Lankapage Logo CP 19 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Average land prices in Colombo increased by 10 percent in second half of 2017
Fri, Mar 2, 2018, 09:23 pm SL Time, ColomboPage News Desk, Sri Lanka.

Mar 02, Colombo: Land values in Sri Lanka's commercial capital Colombo on average has increased 10.4 percent according to the biannual Land Price Index compiled by Central Bank of Sri Lanka.

The Central Bank compiles and analyses several indicators, in order to monitor the developments in the real estate sector. Accordingly, the Land Price Index (LPI) is compiled biannually covering the Colombo District since 1998.

In the compilation process of LPI, CBSL uses the land price data collected by the Valuation Department of Sri Lanka covering around 50 centers of five Divisional Secretariat (DS) divisions in the Colombo District. Colombo, Dehiwala, Homagama, Kaduwela and Kesbewa are the five DS divisions considered in the LPI.

In view of the diverse nature of the land use and to maintain homogeneity, three indices for residential, commercial and industrial lands are computed separately. The overall LPI is computed by taking the average of these three sub-indices.

According to the data, the Residential land prices increased by 9.7 percent and Commercial land values by 11.2 percent while Industrial land price increased by 10.1 percent.

On year on year basis for the period ending December 2017, LPI recorded a 10.4 percent increase, continuing the recent trend in land price movements in the Colombo district. All three sub-indices of LPI (Residential, Commercial and Industrial) contributed to this increase.

 

ColomboPage - Recent 10 Stories ::
UK to explore opportunities to invest in building rural hospitals and bridges
-- [2 minutes ago]
Sri Lanka Supreme Court orders to file charges of contempt of court against Deputy Minister
-- [47 minutes ago]
Sri Lanka's economic growth positive at 3.2% in Q1 2018
-- [1 hour and 31 minutes ago]
SriLankan Airlines says no need to arrive earlier for departures due to BIA renovations
-- [1 hour and 50 minutes ago]
Ship in Kankasanthurai harbor catches fire
-- [1 hour and 59 minutes ago]
No decision to increase price of milk powder - CAA
-- [6 hours ago]
No plans to remove any subjects from GCE/O Level Syllabus - Education Minister
Rs. 3 million contract given to murder Kiri Vehera Chief Incumbent - Police
Gestetner subsidiary Fintek to distribute Sharp products in Sri Lanka
'Gamperaliya' program initiated to make a huge revolution in village development - President.

Copyright © 2000, 2016 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.