New housing scheme category announced for previous allottees

The Ministry of Housing, Land and Urban Development has announced a new category under the Binveriya Special Scheme Policy for individuals who choose to surrender previously allocated flats or land plots.

The Ministry said applications under the new category will open next month.

An amendment issued on Wednesday added the new category to the policy. Following the revision, the scheme now has three categories.

Category 1 covers individuals who received land plots through joint applications under the Binveriya Scheme.

Category 2 covers individuals who were previously ineligible because they had already received a flat under a government social housing programme.

Category 3 covers individuals seeking flats in exchange for surrendering land plots allocated under the Binveriya Scheme, as well as those who submitted joint applications seeking separate land plots or flats after giving up their current allocations.

According to the updated policy, people who received land or flats under the previous administration’s Binveriya Scheme, either individually or jointly, may apply under the new category.

Applicants must formally agree to surrender their existing allocations and submit new applications individually.

Under the policy, land plots will be allocated from Rasmalé, while flats will be provided within the Greater Malé Region.

Flats will be available through two ownership models: full upfront payment under an Affordable Home Ownership model, or a Rent-to-Own model under which ownership is transferred through monthly instalments.

Applicants for the Rent-to-Own option must have a monthly income not exceeding MVR 60,000.

Where housing was previously awarded jointly, all parties must agree to surrender the original plot or flat and file separate applications. If all parties do not agree, the new application will be cancelled.

The Ministry said applications under this category will open on the 10th of next month, with a submission deadline of 31 May.