Jaffna’s first luxury apartment coming up fast!

The construction of Tulasi Mahal, the first luxury apartment in Jaffna, is forging ahead at a steady pace whilst cascading multiple benefits to the local community.

From left: Sanken Skills Development MD Premaratne, Peninsular Properties Director Y. Tahara, Peninsular Properties Director Mahen Weerasekera, Peninsular Properties Chairman R. Asirwatham, Peninsular Properties Director Shevantha De Saram, HNB Senior Manager Gowri Arjuna, and Tulasi Mahal Project Manager Bimal Kuruppu

The developer of Tulasi Mahal, Peninsular Property Developers Ltd., a subsidiary of Capitol Developers Ltd., is training 100 local youth in the Jaffna peninsula in masonry, carpentry and bar bending skills.

This sustainability initiative aims to engage local communities in the construction of the first luxury apartment project, so that they too can benefit from economic activity taking place in the region.

Sanken Chairman Mahen Weerasekera said: “We are enthused about the skills training course as it has received an overwhelming response from youth in and around Jaffna, who are forced to source construction labour from other parts of the country due to lack of adequately skilled construction labour in the north. Tulasi Mahal will be able to leverage on this pool of freshly trained masons, carpenters bar benders and tillers in its construction, so that the local communities can also benefit from the project. We are confident that this social responsibility initiative will boost the local workforce and uplift livelihoods by opening up new avenues of employment for the trained youth who will receive a certificate endorsing their skill levels. Tulasi Mahal is a pioneering project and foundation work has already been completed. The construction work is on schedule for completion by October 2013.”

Due to lack of accessibility to Jaffna over the years, the region has not been exposed to modern automated construction methods and this skills training course will bring youth up-to-date with new construction methods being used elsewhere in the island so that they can optimise the use of materials for better results. The intensive skills training course seeks to make the trainees proficient so that they can work on Tulasi Mahal project or other construction sites in the Peninsula.

As the first luxury apartment project in Jaffna, Tulasi Mahal, will be a beacon for other projects in the future as the city of Jaffna opens up to the world. As an incentive to prospective buyers to make a timely purchase decision in this historic project, Tulasi Mahal has reached an agreement with Hatton National Bank’s Shanthi Home Loans to offer prospective buyers  convenient repayment terms.

Prospective buyers will be required to pay only the interest on the amount of the loan disbursed during the first year from now, by which time the construction is scheduled to be completed. It is only after this that will they be required to commence re-payment of capital on the loan granted.

This one-year grace period is an unprecedented offer to those interested in owning an apartment in Tulasi Mahal and prospective buyers are urged to make inquiries with Tulasi Mahal or HNB Shanthi Home Loans to reserve their apartment early in this landmark project and enjoy the many benefits.

Located in the heart of the city, on the A9 Road, adjacent to the Kachcheri, Tulasi Mahal will be a pioneering luxury apartment project in Jaffna, a city that is experiencing rapid economic growth in recent months. Jaffna is fast moving towards regaining its past glory as a business and education hub in the country.  Land prices in Jaffna are rising exponentially and given the high cost of construction, investing in a sound project such as Tulasi Mahal makes for a wise investment decision.

A design-build project by Sanken Construction, and developed by Peninsular Property Developers (Pvt) Ltd., construction of the project commenced with a traditional ground-breaking ceremony and laying of the foundation stone along with all religious observances in July 2012 and is expected to be completed by end October 2013.

The six-storey Tulasi Mahal has been planned as an exclusive 36 unit two bedroom apartment building which will include all the luxury fittings and facilities befitting this one-of-a-kind project.