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| Sunday, 30 January 2005 |
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| News Business Features Editorial
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Houses for well-needed executive by L. S. A. Wedaarachchi Real Estate development and construction of luxury and semi-luxury houses is now a lucrative business, meeting the urgent and rising need for living and office space among senior managers and executives for living in comfort and style. Senior managers and executives in the private sector drawing over Rs. One hundred and fifty thousand (Rs. 150,000) per month, consider investing in modern luxury houses with the latest comforts and conveniences - a sound, sensible and very wise investment in or near the commercial capital of Colombo. Very liberal tax concessions are provided for potential house builders whether PAYE tax payers such as private sector senior executives or others. Edirisinghe Trust Investment limited, a member of EAP Consolidated, has a ready market for six luxury houses out of the sixteen 'Regency Royale' luxury homes project at Kiribathgoda, the very first day, the advertisement of the project appeared last Sunday. The homes designed with the most modern state-of-the-art facilities the best in convenience and comfort, the latest and best in executive-style homes are priced from Rs. 6.2 million to Rs. 8.6 million. 'Regency Royale' homes are planned in four innovative styles for the clients to make their choice of house they want in a cool, calm and eco-friendly atmosphere - half a kilometre away from Kiribathgoda. According to a spokesmen of the ETI Homes, Edirisinghe Trust Investment limited, each 1450 square foot residence has three bed rooms with attached baths both upstairs and on the ground floor. Kitchen with pantry cupboards, dining hall, garage and common bathroom. SLT telephone connections and power-supplied homes are protected with parapet walls, he added. The prospective client must pay Rs. One hundred thousand (Rs. 100,000) for reservation and 30% down payment within a period of one month. Construction work scheduled is to be completed within 6 - 8 months. A housing loan for the balance payment of 70% is expected to be arranged as a bank loan with the ETL facilitating the process with administrative help. Ceylinco Developers Ltd., a real estate development and housing construction company of the prestigious Ceylinco Group, at present handles three millennium city projects at Aturugiriya, Ja-Ela and Karunagala. They expect to launch another Millennium City project at Piliyandala in the near future. At the Aturugiriya millennium city project one of the biggest housing projects in Sri Lanka, 1300 houses have already been sold and 200 more houses are to be sold very soon, according to a spokesmen of CDL. The price range of each millennium city luxury and semi-luxury houses vary from Rs. 2.9 million to Rs. 6.2 million. According to spokesmen of the Ceylinco Development Ltd, 'Millennium City' Project, they have four types of houses, namely 'Olympus', 'Paradis', 'Tulip' and 'Heartland'. Three bedrooms with two bathrooms, living and dining room, pantry with cupboards and a toilet for a domestic help are the main features of the two-storeyed 'Olympus' luxury home he said. The centrally controlled security staff at the entrance have access to all recreational facilities with gym, pool, kiddies pool, tennis court, free telephone, T.V. and internet connections commercial complex with banks, supermarkets, foodcourts, daycare centres are the common facilities arranged by the CDL for their millennium projects. |
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