Gov’t to Omit Excess Deposits Following FDC Flat Rent Adjustments
Government reduces FDC flat rents in Hulhumalé Phase II, refunds excess deposits | Photo: MV+
The government has decided to adjust rent payments for flats developed by Fahi Dhiriulhun Corporation (FDC) in Hulhumale’ Phase II under the former administration’s Gedhoruveriya housing scheme, omitting any excess amount paid as a deposit following a reduction in downpayment and rent for the units.
President Muizzu announced the reductions during a meeting with residents of Hulhumale’ Phase II last Thursday.
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Three‑bedroom apartments will see monthly rent reduced from MVR 10,500 to MVR 10,000, with the advance payment lowered from MVR 25,000 to MVR 8,000. Two‑bedroom apartments will have rent reduced from MVR 7,000 to MVR 6,000, with the advance payment adjusted to the equivalent of one month’s rent.
The Housing Ministry confirmed last night that, for residents who have already paid a higher deposit, the excess amount will be deducted from future rent payments. The decision follows criticism from recipients who had raised concerns over the previously high rent and downpayment rates.
