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
Sri Lanka to decide venue for Chinese aircraft maintenance center after feasibility study
-- [28 minutes ago]
Students of Sri Lanka's private medical college file petition in Supreme Court seeking clinical training
-- [1 hour and 59 minutes ago]
Coalition party may split from Sri Lanka's ruling alliance over nominations to Uva PC election
-- [2 hours ago]
Sri Lanka conveys condolences to families of the passengers on Air Algerie flight
Both ruling and opposition parties are responsible for public welfare, Sri Lankan President says
No deaths of Indian fishermen in Sri Lankan waters since 2011
Norwegian support for post-graduate programs at Sri Lanka's Peradeniya University
Major rift in Sri Lanka government doctors' union
Maternal deaths in Sri Lanka's Northern Province reduced dramatically
International experts advising Sri Lanka's Missing Persons Commission to arrive next week

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.