The Ministry of Housing has decided to deduct the excess payments made by individuals who previously paid a higher security deposit from their upcoming rent, following the reduction in rent and security deposit for the 4,000 flats constructed by Fahi Dhiriulhun Corporation (FDC) in Hulhumalé Phase Two.

In a post on X tonight, the Ministry of Housing stated that for those who had previously paid a security deposit of MVR 15,000 for two-bedroom apartments, MVR 6,000 will be retained as the security deposit, and the remaining amount will be adjusted against their rent for subsequent months.

Similarly, for those who paid a security deposit of MVR 25,000 for three-bedroom apartments, MVR 8,500 will be held as the security deposit, with the residual amount to be adjusted against their rent for future months, the Ministry of Housing further clarified.

Housing Minister Dr. Abdulla Muththalib, in a post on X tonight, announced the revised rent and security deposit amounts for the flats.

Minister Muththalib stated that the current monthly rent for a two-bedroom apartment is MVR 6,000, with a maintenance fee of MVR 1,000, bringing the total monthly payment to MVR 7,000. He added that the security deposit for two-bedroom apartments is MVR 6,000.

For three-bedroom apartments, the monthly rent is MVR 8,500, and the maintenance fee is MVR 1,500, making the total monthly payment MVR 10,000, the Minister noted. The security deposit for three-bedroom apartments is MVR 8,500.

Under the previously set prices, a two-bedroom apartment required a monthly payment of MVR 8,000, inclusive of rent and maintenance fees, and a security deposit of MVR 15,000.

For a three-bedroom apartment, the previous charges amounted to MVR 11,500 per month, including rent and maintenance fees, along with a security deposit of MVR 25,000.