Approval was granted at the cabinet meeting held on 04-07-2022 to provide 101 housing units from the “Viyathpura” housing complex on a rental basis for the period of one year, for the Members of Parliament who had lost their houses due to the unrest that prevailed in the country on 09-05-2022.
Later on, the aforementioned Members of Parliament requested to give them the opportunity to purchase the said houses under the concessionary method.
Accordingly, approval has been granted at the cabinet meeting held on 15-07-2024 to provide one housing unit that is sold to the general public at the minimum value of Rs. 15.5 million and the maximum value of Rs. 22 million per house at the reduced value of Rs. 13.34 million and Rs. 18.21 million, respectively, for the Members of Parliament, and to charge 25% of the purchase price initially, with the balance amount to be charged within
15 years at a 10% interest rate.
Further, 29 Members of Parliament have deposited 25% of the purchasing price on 31-12-2024 to purchase the aforementioned houses under this concessionary method.
As a consequence, the Urban Development Authority has incurred a loss of Rs. 92.126 million due to this payment scheme.
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Accordingly, the Cabinet of Ministers has approved the proposal presented by the Minister of Urban Development, Construction, and Housing to abolish the said payment method with immediate effect if the 29 Members of Parliament agree to provide opportunities for the general public to purchase the
aforementioned houses under the said scheme and at the said prices
