In a recent announcement on Wednesday, the Ministry revealed the rental details for flats under the Gedhoruveriya housing scheme, shedding light on the terms for prospective tenants.
For those opting for a 3-bedroom flat, the monthly rent is set at MVR 7,000, with an additional maintenance fee of MVR 1,000 per month. This brings the total monthly obligation to MVR 8,000 for rent and maintenance combined. Similarly, individuals interested in the 2-bedroom flats will incur a monthly rent of MVR 5,000, with an additional maintenance fee of MVR 1,000, resulting in a total monthly commitment of MVR 6,000.
The ministry emphasized that the rent is expected to commence three months from the handover date of the flat. Furthermore, the total repayment period or rent payment duration has been structured over a span of 25 years, offering a feasible and extended timeframe for tenants to manage their financial obligations.
