Sri Lankan government expands new digital land registry islandwide to speed up property registration process
The government of Sri Lanka has reportedly made arrangements to expand its new digital land registry islandwide in order to speed up property registration, which in turn would make the country more attractive for investors.
The government has stated that it would also help improve the country’s position in the Ease of Doing Business index.
The Government Information Department has stated that the Cabinet of Ministers had this week approved a proposal by Sri Lanka’s Minister of Development Strategies and International Trade, Malik Samarawickrama and Sri Lanka’s Minister of Home Affairs Vajira Abeywardena to secure funds to implement this project.
A statement issued by the Department noted that the eLand Registry will speed up land registration, reducing the number of days taken to register a property to five from 51 and the number of procedures to two from nine.
Accordingly, the digital registry is expected to be operational in the Western and southern provinces by end-2018 and elsewhere later.
OSL take:
The expansion of the digital land registry to cover the entire island would improve the country’s ease of doing business environment. This in turn would help attract foreign businesses/investors to Sri Lanka since they would be encouraged by the ease of starting up a business venture in the island nation. The Sri Lankan government has promised to further improve the ease of doing business environment in the country.
| Article Code : | VBS/AT/17092018/Z_7 |