India’s TATA Housing together with the Urban Development Authority (UDA) begins a USD 430 million mixed development project on a three acre plot of land at Slave Island in Colombo.

While the first phase of this project was launched yesterday (11 May) by Defence and Urban Development Ministry secretary Gotabhaya Rajapaksa, four towers with 650 housing units are o be constructed. One hundred shops are also to be constructed within this complex for those who lose their business premises in this project.

While expressing his views on this project, UDA chairman Nimal Perera said that those who have lost their dwellings due to this project would get housing units that are equal to the space of their earlier dwellings.

Those who had owned a space of 200 to 400 square feet earlier would get a housing unit of 400 square feet under this project while those who had owned a space of 400 to 600 square feet would get a housing unit of 600 to 1,200 square feet.

While expressing his views, TATA Housing chief Brotin Bannerjee said that his company would not involve itself in such a project if those house owners are not happy with it.

The government is offering a monthly allowance to those displaced due to this project during the two and a half year period for its completion as rent to find alternate accommodation.