DhakaTribune
Tuesday April 24, 2018 01:42 PM

Realtors urge government to reduce flat registration fees

Realtors urge government to reduce flat registration fees
Commerce Minister Tofail Ahmed inaugurates the Estate and Housing Association of Bangladesh (REHAB) fair at Bangabandhu International Conference Centre in Dhaka on December 21, 2017Focus Bangla

'If the registration fee for buying flats is reduced to an affordable rate, the common people will be encouraged to invest more in housing projects'

Leaders of the Real Estate and Housing Association of Bangladesh (REHAB) have urged the government to reduce registration fees for flats, in order to bring the prices within reach of the average consumer.

They also demanded the provision of single digit, long term credit facilities with flexible conditions for middle income people, so that flats may be bought on credit.

The leaders from REHAB made the demands at the inauguration of the five-day-long REHAB Fair, to be held from December 21-25 at Bangabandhu International Conference Centre in Dhaka.

The distribution of Tk5,000 crore in the housing sector and the implementation of low interest rates by private banks were also among recommendations to increase investment in housing projects.

The inaugural ceremony was moderated by REHAB acting president Nurun Nabi Chowdhury Shaon.

Commerce Minister Tofail Ahmed and State Minister for Power, Energy and Mineral Resources Nasrul Hamid were also present as chief guest and special guest respectively.

“If the registration fee for buying flats is reduced to an affordable rate, the common people will be encouraged to invest more in housing projects” said Nurun Nabi Chowdhury Shaon.

Furthermore, Minister Tofail Ahmed pledged to arrange a coordinated meeting between REHAB and the ministries concerned to introduce a comprehensive plan of action for housing projects.

In addition, REHAB acting president Nurun Nabi Chowdhury praised the government’s initiative to cut down the commercial rate for power supply in the construction sector.

REHAB commenced its journey in 1991 with only 11 members, but has now grown to include 1,191 developers. The association is the only trade organization for real estate developers in Bangladesh.

As a private enterprise, REHAB has already contributed 15% to Bangladesh’s economy.

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