Housing Development Corporation (HDC) has announced that starting in December, it will begin charging rent on flats built under the Hiyaa Housing Project in Hulhumale Phase II.
In July, HDC began signing lease agreements between Hiyaa unit tenants. It approved a three-month rent moratorium, which was supposed to expire at the end of August, for the units’ finishing work.
Suhail Ahmed, Managing Director of HDC, told a local news outlet on Sunday that there had been some delays in providing vital services to the Hiyaa units, particularly electrical connection. He added that the Hiyaa units’ electricity hookups will be completed on August 17.
Furthermore, Suhail stated that HDC has opted to count the three-month moratorium period beginning September 1.
According to him, HDC would continue to grant clearance for tenant-requested unit alterations if the proposed changes are judged reasonable.
A unit’s monthly rent is set at MVR 7,500, and tenants must also pay a monthly maintenance charge of MVR 1,000, bringing the total monthly cost of a unit to MVR 8,500. Tenants will be required to make monthly payments for a period of 25 years before being granted ownership of the flats.