Housing Development Financing Corporation (HDFC) has announced today that they are selling a house in Hulhumale' in auction.
Housing Development Financing Corporation (HDFC) has announced today that they are selling a house in Hulhumale' in auction.
HDFC announced the sale of Hulhumale' Plot no. 10718 (Orchid Hiya) building and land plot in auction. The announcement said that this house was mortgaged in a loan they issued to Khadheeja AbduSattar, Ma. Champaamaage and Jameel Usman, Male' Register no. 3290.
Jameel Usman is a former MP who served in the Gemanafushi constituency. He is currently serving as Head of Specialist Projects, Operations at Tree Top Hospital.
The announcement said that Civil Court had given the corporation the authorization to sell this land on September 30.
According to the announcement, the lowest price that can be bid at is MVR 25.7 million. Bidding can be submitted until November 14, on which day the bidding letters will be opened.
HDFC said that auction will be closed when the price remains the same for three consecutive working days. If the winning bid is not paid within 10 days of being announced that the auction is closed, the bid will be cancelled and the property granted to the second highest bidder. If the company decides to, it can also reopen the bidding process, they said.
The announcement said that if the current owners of the property settle the loan within this period, then precedence will be given to them.
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