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HDC announce 74 Hulhumale' plots on bid

Mohamed Rehan
20 August 2022, MVT 12:21
Hulhumale' Phase II; HDC has announced a second wave of land sale for the year-- Photo: Mihaaru
Mohamed Rehan
20 August 2022, MVT 12:21

Housing Development Corporation (HDC) announces next wave of housing plots from Hulhumale' for housing and accommodation.

The corporation on Thursday, August 18 announced 74 plots are now up for bid.

The plots range between 1,095.05 square-feet to 2,588.14 square feet. Though announcement for the plots were published on Wednesday evening, the locations of the plots were not specified.

Other details from the announcement confirm the plots include 22 beach front plots and 52 beach-side plots across various locations in Hulhumale'.

The announcement confirms a limit of one plot per proprietor.

According to HDC, lowest bid price starts at MVR6,500 per square foot for all beach front properties and MVR5,500 per square foot for beach-side properties. Purchasers must deposit a bid-security of MVR 1 million for purchase of plots.

HDC has opened application window effective Sunday, August 21 until September 1, 2022. Bid opening is scheduled for September 11 and 12.

Eligibility criteria of proprietors include;

- Maldivian local aged 18 and above

- Must not possess legal ownership of a land or plot of 600 square-feet and above within Greater Male' region for residency

- Must not possess legal ownership of a land or plot in excess of 600 square-feet from a joint-owned property in Greater Male' region

- Must not have purchased a previous plot from Hulhumale' through a HDC bid

- Must not have purchased a plot based on above condition, and have its legal proprietorship changed

Previously HDC had opened bidding for 60 plots across various locations in Hulhumale', during February 2022. During the said bidding, plots went at over MVR 10,000 per square feet.

HDC reported a gross total of over MVR 1 billion through sale of land.

Meanwhile, state is facing heavy public outcry for its decision to issue plots to Male' registered residents free of charge, this do not include individuals residents originally outside of Male' City who later on re-registered to the city.

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