September 22, 2019
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    ‘Jana Sevana’ National Housing and Settlement Development Drive

    August 02, 2014

    The National Housing Development Authority has planned to commence housing projects in the lands belonging to the Authority, under the ‘Jana Sevana’ National Housing and Settlement Development Drive with local private investors with the aim of providing houses to the people who currently do not own houses.

     

    The Pallekelewatta Housing Scheme at Kundasale has been designed to be implemented accordingly.

     

    The National Housing Development Authority has decided to sign a Public Private Partnership Agreement with the relevant local investors for the implementation of the project. The key elements on which the agreement is based upon are given below.

     

    • ·Transferring the development right to the investors.
    • · Protecting the rights of the people purchasing the houses by carrying out          financial transactions through "ESCROW" account.
    • · Paying the total government estimated value and 10% ofthe profit of the      
    •    project to the National Housing Development Authority.
    • · Paying 10% of the value of the land to the National Housing Development  
    •   Authority within 14 days of signing the Public Private Partnership Agreement.
    •  The developer will be granted permission to obtain money from the
    •   "ESCROW" account only after investing 25% of the project cost.
    • · All recommendations and approvals should be granted by the National
    •   Housing Development Authority and the Authority will be in charge of the
    •   supervision ofthe construction.
    • · The sale of houses will be carried out by the investor and after settling the  
    •   entire amount, the National Housing Development Authority will hand over
    •   deeds to the recipients of houses .
    • · Neither the government nor the National Housing Development Authority will
    •   bear any financial liability or expenditure for the project.

    (ST/KH)

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