Thursday, 08 May 2025
Apartment builders' 'games' come to light

Apartment builders' 'games' come to light Featured

Many companies engaged in building apartments in Colombo have obtained permission from the Urban Development Authority (UDA) after producing fake information, reports say.

It is said that the Traffic Impact Assessment is the most forged report.

Although usual practice demands professionals to provide such an assessment, this is usually done with forged details by engaging individuals with this knowledge, from the Moratuwa University, for money.

Profitable

Speaking to 'Sri Lanka Mirror', an individual who was previously engaged in such constructions said that this was the most profitable business venture in the country.

He revealed that 90% of the cost can be covered when handing over the finished apartment to a customer.

All that needed to be done was to purchase a plot of land from the Colombo suburbs and approve a plan to construct a set of apartments.

He further said that passing a bank loan for such ventures too, is possible.

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