To stop forgery and harassment of the clients in the Real Estate Sector, Government of Bangladesh is going to enact Bangladesh Real Estate Law 2008 with provision of Compensation or Penalty and/ or cancellation of license. Secretary, Ministry of Housing and Public Works informed that a draft law is already prepared and discussion on this primary draft held in the ministry on March 3, 2008. He also informed that after finalizing the draft in the ministerial meeting on March 10, 2008 it would be presented in the meeting of the Advisory Council of Bangladesh.
This law enforces Real Estate concerns of Bangladesh must have to be registered; only the registered concerns will be allowed to do real estate business in Bangladesh. It will be easier for the govt. to take stern action against the real estate concerns if complaint against any of them lodged.
The Secretary told the newsmen that by enacting this law discipline in Bangladesh Real Estate Sector would revive; at present there is no discipline in this sector.
