The Ministry of Construction, Housing and Infrastructure has announced that residents who have already paid higher advance payments for the Fahi Dhiriulhun Corporation (FDC) 4,000 flats will have the excess amount adjusted against their monthly rent.

The decision follows an announcement by President Dr Mohamed Muizzu, stating that both rent and advance payment rates for the flats would be reduced in response to residents’ concerns over affordability.

Under the revised pricing structure, the monthly rent for three-bedroom FDC flats has been reduced from MVR 10,500 to MVR 10,000, while the advance payment has been lowered from MVR 25,000 to MVR 8,000. For two-bedroom flats, monthly rent has been reduced from MVR 7,000 to MVR 6,000, and the advance payment cut from MVR 15,000 to MVR 6,000.

The Housing Ministry said that residents who have already paid the previous advance amounts will have the excess deducted from their monthly rent going forward.