Housing Development Corporation (HDC) has revealed the payment plan for recipients of flats awarded under the Hiyaa Public Housing Scheme.
As per the publicized payment plan by HDC, recipients are required to pay MVR 7,500 per month, including MVR 1,000 as a management fee. Recipients are required to complete the full payment within a span of 25 years. However, recipients are now exempt from the monthly payment for the first three months after signing the agreement.
HDC further stated that recipients are not required to provide a down payment, though HDC will allow any recipient to provide the down payment if they wish, and the corporation will subtract the down payment from the total amount, and reduce the monthly payments accordingly.
Furthermore, detailed information, including measurements of the apartments will be made available on HDC’s website and updates will be provided in a timely manner through its Viber channel as well.