Even though all sectors of business and commerce in the COVID-19 period have been affected, Businessmen in the Real Estate Sector are hoping that they will be able to recover from the catastrophe. In the first eight months of last year, the sales of real estate companies in Bangladesh have increased by 15 to 20 per cent over the same period this year. The flat registration fee was slightly reduced last year by the Government.
Besides, sales of Plots and Apartments (Both new and used) have also increased. However, the prices of construction materials have gone up during this period. In the budget, the government provides some opportunities for investment in the housing sector of Bangladesh. Bank loan interest rates have also been reduced. Expatriates are also investing in this sector. Overall, Flat sale in various locations in Dhaka and other major cities of the country have increased.
REHAB President Alamgir Shamsul Alamin Kajal said the real estate sector of Bangladesh will be boosted in COVID-19 period. Not just this sector, there will have a positive impact on the entire economy of the country. As there are investment opportunities in the current situation, a lot of money will be added to our economy.
The
President of REHAB also said that the activities of construction related
sub-sectors including rod, cement, brick and sand, which are involved in the
recovery of the housing sector, will increase. This will increase the revenue
collection of the government.
Previous
flat registration fees in Bangladesh:
- 4 percent gain tax
- 3 percent stamp fees
- 2 percent registration fees
- 2 percent local government tax and
- 3 percent value added tax (VAT)
Present
flat registration fee in Bangladesh:
- 4 percent gain tax (same as before)
- 1.5 percent stamp fees
- 1 percent registration fees
- 1.5 percent local government tax and
- 2 percent value added tax (upto 1,600 square feet)
Now
the demand for commercial flats and apartments has increased in the following
area inside Dhaka city:
- Gulshan
- Banani
- Baridhara
- Motijheel
- Dilkusha
Besides,
demand for residential flats has increased in Dhaka:
- Dhanmondi
- Mohakhali
- Lalmatia Housing Society
- Kalabagan
- Uttara Model Town
- Bashundhara Residential Area
- Karwan Bazar
- Vijaynagar
- Nikunja
- Wari
- Segunbagicha
Demand
for flats in Chittagong / Chattogram:
- Khulshi
- Agrabad
- Nasirabad
Demand of commercial, residential and studio flats / apartments in other major cities such as Sylhet, Cumilla, Feni, Noakhali, Coxsbazar, Rajshahi, Narayanganj, Gazipur, Mymensingh etc are also increasing day by day.
Some
real estate company owners are saying that the price of construction materials
such as Rod and Cement are also increasing. As a result, they are a little
scared.
Home
loans are announced for government employees at 5 percent interest arate. It
inspires hope among real estate businessmen. The annual market of the real
estate companies in Bangladesh / housing sector in the country is now around Tk
60,000 crore. The annual growth in this sector is 15-17 percent. The annual
demand is 1 lac 20 thousand flats.
Thanks,
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