Press briefing of Cabinet Decision taken on 2022-03-21

Implementation of a “Rental Purchase” Housing Scheme for tenants living with less facilities

- The State Ministry of Rural Housing and Construction & Building Material Industries Promotion has designed to implement a housing scheme called “Rental Purchase” with a view to finding solutions for the housing issue of tenants living with less facilities due to non-availability of lands and houses. Under the said project, it has been planned to construct 04 storied flats and 09 housing complexes with 464 housing units will be constructed at provincial level as its first stage. Since, the selected beneficiaries are not given chance to make a down payment, a monthly rent of Rs. 15,000/ - could be charged for 31 years and therefore the proposed project has been designed enabling to enter into an agreement with the beneficiaries so that the ownership of the house can be transferred to the second or third generation of the beneficiary and the house cannot be sold for any ground. Accordingly, the proposal made by the Minister of Urban Development and Housing to implement the said project, was approved by the Cabinet.