Bigger demand for lands, buildings in Jaffna

Ramani KANGARAARACHCHI

There is an increasing demand for commercial lands and buildings in Jaffna and there is hardly any land or buildings available in the Municipality areas for rent or sale, Chairman, Chamber of Commerce Jaffna M. Purnachandra told Daily News Business.

He said that the demand increased after the war and it has increased further with the commencement of the Uthuru Wasanthaya.

Earlier, lands in Jaffna were not sold in perches but at present a perch is sold at Rs. 20,000 and above.

In the suburbs lands are still sold in Lacham as it is called which is around Rs. 200,000 and upward.

Land prices in the suburbs are much less than in the city. Commercial buildings are even more expensive in the city and a shop area of 20x60 is sold around Rs. 20 million, he said.

However, there is better potential for setting up of industries rather than trading, he said. The number of employment opportunities has also increased as a large number of people have started various businesses, Purnachandra said.