Govt announces revised rent, deposits for Gedhoruveriya flats
President Mohamed Muizzu announced the decision during a meeting with residents of Hulhumalé Phase II on Thursday.
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The government on Friday announced revised monthly rent and security deposit rates for 4,000 housing units under the Gedhoruveriya scheme launched by the previous administration.
President Mohamed Muizzu announced the decision during a meeting with residents of Hulhumalé Phase II on Thursday. The updated figures were later shared by Minister of Housing Dr Abdulla Muththalib on social media.
The revised rent and security deposit structure for the flats allocated by Fahi Dhiriulhun Corporation (FDC) is as follows:
For three-bedroom flats, the total monthly rent, including maintenance fees, has been set at MVR 10,000, down from MVR 11,500. The security deposit for these units has been reduced to MVR 8,500 from MVR 25,000.
For two-bedroom flats, the total monthly rent, including maintenance fees, has been set at MVR 7,000, reduced from MVR 8,000. The security deposit for these units has been reduced to MVR 6,000 from MVR 15,000.
The initial pricing for the Gedhoruveriya flats was announced on 15 November 2023, during the final week of the previous government. At that time, the monthly rent for three-bedroom flats was set at MVR 7,000, with a maintenance fee of MVR 1,000, bringing the total to MVR 8,000. Two-bedroom flats were priced at MVR 5,000 per month, with an additional MVR 1,000 charged as a maintenance fee, totalling MVR 6,000.
In February, Housing Minister Dr Abdulla Muththalib said the rent structure under the scheme had been revised, stating that the earlier pricing was not suitable.
