Forty real estate companies from Bangladesh are taking part in the
three-day REHAB Housing Fair-2012 in New York, starting on Saturday
(Sunday Bangladesh Time).
The fair is being held in the NTV Auditorium at the Bangladeshi-inhabited Astoria area. The State Minister for Housing and Public Works, Abdul Mannan Khan, will inaugurate the fair.
REHAB president and government MP Nasrul Hamid told a press conference at Jackson Heights on Thursday that the prices of flats have increased exponentially because of the rise in prices of building materials.
Therefore, the overall sales of flats and plots have declined by 43 percent, he said.
The REHAB Fair has been held for the past nine years in New York and 15,000 flats and 5,000 plots are sold yearly through REHAB's 12,000 member institutions, Hamid said adding that 15 per cent of the buyers are non-resident Bangladeshis.
However, the number of real estate customers in America is decreasing because of depression, he said.
He further said, "Considering the pace at which the real estate sector is developing, the government support for it is not as extensive. That is why the rules and regulations of this sector are still not established."
"Any company in Dhaka can get a real estate developer's license by paying Tk. 10,000. That is why there is no need for further qualifications. Land prices in Dhaka and its surrounding areas have sky-rocketed because the government does not have a specific policy to deal with them."
In reply to a question, Hamid expressed his dissatisfaction over the functioning of the Rajdhani Unnayan Kartripakkha (RAJUK) and said, "Currently RAJUK has turned into a real estate business, so their main job is being disrupted.
"REHAB members are also not getting the expected services from RAJUK. Where there needs to be around 100 RAJUK officials, there are only six officials present."
He also called for a 'detail area master plan' as necessary for Dhaka's development.
SSB Multiservice Inc is the organising the fair.
The fair is being held in the NTV Auditorium at the Bangladeshi-inhabited Astoria area. The State Minister for Housing and Public Works, Abdul Mannan Khan, will inaugurate the fair.
REHAB president and government MP Nasrul Hamid told a press conference at Jackson Heights on Thursday that the prices of flats have increased exponentially because of the rise in prices of building materials.
Therefore, the overall sales of flats and plots have declined by 43 percent, he said.
The REHAB Fair has been held for the past nine years in New York and 15,000 flats and 5,000 plots are sold yearly through REHAB's 12,000 member institutions, Hamid said adding that 15 per cent of the buyers are non-resident Bangladeshis.
However, the number of real estate customers in America is decreasing because of depression, he said.
He further said, "Considering the pace at which the real estate sector is developing, the government support for it is not as extensive. That is why the rules and regulations of this sector are still not established."
"Any company in Dhaka can get a real estate developer's license by paying Tk. 10,000. That is why there is no need for further qualifications. Land prices in Dhaka and its surrounding areas have sky-rocketed because the government does not have a specific policy to deal with them."
In reply to a question, Hamid expressed his dissatisfaction over the functioning of the Rajdhani Unnayan Kartripakkha (RAJUK) and said, "Currently RAJUK has turned into a real estate business, so their main job is being disrupted.
"REHAB members are also not getting the expected services from RAJUK. Where there needs to be around 100 RAJUK officials, there are only six officials present."
He also called for a 'detail area master plan' as necessary for Dhaka's development.
SSB Multiservice Inc is the organising the fair.
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