Housing Ministry to lower the down payments on the Hulhumalé flats

The Housing Ministry is discussing ways to lower the down payments on the Hulhumalé flats, even by stopping some other projects being carried out by the Government, the Ministry has said.
State Minister Aslam Shakir said on Wednesday that they were trying everything to make it affordable for those who had won the new flats and to reduce the down payment.
“We are discussing what can be done about it with the Finance Ministry,” he said. “Even if we have to stop some Government projects in order to make it so, we are ready to do it. We are trying to waive the down payment altogether or give them subsidies. However I can’t say what will be decided yet.”
He said that the biggest obstacle for reducing the down payment was difficulties in getting funds.
The period given for the new would-be tenants of the Hulhumalé flats is two weeks. If they fail to make the payment then the flats will not be handed over to them. A total of 488 flats are available to the public from the 504 available at the building.

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