Housing Development Corporation (HDC) has decied to cut MVR 4,200 from the rent of Vinares flats today, in accordance with the pledge made by President Dr. Mohamed Muizzu in December.
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(FILE) Vinares flats, on October 8, 2023: the tenants that paid the sale value of the properties up front will also see the benefits of the lowered rent, HDC said -- Photo: Fayaz Moosa / Mihaaru
Lamya Abdulla
2024-02-01 18:54:32
Housing Development Corporation (HDC) has decied to cut MVR 4,200 from the rent of Vinares flats today, in accordance with the pledge made by President Dr. Mohamed Muizzu in December.
In a statement made by HDC, they said interest rates have been lowered from nine percent to six percent, and MVR 4,200 will be cut from the rent value. With this change, the rental value of the flats from Vinares drops between MVR 9,000 -MVR 13,000.
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