Friday, 26 August 2011


Sri Lanka and India are tied as the cheapest countries in which to build with construction costs estimated to be 72% cheaper than the UK baseline, according to one consultancy group study. 

The current economy plays a significant role, but analysts contend supply chains and other logistical issues faced by these countries also act to raise costs. 

Sri Lanka was also the cheapest country in the 2010 edition of the report with the cost of construction just 27% of the UK.
(Source: Adaderana)

Jaffna's property prices surge as peace returns

Selvarajah Ragunathan greets me warmly at his Jaffna home. His face is kindly but furrowed with sadness.
He lost his brother and sister in the early years of the civil war, more than 20 years ago.
Like many others, he left his rural home when the army took over the land.
He worked for years in the Gulf but could not save much. Now he rents this place in the city - a quite spacious house with a garden, where he lives with his wife and their 21-month-old son, Adchayan.


(Source: BBC)

Wednesday, 24 August 2011

CID probes big frauds in house and property deals

The Criminal Investigations Department (CID) has assigned a team to track down racketeers behind illegal house or land transactions, a senior officer said. The probe comes on a directive from Defence Secretary Gotabaya Rajapaksa amidst an increasing number of complaints, some of which he had received personally.

The CID will probe cases of persons illegally acquiring houses on forged documents, cases of driving out the owners by force, extorting money from owners of houses and cases of selling or mortgaging lands owned by others, the officer said.

Among the victims have been persons who have migrated few years ago and returned recently.
Complaints could be made by calling 011-2320141 -5. Fax – 0112380380.


(Source: Sunday Times)