HDC warns action against those who violate Veshifahi flat agreement

Housing Development Corporation (HDC) has warned to take action against those who violate the agreements for the 1000 Veshifahi flats sold this year.

HDC, the government’s primary company tasked with the development of Hulhumale’ said that some owners of the newly-sold residences have leased their properties to third parties before completing their payments to the corporation, a clear violation of their agreement.

Advertisements have recently been posted on websites looking to lease newly sold Veshifahi properties.

In a statement by HDC, the corporation stated that Article 12 (f) of their proprietor's agreement for the Vehifashi properties prohibits owners from leasing, selling, signing an agreement to lease or sell their property, before completing the payment in full, owed to the corporation.

HDC said that they will take action against all parties who violate their agreement and said that they will not be responsible for losses incurred to the proprietor or tenants, as a consequence of pursuing actions.