Press briefing of Cabinet Decision taken on 2017-03-21

Transfer of the ownership of Condominium and Non Condominium Properties over to the long term residents there

- The Government has planned to construct 500,000 housing units for the lower and middle income families within the year 2017 under private-public partnership and the budget 2017 has proposed to transfer the ownership of the condominium and non-condominium properties over to the residents who had been resident there for over a period of 15 years. Accordingly, the proposal made by Hon. Ranil Wickremasinghe, the Prime Minister in his capacity as the Minister of National Policies and Economic Affairs, to formulate a methodology for the transfer of ownership to the owners of such properties, was approved by the Cabinet.