Housing Development Corporation (HDC) has announced affordable housing loan scheme for the lot winners of TATA apartment complexes situated at former "Gaakoshi" and "Arabiya School", who have been unsuccessful in producing payment.
According to a statement released by HDC, Maldives Monetary Authority (MMA) along with banks have initiated the "affordable housing loan scheme" to assist in financing tenants who have faced shortcomings in producing funds to pay for the apartments at the "Apex Reality" apartments.
Winning tenants, who require the loan will have to fill a "General Information Application Form" and submit and arrange loans before October 12. HDC plans to evaluate tenants, who fit to criteria for successful loan aid.
HDC had also advised to inform the authority of loan arrangements of tenants before October 15. Should a tenant lose the window of arranging loan payment before due, they lose the chance of acquiring an apartment at the TATA complexes.
However, those who fall out from arranging loan payment for TATA apartments would be automatically directed to the "Priority List" - who will be subjected to receive apartments at Hulhumale' under affordable sheltering project.
Meanwhile, MMA had announced they will be opening loan procurement opportunities for the public interested to purchase housing or real estate under an affordable bar. The central bank will be inaugurating the scheme next month.
