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
Canada encourages Sri Lanka to fulfill its commitment to UNHRC on the anniversary of Black July
-- [15 minutes ago]
Sri Lankan PM questions how fighting corruption is political revenge
-- [45 minutes ago]
Government warns plantation companies failing to pay Rs. 2500 wages increment to workers
-- [1 hour and 41 minutes ago]
Two Japanese naval ships arrive at Sri Lanka's Colombo Port
-- [2 hours ago]
Sri Lanka plans LPG imports from Iran again
-- [2 hours ago]
Sri Lanka hopes to restore crude oil imports from Iran
-- [2 hours ago]
President to deposit treasure items in Moragahakanda Kalu Ganga reservoir project tomorrow
-- [9 hours ago]
Pakistan national carrier confirms talks with SriLankan on leasing four A330s
Sri Lankan President instructs to raise VAT on tobacco and remove private healthcare charges
Sri Lanka Navy seizes 156 kg of Kerala Cannabis abandoned on the northwestern coast

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.