This land listing for **Vijaya Road, Kolonnawa (Ref: AA 950)** is well-positioned for potential buyers, given the current market climate in the Colombo suburbs.
### Property Overview
✓ Extent:** 6.15 Perches
✓ Road Access:** 20-foot road (Road facing)
✓ Accessibility:** 550m to IDH Road and 550m to Gajaba Road
✓ Asking Price:** LKR 170 Lakhs (LKR 17 Million) - *Negotiable*
✓ Status:** Clear documents
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### Market Context (July 2026)
As of mid-2026, the real estate market in Colombo’s suburban belt is characterized by a "flight to fundamentals." Here is how this listing compares to current trends:
✓ Pricing:** At LKR 17 million for 6.15 perches, the price works out to approximately **LKR 2.72 million per perch**. This aligns well with general suburban price ranges for well-connected, residential land in the Colombo periphery, which typically fall between LKR 1.5M and LKR 5M per perch depending on the exact proximity to main urban hubs.
* **Investment Appeal:** Kolonnawa remains a high-demand area for residential buyers due to its relative affordability compared to central Colombo and its decent connectivity to major roads like the IDH and Gajaba roads.
* **Buyer Sentiment:** Current market trends show that buyers are prioritize **clear documentation** and **road access** (the 20-foot road width is a significant advantage here) over speculative growth.
### Recommendations for Inquiries
Given that the price is noted as negotiable and specified by the owner:
1. **Inspection:** Since the market is currently favoring "ready-to-move" or "easy-to-build" land, verify the condition of the soil and the availability of utility connections (water, electricity, and drainage) during your site visit.
2. **Due Diligence:** While the ad states the documents are clear, always have your lawyer perform a title search (survey plan and deed verification) before committing to a down payment.
3. **Negotiation:** The "negotiable" tag suggests the owner may be open to reasonable offers. Research similar sized plots on Vijaya Road to ensure your offer reflects current local market value.
