Delay could prove costly

PUBLISHED : Friday, 15 August, 1997, 12:00am
UPDATED : Friday, 15 August, 1997, 12:00am

I am concerned about the way in which the Land Development Corporation (LDC) is purchasing properties in the Tsuen Wan Comprehensive Development Area.

My mother owns a flat in the redevelopment area and she has already agreed to sell her flat to the LDC.

All she wants to know is the sales and purchase procedure schedule, so that she can plan ahead and decide whether or not to buy or rent another flat and when she has to do this.

However, what the LDC does is to tell her to wait until further notice. There is not even a schedule. This is totally unacceptable.

We understand that the LDC has a lot of work to do, but the fixing of a schedule is important. Without it, residents do not know how to plan for their next move.

Moreover, the purchase price offered by LDC is of current value.

Money can generate interest. The longer the waiting time owners must endure before getting the purchase money, the more they lose. Will the LDC compensate them for the interest they lose by leaving those selling in a queue without a fixed sale and purchase date? WONG SHUN-YIN New Territories