| 1. |
Calculation
of the market value of a property is based on the saleable
area of the property. The definition of saleable area shall
follow the Code of Measuring Practice issued by the Hong Kong
Institute of Surveyors (HKIS) issued in March 1999. All area
calculations shall be based on copies of the latest relevant
building plans approved by the Buildings Department which
shall be conclusive and binding.
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| 2. |
The
Housing Society has appointed seven independent surveyor firms
by tender to provide advice on the value of a notional 7 year-old
replacement flat. The unit rate offered is derived from the
weighted average of the seven independent valuations. The
Housing Society will reimburse owners' surveyor fees for assessments
of open market value only, excluding any Home Purchase Allowance
(HPA) or Supplementary Allowance (SA). The Housing Society
is prepared to reimburse such professional fees (without interest)
for the service of one surveyor if a sale is completed. For
the avoidance of doubt, reimbursement of surveyor's expenses
shall be limited to one surveyor per property and paid after
completion of the sale. (Please see Reimbursement
of Surveyors' Fee)
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| 3. |
No
HPA / SA or allowance for non-domestic properties will be
paid in cases where an owner only purchases his property within
an announced project area either after the publication of
the project in which his property is situated in the Gazette
under Section 23 of the Urban Renewal Authority Ordinance,
or after the date of the first letter sent by the Housing Society to
the owner informing him of the implementation of the project
in which his property is situated, in cases where publication
under Section 23 of the said Ordinance is not required.
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| 4. |
No
value, compensation or ex-gratia allowances will be paid in
respect of structures, which are not erected in compliance
with the Buildings Ordinance and the terms of the Government
lease under which the property is held.
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| 5. |
The Housing Society reserves the right to revise its offers or take legal
action against any owner if he is found to have given false
or misleading information to the Housing Society.
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| 6. |
The Housing Society considers it wholly unacceptable that an owner should
seek to use unlawful means to evict his tenant or licensee
in an attempt to secure a higher allowance for non-domestic
use or HPA / SA. If it is brought to the notice of the Housing Society
that an owner has used unlawful means to evict his tenant
or licensee with an aim of obtaining a higher allowance for
non-domestic use or HPA / SA, the Housing Society will reduce / reconsider
the allowance for non-domestic use or HPA / SA originally
offered to the owner.
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