5,000 flats to be constructed for middle income families

AN | Published: 2:17 PM Oct 14 2020
Local 5,000 flats to be constructed for middle income families

The Urban Development Authority has commenced the construction of 5,000 flats for low income and middle income families.

The project is being carried out under the guidance of President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa.

A special discussion was held on the instructions of Prime Minister Mahinda Rajapaksa, along with the Minister of Urban Development and Housing and Dr. Nalaka Godahewa, Minister of State for Urban Development, Coast Conservation, Pollution and Public Sanitation, on 12 October.

Secretary of the Ministry of Urban Development and Housing, Sirinimal Perera, said that preliminary work on the construction of the flats will begin immediately.

He also pointed out that the President and the Prime Minister have given instructions to carry out the program in phases where low income homeless families and middle class families both receive new houses through this project. 

He further stated that the new apartment complexes will be constructed with the aim of permanently resettling public officials in various fields including doctors, lawyers and teachers as they begin their careers.

Accordingly, construction of these 5,000 new flats will commence in Colombo, Bloemendal, Peliyagoda, Orugodawatta, Kottawa, Pannipitiya, Malabe, Kandy, Anuradhapura and several other cities.

Furthermore, plans are in place to make available the purchase of these houses at a concessionary interest rate of 6.25% over a period of 30 years. 

The initial cost of the construction of these flats will be Rs. 25 billion , which will be funded through a debenture issue. The total cost of 5,000 flats is 60 billion rupees.

The financial allocation for the construction of these 5,000 flats will be provided by the Urban Development Authority under whose supervision the project will take place to ensure that all constructions are carried out in a proper manner.

In consultation with the Construction Association, the Urban Development Authority has decided to build high quality apartments by handing over the project to Grade 1 contractors.

AN | Published: 2:17 PM Oct 14 2020

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