The government has commenced the collection of security deposits for completed residential flats under the ‘Gedhoruveriyaa’ housing scheme, marking a critical step toward the handover of 4,000 newly built flats in Hulhumalé.
The Fahi Dhiriulhun Corporation (FDC), which oversees the scheme’s implementation, has opened its online portal to facilitate payments. Beneficiaries who have finalised their housing agreements are now being contacted to complete the deposit process. According to FDC officials, the current phase targets flats where construction has reached full completion. FDC also highlighted that the deposit procedure will mirror the accessibility and efficiency of the agreement signing process.
Recent figures released by the corporation show that agreements have been scheduled with 3,088 parties, with 3,032 already signed. FDC has set a goal to complete all 4,000 agreements by the end of September, underscoring the scale and urgency of the undertaking.
The handover of apartment keys is contingent on three conditions: the signing of the agreement, registration of the flat for utility services, and payment of the stipulated security deposit. The government has set deposit amounts at USD 972.76 for two-bedroom flats and USD 1,621.26 for three-bedroom flats. These payments must be made in full, according to FDC, though no specific deadline has been announced.
Adjustments to the scheme’s rental structure have also been introduced. Initially, monthly rents were set at USD 842.78 for three-bedroom units and USD 583.73 for two-bedroom units. A subsequent policy decision introduced subsidies for tenants who make regular payments, reducing monthly rents to USD 583.73 and USD 453.85, respectively. The measure is designed to ease financial pressure on residents and encourage consistent payment behaviour.