Latest Updates Of Hiyaa Flats From HDC.

The Managing Director at Housing Development Cooperation, Suhail Ahmed informs the public that the monthly rent cannot be decreased further than MVR 7,500 per month as this is the lowest amount that they can set in order to repay the loan HDC has taken in order to build the Hiyaa Flats.

Furthermore, Suhail urged the flat owners who have not yet signed the agreement to finish the signing at the earliest as they cannot extend the grace duration to more than four months. Initially set to collect rent starting from December 2021, the President recently increased one more month to the grace period meaning now the rent will be collected from January 2022 onwards.

In addition, Suhail expressed HDC’s plan to hand over the hiyaa flat maintenance management to the flat owners unions.