India’s TATA Housing starts US$400mn Sri Lanka property project

May 13, 2014 (LBO) – India’s TATA Housing has started a 400 million US dollar mixed development in Colombo with state-run Urban Development Authority, as part of a regeneration effort, officials said. In the first stage which started Monday the firm will build a four-tower apartment block with 650 units which will house 582 families and 100 shop owners who were displaced by the project in Colombo’s Slave Island area.

The project will be on a three acre area out of a total of 8 acres which has been released from the families.

Other projects by the UDA have come under fire for making slum dwellers, including poor ones who had been displaced involuntarily through state action to make a 50,000 rupee up front payment to get a 400 square feet house.

But the TATA project will not require the upfront payment.

UDA chairman Nimal Perera said all residents who had lost land and houses will get equal of bigger housing in the apartment block. He said all house owners’ consent had been obtained.

A person who had dwelling from 200 to 400 square feet would get a 400 square feet house, those between 400 to 600 will get a 600 square feet house, going up to 1,200 square feet.

TATA Housing