Lankapage Logo Recent Top Stories
CP 13 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Sri Lanka entrusts India's TATA to build housing project in capital
Fri, Oct 19, 2012, 08:48 pm SL Time, ColomboPage News Desk, Sri Lanka.

Oct 19, Colombo: Sri Lanka has offered a major housing project to India's Tata Housing Development Company as part of efforts by the Urban Development Authority (UDA) to develop the country's commercial capital.

The cabinet of ministers had approved a proposal presented by the President, in his capacity as the Minister of Defence and Urban Development to entrust the development of the Slave Island area of Colombo to the TATA housing Development Co Ltd and its partner SG 18 Advisors & Consultants (Private)Ltd.

Under the Slave Island Area Redevelopment Project the UDA will provide 8 acres of land bordering former Education Department site, Malay Street, Justice Akbar Street, and Railway line on a 99-year lease to the Indian company, Media Minister Keheliya Rambukwella said at the cabinet briefing today.

TATA is entrusted to build 456 decent housing units with all facilities for the current residents in alternative lands in the same area within two years. In return, the residents have agreed to renounce their rights to claim compensation for their respective land plots, the government said.

Until the houses are built, householders will be provided with temporary housing and rents will be paid, Minister Rambukwella said. The land released will be used for a mixed development to create more opportunities for urban investments.

The total cost of providing alternate housing/commercial units including rental payments for temporary accommodation of the families is estimated to be about 5 .87 billion rupees.



ColomboPage - Recent 10 Stories
China - Sri Lanka cooperation only for peace and development - envoy
-- [4 hours ago]
Identity of Sri Lanka election rally shooting suspect revealed
-- [5 hours ago]
Sri Lanka PM says many tasks for new government, counts on Speaker for consensus in House
-- [5 hours ago]
Nestlé Lanka PLC opens trading at Colombo Stock Exchange
-- [6 hours ago]
Sri Lanka's Northern Provincial Council unanimously calls for an international tribunal
-- [7 hours ago]
'India - Sri Lanka relations now on a sound footing'
-- [8 hours ago]
Sri Lanka President urges legislators to end divisive politics and strengthen national government
-- [9 hours ago]
Leader of the House and Chief Government Whip Appointed
Sri Lanka Tourism to focus on an Indian niche market- IAS officers
Sri Lanka Navy arrests 16 Tamil Nadu fishermen

Copyright © 2000, 2012 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.