Lanka Property Watch - Sri Lanka Property Investment and Analysis
Analysing Sri Lanka's Property market, investment options and latest property news in Sri Lanka
Monday, 4 November 2013
Krrish site to be offered to CHOGM business delegates
The Government is to offer the Transwork site in Colombo now leased out to India’s Krrish group to potential investors attending the Commonwealth Business Forum, official sources said.
This is because the company has failed to make the final lease payment and amidst accusations of corruption linking a top state official to the deal.
Some of this money has been returned to apartment owners who requested the money back after the project ran into difficulties. But there are others whose money is still with Krrish.
Apart from that, the official said, that without a formal approval of the building plan it was somewhat illegal to sell the apartments.
(Source: Sunday Times)
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