Real state business faces setback for lack of proper rules

January 30, 2009

Illegal land grabbing by developers continues
Real state business faces setback for lack of proper rules
Staff Correspondent
Real Estate and Housing business continues to face severe setback in absence of proper guidelines in this sector and mistaken plans of the Ministry of Public Works and Housing as well as RAJUK.
To The Bangladesh Today, REHAB President Tanveerul Haque Probal said “There is no initiative to ensuring necessary facilities for landowners and buyers of apartments to protect this business. So, the government needs to monitor the real estate sector, by establishing a monitoring cell and enact new laws providing for urbanisation in a planned way. In absence of proper rules and regulations, thousands of complaints from the buyers are regularly being lodged against developers and vice versa without any action”
He said the real estate and housing business had faced a critical situation during the immediate past caretaker government. At that time, there was no business in this sector as the prices of construction materials were abnormally high. But soon after forming an elected government, the real estate business is trying rashest again. “We will propose the government for sanctioning loan for the buyers and developers as per their needs within a short time,” Tanveerul Haque Probal said.
About possible sale this year, the president said REHAB is expecting to exceed last year’s sale amounting to Tk 200-250 crore.
Replying to a query, he said the developers are facing scarcity of land and suitable location for urbanisation in planned way. “We have already started REHAB fair in Chittagaong on Thursday and the fair in Rajshahi and Sylhet will be arranged within two years to attract buyers and landowners,” the president said.
However he admitted that earlier many real estate companies constructed high-rise apartments violating the approved design in exchange for bribe to the concerned officials. “Most of the real estate companies cheated buyers and landowners and grabbed huge land forcibly from innocent people using muscles power but the situation has changed now. If we get any such allegation, we cancel REHAB membership of the accused developers. We have opened a customer service centre at our association office to receive complains from our clients as well as our customers,” he added.
Despite taking measures by REHAB, some real estate companies with the help of hired armed criminals are still grabbing land illegally from innocent people under the very nose of law enforcing agencies at different parts of the capital. “We are four brothers and two sisters residing at Aftab Nagar area under Badda police station inherited 50 katha from our parents. It was usurped by a group of armed criminals in favour of Eastern Housing Com-pany on Monday. The criminals issued life threat not to raise our voice against them. Soon after the incident, we lodged a case with Badda Police station but the police did not take any step so far. Now we are passing our days in fear,” said Sabuj after being cheated.

Courtesy: thebangladeshtoday.com

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