Housing Development Corporation (HDC) has reclaimed the flats sold to former board members of the company.
Adhadhu has learned that the flats sold to former board members were reclaimed with a promise to provide refunds.
One person who bought a flat said on condition of anonymity that HDC had first sent an email regarding the seizure of the flat and a second email assuring that a refund would be provided over three months.
"The first mail said the flat would be confiscated, and mail sent later said a refund would be given in three months," the source stated.
The flats sold to former HDC board members were among the flats that remained unsold out of 34 units that were opened for sale in 2022 under the end-user finance model to ensure housing for its employees.
The housing units are given to HDC at a cheaper price by private developers instead of paying for the land. The HDC gets the money for the land by selling the flats.
The sale of the flats, during the former administration, faced criticism, with some people accusing the company of "handing out flats to senior company officials."
However, HDC, which was operating as Urbanco, denied the allegations and issued a statement saying that the flats were sold within regulations.
