January 11, 2016

Mr. Ravindra Hewavitharana ,

Ministry of Public Enterprise Development,
Level 13, World Trade Center,
Colombo 1
Dear Sir,
Please find below the criteria developed for the property lease out for your reference and approval.
PROPERTY LEASE OUT AND RETURN CRITERIA
Criteria No

Type of Lease
Renewal of Lease
Revaluation of the
property

1
Timber valuation
2
3

5
6
7

Valuation for any

other assets on the
land (minerals etc.)
Timber records and
valuation
Clause to protect
the property by the
lessee
Environmental
Valuation
Valuation of the
investment proposal
Approval of the
Chairman and the
Board of Directors a
must.

New Lease

Building lease

Vacate the Property

Selection of land (Un

productive and under
developed lands only may be
selected for alienation or
lease out)
Alienator has to be JEDB on
behalf of the State (To stamp
public property status)
Original deed of the property
(If not available has to be
searched.)
Original plan of the property
(If not available LRC or
Survey Department will be
able to assist.)
If properties acquired under
vesting orders, gazette
notification
Property Valuation report

Original deed of the

property

Comply with condition of lease

agreement

Original plan of the

property

Notification for laps payments

If properties acquired
under vesting orders,
gazette notification
Building Valuation report

Surcharge for the late payment

of lease rental

Timber records and valuation

Valuation of the
investment proposal

Valuation for any other

assets on the land (minerals
etc.)

Approval of the
Chairman and the Board
of Directors a must.

Clause to protect the

property by the lessee
Environmental Valuation

Any premature order to vacate

has to be accompanied with
preparation of inventory by a
representative team of JEDB.
Type of development has to be
decided by in concurrence with
JEDB
Approval of the Chairman and
the Board of Directors a must.
Legal documentation such as
cancellation of lease deeds
Inventory list of the property
and handing over documents.

9
10
11

12

13

14

15

Notification for laps

payments
Surcharge for the
late payment of
lease rental
Legal
documentation

Clause to protect the

property by the lessee
Environmental Valuation

Security deposit or
bank
guarantee/insuranc
e cover
Type of
development has to
be decided by in
concurrence with
JEDB
Lease rental value
is based on total
assets value of the
property including,
land, building,
natural resources
and the investment
proposal.

Approval of the Chairman

and the Board of Directors a
must.

Environmental
impact assessment

16

17

Valuation of the investment

proposal

Legal documentation

Security deposit or bank

guarantee/insurance cover

Type of development has to

be decided by in concurrence
with JEDB
Investment proposal must be
submitted including
environmental impact
assessment
Lease rental value is based
on total assets value of the
property including, land,
building, natural resources
and the investment proposal.

Yours Faithfully,

Prof. Dr. Kennedy D. Gunawardana

Chairman

Legal documentation
Security deposit or bank
guarantee/
insurance cover
Type of development has
to be decided by in
concurrence with JEDB
Lease rental value is
based on total assets
value of the building and
the investment proposal.