Yeah I know you are wondering what is the validity on ccTLD with SEO or ccTLD SEO. According to latest tweet by Google Webmaster Trend trend analyst John Mueller google taking signals from ccTLD and search console geo settings.
So if you need to target your visitors that located in Sri Lanka the best possible way is to get .lk ccTLD and also fix geo setting on search console.
For geotargeting we use mostly the ccTLD or search console setting, so place the server where it works best for you.
— John ☆.o(≧▽≦)o.☆ (@JohnMu) July 7, 2017
According to this statement you don’t need to consider server location is no longer. Google might came to this kind of decision because of the evolution of cloud computing there is no point of considering server location and ip.
image credit : liamcurley.co.uk