Housing ministry has reduced the price of the lands plots for sale in prominent areas of the capital, and reopened bidding on Wednesday.
Housing ministry said they announced the sale of 19 lands plots for sale in Male’, however they didn't receive much support during the bidding period. Hence, the plots have been reopened for bidding at lowered prices, ministry said.
Housing ministry announced the sale of the plots during August, at MVR 15,000 per square feet. However the price has now been lowered to MVR 12, 000 per square feet. The original rate would have earned the government around MVR 792 million in land sales.
The plots to be sold include the now government owned three plots of Maafannu Dhandaheluge - lands from Maafannuaa-ge in front of Supreme Court, six plots from the now deserted junkyard at Boduthakurufaanu Magu, and ten plots from STO Ready Mix manufacturing block situated west of Villa College QI campus.