Addu City flats: arrangements made for down-payment to be paid in installments
Residents must pay a down-payment of MVR 19,000
Addu city flats
Addu city council mayor, Abdulla Sodhiq, has announced that arrangements have been made to pay the down-payment of the Addu city flats in installments.
While speaking to RaajjeMV, Sodhiq stated that the down-payment of MVR 19,000 can be split into two months, coming up to MVR 9,500 in the first 30 days and the other MVR 9,500 in the next 30 days.
The Addu city council has been working on signing agreements with the recipients of the Addu City flats since the 13th of October.
According to Sodhiq, there are only 90 more agreements left pending signatures and work on those agreements will begin on Sunday. He further added that the apartments will be ready to be occupied by the end of the month.
The flats were built under former President Mohamed Nasheed's “Gedhoruverikamuge” programme.
While 268 flats were to be built in Hithadhoo and 42 in Hulhudhoo, only 238 flats from Hithadhoo and 24 flats from Hulhudhoo have been completed under this project. These flats consist of three-bedroom apartments.
Residents must pay a down-payment of MVR 19,000 and a monthly rent of MVR 3,550 over 20 years, including maintenance and insurance fees.
Though the construction of this project began in 2013, it was completed in 2018.
