Commerce Minister Tipu Munshi has asked the Real Estate and Housing Association of Bangladesh (REHAB) to ensure that customers are not cheated in property deals.
"Some buyers have complained their flats were not handed over to them even after they paid for them. No one should be cheated. People spend their savings for a home. All REHAB members should take care so no one becomes a victim of fraud," said the minister while inaugurating the five-day REHAB Fair 2021 at the Bangabandhu International Conference Centre in the capital on Thursday.
The minister said there is a pressure on Dhaka, so real estate developers have to think about housing projects outside Dhaka.
He also expressed hope that all issues including those related to the Detailed Area Plan (DAP) will be resolved through discussions among stakeholders.
The Rajdhani Unnayan Kartripakkha (Rajuk) has prepared a draft of the Detailed Area Plan (2016-2035) based on which the Dhaka Building Construction Rules-2021 are being formed.
At the event, Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) President, Md Jashim Uddin, expressed his dissatisfaction with Rajuk not consulting business leaders before drafting the proposed DAP.
He said, "The DAP is being implemented but unfortunately the FBCCI has not been called into a discussion of the matter. One must remember the government is working to facilitate trades. So,it is difficult to implement any decision keeping traders in the dark."
Responding to criticism concerning the DAP, Rajuk Chairman ABM Amin Ullah Nuri said REHAB does not need to worry about it as it will be implemented only after consulting all stakeholders, including businesspersons.
Assuring business leaders, Housing and Public Works Secretary Md Shahid Ullah Khandaker said the government will not do anything to harm the business community.
REHAB President Alamgir Shamsul Alamin said the fair would play an important role in connecting REHAB members with buyers, who can find all information under one roof here.
Expressing concern with the implementation of the proposed DAP, he said traders were in a state of panic regarding the matter.
Mohammad Shohel Rana, senior vice president (finance) of REHAB, said if the proposed DAP is implemented, real estate businesses will just "shut down."
He also urged the commerce minister to curb the price of rods and cement. If prices do not go down, businesses will not be able to survive.
REHAB First Vice-President Kamal Mahmud also spoke at the inauguration ceremony.
Around 150 housing companies are participating in the REHAB fair with 220 stalls. 15 construction materials companies and 30 banks and financial institutions also participated in the fair that will remain open from 10am to 9pm till 27 December.
The price of a single-entry ticket is Tk50, and a multiple entry ticket is Tk100, with which one can enter the fair five times. A raffle draw will be held every day with the entry tickets.