IN the first appeal by a flat owner under the Home Ownership Scheme, the Lands Tribunal has rejected a claim that the Housing Authority's assessment of the flat's value was wrong.
Judge Cruden, sitting with surveyor M. W. Phillips, held that the Director of Housing's assessment had not inflated the value of the property and was, in fact, conservative.
The Director judged that the prevailing market value of Poon Kwai-ying's flat, on the first floor of Siu Hong Court in Tuen Mun, was $730,000.
As Ms Poon had applied to sell her flat to a third party, he set a premium of $145,781 for her to pay.
A premium assessed on the prevailing market value of property is charged if owners sell their flats to purchasers other than the Housing Authority.
Ms Poon objected, saying the assessed value should only have been between $530,00 and $550,000.
