Excess paid as deposit for FDC flats to be omitted from rent

The government has decided to omit the excess amount paid as the deposit for the flats developed by Fahi Dhiriulhun Corporation (FDC) in Hulhumale’ Phase II under the former administration’s Gedhoruveriya housing scheme from rent payment following the reduction of downpayment and rent for these units.

President Muizzu announced a reduction in the rent and downpayment for FDC flats during a meeting with residents of Hulhumale' Phase II on Thursday evening.  

The reduced rent and downpayment are as follows:

• Three‑bedroom apartments: Monthly rent reduced from MVR 10,500 to MVR 10,000; advance payment reduced from MVR 25,000 to MVR 8,000.  
• Two‑bedroom apartments: Monthly rent reduced from MVR 7,000 to MVR 6,000; advance payment reduced to one month’s rent

Housing Ministry, on Friday night, said if the deposit has already been, the excess amount will be omitted from the rent due in upcoming months.

The rent and downpayment of FDC flats has been reduced following backlash from recipients for being too high.