Lankapage Logo Recent Top Stories
CP 14 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Sri Lanka not to sell land or properties to foreigners
Thu, Feb 21, 2013, 08:58 pm SL Time, ColomboPage News Desk, Sri Lanka.

Feb 21, Colombo: Sri Lanka, considering the increasing demand for foreign investments in the country with the expansion of development activities of the government, will no longer sell or transfer state or private real estate to foreigners.

The government will amend ordinances and introduce provisions to prohibit foreigners from purchasing absolute ownership of state or private lands in the country or the outright transfer of property to foreigners.

Instead, the government will lease out such lands on a long term lease basis without affecting the economic development activities of the country.

However, the prohibition will not be applicable for purchasing of lands for foreign Embassies or High Commissions in Sri Lanka.

The Cabinet of ministers has approved making regulations under State Land Ordinance and introducing amendments to the Notaries Ordinance and Registration of Document Ordinance, for the implementation of the measures.

Minister of Public Administration and Home Affairs W.D.J. Seneviratne and Minister of Lands and Land Development Janaka Bandara Tennakoon have proposed the new measures.



ColomboPage - Recent 10 Stories
Chief Prelate commends Sri Lankan President's efforts to eradicate drug menace
-- [5 hours ago]
Travel goods from Sri Lanka to enjoy duty free entry to the United States
-- [6 hours ago]
Private buses in North refrain from work to protest shooting at judge
-- [6 hours ago]
Sri Lanka is collaborating with other countries to make island the economic hub of Indian Ocean
PM says government will provide necessary solutions to control the dengue menace and waste management
Sri Lanka Customs arrest French national attempting to smuggle gems worth over Rs. 11 million
State doctors' union readies for another strike on Tuesday
Police dismantle the stage setup by protesting students at Lipton Circus, arrest 13 students
Nominations for three provincial council elections to be announced in October
2017 POLA Conference opens in Sri Lanka

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.