Concessions granted to MPs to purchase “Viyathpura” houses, abolished
The Cabinet of Ministers has approved a proposal to immediately abolish the concessionary payment scheme previously granted for Parliamentarians to purchase houses from the “Viyathpura” housing complex, which was built by the Urban Development Authority.
Approval was granted by the Cabinet in July 2022 to provide 101 housing units from the “Viyathpura” housing complex on a rental basis for the period of one year, for MPs who lost their houses due to the unrest that prevailed in the country on May 09, 2022.
Subsequently, MPs sought to purchase the houses under a concessionary payment method. Accordingly, approval was granted at the Cabinet meeting held on July 15, 2024 to provide one housing unit that is sold to the general public at the minimum value of Rs. 15.5 million and the maximum value of Rs. 22 million houses at a value of Rs. 13.34 million and Rs. 18.21 million, respectively, for MPs, and to charge 25% of the purchase price initially, with the balance amount to be charged within 15 years at a 10% interest rate. Further, 29 MPs had deposited 25% of the purchasing price on December 31, 2024 to purchase the houses under the concessionary method.
