The New Nation - Internet Edition

Association of Bangladesh (Rehab) is going to formulate 'a code of conduct' soon to streamline the management of private sector housing business, according to a press report. The Rehab initiative comes at a time when the government has almost finalised a law titled 'Real Estate Management Ordinance' to streamline the housing business dogged by fraud allegations. The executive committee of the association finalised the draft code of conduct at a recent meeting with the expectation of giving it immediate effect. Rehab had planned the code of conduct, as it could not punish its erring members in absence of proper guidelines.

As reported, any member of the association would lose membership if he

breached the code of conduct and the government should play its role in ensuring its implementation. The government should insert a provision into its proposed real estate management Ordinance to maintain checks and balance in the housing sector and make the inclusion of each developer in the association 'compulsory'. Now, out of over 560 developers, 361 are registered with Rehab. As reported the association can't take responsibility of the wrongdoings of those who are not its members.

At a recent meeting, urban development experts, academics, civil society

representatives, government officials as well as victims underscored the need for formulating a code of conduct for the real estate association so that the victims could lodge their complaints with the association in case of breaching charters signed between the developers and buyers. Allegations of land grabbing, breach of contract and failure in flat or plot handover are common against many of the real estate and housing companies. A number of buyers sought intervention of Rehab for long so that the contracts signed are honoured but in vain.