FAQ for Tenants
What is the '7531' formula for calculating statutory compensation as stipulated in the Landlord and Tenant (Consolidation) Ordinance (LTO) effective before the amendment of the LTO on 9 July 2004?
- Calculation is based on the yearly rateable value.
- Rateable value is decided by the Rating & Valuation Department, which is estimated at about 12 months' rent.
- Statutory compensation was calculated as follows:
|Rateable Value (RV)||Basic Ex-gratia Payment|
|The first $30,000 RV||7 times RV|
|The next $30,000 RV||5 times RV|
|The next $30,000 RV||3 times RV|
|The remaining RV||1 times RV|
For new projects launched under the URAO (i.e. other than the announced ex-LDC projects) the URA adopts the following policies for eligible domestic tenants:
This web page briefly outlines the current principles and policies adopted by the Urban Renewal Authority (URA) for providing re-housing and making ex-gratia payment to affected tenants of the projects. For updated information, please refer to the URA Board approves enhancements to policies for ex-gratia payment and rehousing press release issued on 13 June 2017.
Available in Chinese version only.