18 Apr 2007
MAK KAN CHEONG v. THE DIRECTOR OF LANDS
- Citation
- MAK KAN CHEONG v. THE DIRECTOR OF LANDS
- Court
- Lands Tribunal
- Case number
- LDLR3/2004
The Tribunal held that compensation is OMV at 7 June 2003 and adopted the Rating & Valuation Department indices for time adjustments; it selected comparables AC2, AC3 and RC1, applied the Tribunal's adjustments (including time -13%,-17%,0%; location adjustments -5%,0%,-10%; headroom +5%; size 0%,10%,15%; frontage +1%,-15%,+5%; no layout or age adjustments), producing an adjusted unit rate of $51,793/m2. Applying that rate to agreed saleable areas produced OMVs on vacant possession for A1, A2 and A3 of $2,874,000; $2,874,000; and $2,867,000 respectively. For A4 (tenanted), the Tribunal applied…