Cabinet approval has been granted for the implementation of a rental ownership scheme for those who have rented houses and are living under minor facilities.
The State Ministry of Rural Housing, Construction and Building Materials Industrial Promotion has planned a housing scheme called ‘Kuli Sinna’ to address the housing problems of renters living with less facilities without land and houses.
The Government said under the housing scheme, it is proposed to construct 4 story housing complexes and 9 housing complexes consisting of 464 houses under the first phase.
Since the beneficiaries selected are those who are unable to make a down payment the proposed project is designed to recover a monthly rent of Rs. 15,000 over a period of 31 years.
It has also been proposed to enter into an agreement with the beneficiaries so that the house can be transferred to the second or third generation and the house cannot be sold for any reason.
Accordingly, the Cabinet of Ministers has approved the proposal presented by the Prime Minister in his capacity as the Minister of Urban Development and Housing to implement the proposed project. (NewsWire)