The Lands Department is expected to pocket at least HK$2.5 billion from the land auction of a luxury residential site at Inverness Road in Kowloon Tong this afternoon. Surveyors believe the site, on the periphery of Kowloon Tong near Kowloon Tsai Park, will fetch HK$2.06 billion to about HK$3 billion. It translates into HK$9,052 to about HK$15,000 per square foot. The site covers an area of 75,843 sq ft, which could provide a total gross floor area of 227,529 sq ft. But the government's new rule on capping the amount of common space will be a major concern for developers. To protect the low-density living environment, the Lands Department has imposed restrictions on the site.