It has been announced that 94 car parking spaces at the Vinares flats will be sold through a bidding process.

An announcement by the Housing Development Corporation (HDC) today stated that the starting bid will be MVR 450,000, and successful bidders will have a 14-day period to make the full payment.

HDC also stated that a bid security of MVR 30,000 must be paid to participate in the auction.

Parties interested in purchasing one of the 94 car parking spaces at the Vinares flats are requested by HDC to register for the auction from the 20th of this month until the 4th of next month.

The bidding guidelines state that each individual can submit only one form to apply for a car parking space.

According to the guidelines, the car parking space will be designated as a space sold under the Vinares flat purchase agreement. Therefore, if the flat is sold or its ownership is transferred to another person, the purchased parking space must be relinquished along with the flat.

Furthermore, the announcement specifies that individuals will only be given the opportunity to purchase a parking space located within the same tower as their flat. The bidder must be the main applicant who signed the flat purchase agreement and must not have any outstanding payments due to HDC as of the end of last month.