NHDA has no housing funds except Sevana

Chaminda PERERA

The National Housing Development Authority (NHDA) yesterday affirmed that there are no Housing or Building Funds registered under the Authority except the Sevana Fund.

According to NHDA General Manager L.S. Palansooriya, the National Housing Development Authority Act does not have such provisions to register a Housing Fund which could accept deposits from the public.

Palansooriya warned the public not to fall prey to certain private companies which accept public deposits by establishing bogus Housing Funds with unprecedented returns for their investments.

He said thousands of people have been taken for a ride by a company stating that it has set up a Building Society Fund registered under the NHDA Act.

“Hundreds of depositors turn up at the NHDA daily seeking their deposited money. These depositors have been instructed by the company that the particular Fund is registered with the NHDA and all their deposits have been transferred to the Authority.

“The people are seeking money from us but we don’t have their money with us, he said.

No organisation or institution other than the NHDA and Sevana Fund are entitled to collect deposits for building houses and depositors of the bogus funds should take legal action against the funds management companies, he said.

The people can deposit their hard earned money in the NHDA and State banks to be used for the building of houses or development of a land.