There is No Panic in The New

Business

The real estate developers (RAJUK) are preparing a detailed zoning plan (DAP) for the period 2016-35, which has been the concern of real estate traders for several days. They were saying that if the proposed DAP is implemented, the price of flats will increase several times and the real estate business will fall into crisis.

However, there is nothing to panic about the new DAP assured Housing and Public Works Secretary. Shahid Ullah Khandaker and ABM Amin Ullah Noori, Chairman RAJUK. They said the government would not do anything that would harm the traders. They made the assurance at the inaugural function of the five-day real estate and housing association of Bangladesh (REHAB) at the Bangabandhu International Conference Center in the capital’s Sher-e-Bangla Nagar on Thursday. At the beginning of the program, REHAB President Alamgir Shamsul Alamin and three other leaders of the organization expressed concern over the proposed DAP.

Commerce Minister Tipu Munshi, who was the chief guest at the event, urged real estate traders to be vigilant so that buyers are not deceived while buying flats and plots. He said, “Sometimes I hear a couple of things, some people are not getting flat-plots even with money.” They are being harmed, they are being deceived. That should not happen. People often sell everything and pay for a dream home somewhere.

Rehab President Alamgir Shamsul Alamin said, “We are not against DAP. However, do not dap so that the real estate business is closed. He called for keeping in mind the housing sector, common people and realities in the formulation of DAP.

FBCCI President. Jasim Uddin said if any law is made for the private sector, they have to be involved. Otherwise, it is not possible to implement the law.

RAJUK chairman ABM Amin Ullah Noori said there was nothing to panic about DAP. The government will not do any work that harms your business.

On the other hand, the Secretary of the Ministry of Housing and Public Works. Shahid Ullah Khandaker said that planned housing should be done by protecting the environment. However, there is no reason to fear or doubt about DAP. The matter will be resolved very soon.

This year’s fair has 220 stalls of housing companies as well as banks and financial institutions and construction materials. The fair will continue till next Monday.

At the fair, the Amin Mohammad Foundation has brought for sale more than 1,000 flats, duplex and hotel suites of 36 housing projects and 2.5 million square feet of commercial space. The size of flats in their housing projects in Dhanmondi, Gulshan, Banani, Tejgaon, Uttara, Niketan, Magbazar, Siddheswari, Motijheel, Paltan, Khilgaon and Nasirabad areas of Chittagong is 1,100 to 4,000 sq ft. The price per square foot is 5 thousand to 20 thousand rupees. The price of duplex on 3, 5 and 10 katha land along Dhaka-Mawa highway is between two and a half crore to 5 crore rupees.

Mohammad Saifur Rahman, marketing and sales manager of the company, said they aim to sell flats and commercial space worth Tk 15-20 crore at this year’s fair.

The Navana Real Estate Fair has brought about 300 flats from 60 projects for sale. They have four flats of 1,326 to 2,200 sq ft in a condominium in Mirpur and one in Mohammadpur. The price per square foot is 7-8 thousand rupees. The size of flats in Gulshan, Dhanmondi, Banani, Eskaton, Uttara, Old Dhaka housing projects is 1,500–5,300 square feet. The price per square foot is 6 thousand to 26 thousand rupees.

Mohammad Zakir Hossain, senior assistant general manager of sales, said, “We are targeting middle-class buyers with housing projects. We hope to get good response from buyers at the fair.

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