Tata flat owners asked to produce loan acceptance letter

Housing Development Corporation (HDC) has asked for loan acceptance letters from those selected for loans to purchase the flats built by the Indian company – Tata – in former Arabiyya School grounds and “Gaa Koshi”.

HDC has sent letters to the owners of the flats, asking that they submit loan acceptance letters for loans taken to meet the payment on the flats from banks or other financial institutions by 3 pm, January 26.

It said that proceeding related to signing of the agreement will commence after that.

HDC said that the flats would be handed over to the owners after they made the down payment and signed a tripartite agreement.

It said that those who wished to make the full payment also needed to contact the corporation before 3 pm, January 26 to make the final arrangements for the handover.

The apartment complex built in former Arabiyya School grounds has been named “Male’ Grand” and the apartment complex built in “Gaa Koshi” has been named “Male’ Square”.

Male’ Grand has 90 flats and Male’ Square has 198 flats.

The total payment required for the apartments are MVR 2 million. And special loan facilities have been arranged to make the payment.