilities will also benefit the public.”

Separately, the government also announced a pilot scheme involving standardising premium rates for agricultural land outside new development areas, to save the need for lengthy negotiations.

The first phase of the scheme will cover new town areas within Yuen Long, North, and Tuen Mun, as well as areas in the vicinity of existing or proposed railway stations.

The Lands Department will set the standard rates for different zones and different uses before and after lease modification, and the level of the rates will be reviewed annually.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Rthk.hk – https://news.rthk.hk/rthk/en/component/k2/1734109-20231228.htm