Sri Lankan government approves proposal to re-locate low income families in Colombo

The Sri Lankan government has approved a proposal made to the Cabinet of ministers by the Defence Ministry for the issuance of Urban Development Authority (UDA) Debentures to collect a sum of Rs. 5 billion to re-locate the low income families and develop the lands.


Accordingly, the UDA is to lease out valuable lands in Colombo presently occupied by 66,000 low income families.
The Urban Development Authority has formulated a project proposal to develop such valuable lands in stages, to improve the living standard of the low income communities of the city.
The Cabinet has granted approval to the UDA to lease out 78 acres of 142 acres acquired by the Authority at Rs. 2 million per perch until it obtains funds for the project.