27/02/2026
Based on current market trends and the specific details provided, the estimated value for the 20-perch, square, flat land with an old house at 9/3 Jayanthi Mawatha, Vijithapura, Pelawatte, is between Rs. 5.75 million and Rs. 6.25 million per perch, as of late 2025.
This puts the total value of the land at Rs. 115 million to Rs. 125 million.
Key factors influencing this valuation
Prime location: The property's position as the third block from Parliament Road is a significant asset. It offers both the convenience of being near the main road and the quieter, more private setting of a residential street.
Highly desirable characteristics: The 20-perch, square-shaped, flat land is ideal for building a large, modern home. The 60-foot front elevation and access via a 20-foot road further enhance its appeal.
Clear deeds and ownership: The presence of clear deeds from the first owner is a major value-add, as it guarantees a smooth transaction and eliminates potential legal risks for the buyer.
Proximity to landmarks: Being in close proximity to the Pelawatte junction and near the Education Department, Great Wall Restaurant, and Pizza Hut places it in a highly developed and sought-after commercial and residential hub.
Strong market performance: The Colombo residential land market, including Pelawatte, has experienced substantial value growth recently. The Central Bank of Sri Lanka reported that residential land values in Colombo increased by 14.4% in the first half of 2025.
Comparable market data:
Jayanthi Mawatha: A recent listing of a 26.23-perch plot on Jayanthi Mawatha facing a 20-foot road was priced at Rs. 5.5 million per perch. Your property's closer proximity to Parliament Road and ideal dimensions justify a premium.
Commercial land on Parliament Road: For comparison, commercial land with direct frontage on Parliament Road was priced as high as Rs. 7.8 million per perch.
Near Parliament Road: An 8.5-perch residential land plot only 200m from the main road was listed at Rs. 4.2 million per perch.
Near Diyawannawa Lake: A 20-perch square-shaped land facing Diyawannawa Lake was listed for Rs. 5 million per perch.
The presence of the old house is not a significant factor in the valuation, as the land is being sold for its potential. The value of the house is often negligible in such a high-value real estate transaction, as buyers are likely to demolish and redevelop.
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