Housing Development Corporation (HDC) has announced the corporation will begin charging rent on units built under the Hiyaa Housing Project in suburban Hulhumale’ in December.
HDC initiated the signing of lease agreements between tenants of the Hiyaa units last July.
The units are being handed over to tenants without finishing work.
HDC previously granted a three-month grace period on rent to allow tenants to complete finishing work before moving in to the units. The grace period had been set to expire at the end of this August.
In an appearance on RaajjeTV on Sunday night, HDC’s Managing Director Suhail Ahmed noted there have been some delays in providing essential services to the Hiyaa units, especially electricity.
He said that permanent electricity connections will be provided to Hiyaa units on August 17.
Suhail said that HDC has decided to count the three-month grace period staring September 1.
“We previously also announced we will grant a three-month grace period on rent to allow tenants to complete finishing work,” said Suhail. “We are therefore looking to begin counting the period on September 1.”
Suhail said HDC will continue to issue permission for modifications to units at the request of tenants if the planned modifications are deemed appropriate.
Tenants continue to express concern over having to take on the burden of doing finishing work on the units themselves, as well as the high rent.
The monthly rent of a unit has been set at MVR 7,500, and tenants are also required to pay a monthly maintenance fee of MVR 1,000 – raising the monthly cost of a unit to MVR 8,500.
Tenants will need to make the monthly payments for 25 years before being granted ownership of the units.