July 04, 2013 (LBO) – Over 71 condominiums, especially some built during a boom that ended in 2009 have failed to conform to building regulations, leaving those who bought them without deeds of transfer, an official said. But a number of apartments in Colombo have failed to conform to building standards and are yet to be approved by the condominium authority.
CMA issues a certificate which facilitates the registration of the deed of transfer in the name of the buyer, after considering the Certificate of Conformity (COC) issued by a local authority.
“Most of these apartments were built with poor standards,” Gamage said. “So the developers can’t get the COC and we can’t issue our certificate. There were 71 such files.”
Apartments are typically sold before they are built with prospective owners pre-paying a deposit and paying in instalments as construction progresses.
Authorities are now developing a new process to make sure that developers conform to building regulations, he said.
Though several large mixed development projects are now being proposed, especially with foreign investor involvement, the number of projects so has not returned to the level of the boom year.
Sri Lanka’s Condomini