The New Nation - Internet Edition

Staff Reporter

The government will introduce real estate ordinance within a month to protect the right of beneficiaries in this sector, Housing and Public Affairs Secretary ASM Rasidul Hai said yesterday.

Addressing a seminar on "The Real Problems of the Real-Estate Sector" at Jatiya Press Club, he said the real estate is now contributing 12 to 15 per cent to the country's GDP. Besides, around 25 lakh people are directly involved in this sector, he added

He pointed out that cheating of some real estate companies has tarnished its image.

The Bangladesh Journalists' Forum for Consumers and Investors (BJFCI) and Bazaar Information and Development (BID) jointly organised the seminar. Fareq Ahmed, President of BJFCI, presided over it.

He accused the real estate companies of failing to hand over the flats to the clients within schedule time frame as well as charging additional cash beyond contract.

He called upon the leaders of Real Estate and Housing Association of Bangladesh (REHAB) to identify the wrong doers and bring them to book for the sake of development of this important sector.

He also urged the real estate owners to expand their projects outside the Dhaka and Chittagong cities to ease the housing problem .

Eng Tanvirul Hoq Probal, President of REHAB, told the seminar that out of total 661 real estate companies across the country, 361 are under REHAB. The non-REHAB real estate companies are mostly involved in irregularities and malpractices, according to him.

He was of the view that introduction of the real estate ordinance in a hurry will create confusion. What we need to overcome the problems of this is a public and private partnership, he added.

He again said that the real estate companies failed to hand over flats to the customers according to scheduule as the government agencies could not provide utility services as per their demand.

Md Abdul Quiyum, Chairman of Housing and Public Affairs, said that the government has taken up housing projects outside the Dhaka and Chittagong cities to expand housing facilities to the citizens.

"We have already acquired 200 acres of land at Narshingdi and also conducting survey at Karanigonj, Gazipur, Manikgonj, Kishoregonj, Comilla and some other areas for this purpose" he informed.

Saiful Islam, Deputy Manager of Amin Developers and Builders Ltd ,said that the developers in this sector have been facing image crisis due to lack of information.

Developers will be able to earn the confidence of the customers if they are transparent and accountable in their activities, he noted.

Iqbal Sobhan Chowdhury, the editor, Bangladesh Observer, said that there is no regulatory body to save the personal lands from the land grabbers in real estate sector. "An integrated policy will be needed urgently to protect the consumers right," he said.

Alamgir Mohiuddin, the Editor of daily Nayadiganta, said the government has failed to ensure the right of the consumers as a regulator and facilitator in this sector. There is no need of framing real estate law if the government fails to implement it, he said.

Zaglul Ahmed Chowdhury, Chief Editor of BSS, said cooperation between public and private sectors will ensure fair price of flats to the bulk of the consumers.

Kamal Uddin Sabuj, General Secretary of Jatiya Press Club, called upon the real estate developers to extend the real estate business outside the city to reduce the pressure of residents in Dhaka city.

MA Matin, a Real Estate Researcher, BID executive editor Shamim Ara Ahmed, Md Enamul Hoq and Anisur Rahman, vice president and General secretary of BJFCI addressed at the seminar.