Modhumoti Model Town illegal: SC

The Supreme Court on Tuesday upheld a High Court verdict that had declared Modhumoti Model Town illegal, a housing project of Metro Makers and Developers Limited in a flood-flow zone at Aminbazar in Savar.
Metro Makers and Developers Limited, a concern of Bhaia Group, told the court that it had prepared about 3,500 housing plots on 550 acres of land in the project and about 3,000 of the plots had already been handed over.
In February the court completed the hearing in the appeals but did not deliver the verdict then.
The details of the Appellate Division’s verdict were not pronounced in the open court.
Former attorney general Mahmudul Islam, Syeda Rizwana Hasan and Iqbal Kabir represented the BELA, Ajmalul Hossain and Rokanuddn Mahmud defended the Metro Maker Developers and Madhumati while Rafique-ul Haque and Abdur Razzaq appeared for the plot purchasers.
The High Court had declared Modhumoti Model Town housing project illegal, the site of which was Mouza Bila and Baliarpur near Aminbazaar, and pointed out that its location violated certain provisions of the Town Improvement Act 1953 and RAJUK’s master plan.
The authorities have been directed to protect the sub-flood flow zone near Aminbazaar and check any further earth filling by Modhumoti Model Town.
The Modhumoti Model Town housing project has also been directed to refrain from filling earth in any more plots without RAJUK’s permission, said the HC verdict.
It also said that considering the interest of numerous purchasers of plots in the Madhumati Model Town project, the court was not inclined to direct the authorities to re-excavate the plots in the sub-flood flow zone.
According to the BELA, the Modhumoti Model Town project filled up 550 acres of the sub-flood flow zone in defiance of the laws. Metro Makers continued land filling and selling of plots despite RAJUK’s repeated cautionary notices.
Plot buyers of the project are now worried about their fate. BELA Lawyer said it would be known after the full text of the SC verdict had been obtained.

RAJUK sent Banani Plot Scam case to ACC

RAJUK Bhaban

RAJUK only a couple of months ago passed the issue of controversial allotment of 55 housing plots in Banani, Dhaka to influential BNP people to the Anti-Corruption Commission (ACC). Although the Rajdhani Unnayan Kartripakkha (RAJUK) holds the legal authority to cancel allotment of a plot obtained through false declaration, it referred relevant documents to ACC in the first week of April to investigate alleged anomalies following a parliamentary committee query in February this year.
In March 2005, RAJUK floated an open invitation but considered only the powerful ministers, state ministers and lawmakers and politically-loyal businessmen and intellectuals to allot each a 5-katha plot at the 20-bigha housing scheme. It even earth-filled a portion of a nearby lake to create at least seven lakeside plots for “important” persons of the then BNP-Jamaat alliance government. The action raised allegation of politicisation in the allotment process and the demand for cancellation of so-called Banani BNP Palli close to NAM flats.
 In July 2010, RAJUK sent the National Board of Revenue (NBR) the allotment documents for scrutiny of the Halafnama (undertaking) on wealth declaration, as it has no mechanism to verify those. While the NBR has not yet provided any feedback on the authenticity of the wealth declarations. Asked why RAJUK sent the documents to NBR only two years ago and had been silent since 2007, Nurul Huda said perhaps the then officials could explain that. Responding to a query that why Rajuk take halafnama when it cannot check it, he said it was only a safeguard and they only refer those to NBR against which questions were raised. He said they referred the controversial plot documents to ACC as an “additional measure”. Asked how they can annul an anomalous plot allotment when most of the plots by now have been developed with multi-storied residential buildings, Huda said, “It all depends on top-level government decision.”

Following are the former ministers, state ministers and lawmakers who got plot allotment:
Abdul Mannan Bhuiyan, Hafiz Uddin, Tariqul Islam, Abdullah Al Noman, A Matin Chowdhury, Fazlur Rahman Patal, Lutfuzzaman Babar, S Alamgir Kabir, Lutfor Rahman Khan Azad, M Ruhul Kuddus Talukdar, Asadul Habib Dulu, Barkatullah Bulu, Mir Mohammad Nasir Uddin, ANM Ehsanul Haq Milon, Selima Rahman, Rezaul Karim. Akhtar Hamid Siddiqui, Mojibur Rahman Sarwar, Habibul Islam Habib, Md Alauddin, M Naser Rahman, Major (retd) Sayeed Eskander, Shahidul Islam, Moshiur Rahman, Shahidul Alam Talukder, Shajahan Chowdhury, Mojibor Rahman Monzu, Md Hafiz Ibrahim, Nazim Uddin Alam, M Ilias Ali, Fazlul Haq Milon, Moazzem Hossain Alal, Abul Hossain Khan, Abdul Hai, Abul Khayer Bhuiyan, Shahiduddin Chowdhury Annie, Alamgir Haider Khan, Nasiruddin Ahmed Pintu, Salahuddin Ahmed, Kabir Hossain, Nadim Mostafa, Khairul Kabir Khokon, Shamsuddin Ahmed Eshak and Habibul Islam Habib. Imtiaz Uddin Ahmed, son of former president Iajuddin Uddin Ahmed, former adviser to foreign ministry Reaz Rahman, Masuda Akram, sister-in-law of former housing minister Mirza Abbas, former mayor of Rajshahi Mizanur Rahman Minu, businessmen Mofikul Hasan Tripty, Ahsan Habib, Hasan Reza, former DU vice-chancellor Prof Maniruzzaman Miah, Saleh Ahmmed got plots under other categories. Former lawmakers Hafizuddin Ahmed of Jatiya Party and Hamida Banu Shova of Awami League also got plots.

Excerpts of the report published in the Daily Star by Tawfique Ali, edited for you by myRealEstateBD.

200 plots allotted illegally in Tejgaon Industrial Area; Probe Findings on Fraud

Hotirjheel Project Area

Probe body found massive irregularities in the process of plot allotment in the Hatirjheel, Begunbari and Tejgaon industrial areas of Dhaka city.

The concerned authorities have distributed the lands among chosen persons on political and personal considerations, according to probe findings. 2 hundred such plots were allotted to individuals and organizations at nominal price. Sources said, land worth taka 1 crore per bigha was allotted in exchange for taka 1 lakh only.

The government is considering taking back the lands scrapping the allotments. But the process of redemption is yet to be finalized.

According to a report published in a leading vernacular daily, the corruption through which the plots were allotted came to the light in the findings of a committee which was formed in pursuance of a High Court order for investigating the matter.

On May 22, 2012 the High Court had asked the cabinet secretary to form a probe committee to look into the matter of illegal plot allotment in city’s Tejgaon industrial area. The court also asked the authorities concerned to submit a list of the persons who has got allotment there.

Later, a committee was formed headed by external resources division secretary Ikbal Mahmud. The committee members are LGRD secretary Abu Alam Md Sahid Khan, Law secretary Jahirul Islam and a joint secretary of Home Ministry.

As per the court order, the committee is to scan the issues of legality and transparency in the allotment process. It is also to find out any corruption committed in the process. It is scrutinizing whether permission of the Ministry of Environment and Forests was taken before the allotment.

The committee held its fourth meeting yesterday. After coming out of the meeting, Ikbal Mahmud said the officials concerned and the beneficiaries in connivance with each other misappropriated the government lands in the name of allotments. He said the committee has identified serious irregularities in the process.

Allotment of the lands was awarded to 200 persons and organizations. He, however, said the committee members are holding more scrutiny to determine whether the plots were allotted after adhering to rules and fulfilling terms and conditions. He said after detailed investigation, they will submit their findings to the court. Asked whether findings will be disclosed to media, he said they will have to take court’s permission in this regard.

Committee member Abu Alam Md Sahid Khan said they have come to know from the investigation that not a single plot was allotted taking clearance from environment ministry. The plots worth crores of taka were allotted at the behest of the concerned minister’s instruction at nominal prices, he added. He said the authority did not publish any advertisement inviting application from interested persons to distribute the plots through favoritism and nepotism. Sahid Khan said they will file a petition to the HC seeking extension of deadline for the committee as more time is necessary for thorough investigation.

LGRD secretary said the investigation which is pending now involves plot allotment to 11 news media houses and nine other organizations including telecom and RMG factory, flower mill and filling station. No advertisement was published, permission was not taken from Department of Environment (DoE) and proper value of the land was not fixed in case of allotment of the above organizations.

Another reliable source said On May 22, a division bench of HC comprising Justice AHM Shamsuddin Chowdhury and Justice Jahangir Hossain Selim directed the concerned authorities to form a committee to investigate corruption in the plot allotment in the area.

On that day, former editor of Daily Jaijaidin Shafiq Rehman and two former state ministers Ziaul Haq Zia and Major (retd) Kamrul Islam appeared before the court. On May 16, the court summoned Shafiq Rehman to appear before the court on May 22 for clarifying his role in taking allotment of plot illegally in Tejgaon industrial area. The court also directed opposition BNP lawmakers Ziaul Haq Zia and Major (retd) Kamrul Islam to submit statements swearing in affidavit disclosing their amount of properties located in the capital.

The court asked the Public Works Department to see whether the environment and surroundings are affected for plot allotment. And also ordered Anti Corruption Commission to examine if there was any corruption in plot allotment process.

This report is excerpts of the news published in the daily sun. Report edited by myRealEstateBd.blogspot.com

REHAB Housing Fair, New York 2012

REHAB Housing Fair, New York 2012

REHAB Housing Fair to be held at New York from 06-08 October, 2012. Real Estate and Housing Association of Bangladesh (REHAB) is arranging this years' New York REHAB Fair from 6th October, the most lucrative attraction of the realestate and housing companies of Bangladesh.

REHAB Fair'12, NY, USA scheduled from October 6, 2012 and will continue till October 08.

RAJUK not to Acquire New Land at Uttara 3rd Phase

RAJUK is not going to acquire any new land in the Uttara 3rd Phase Project, Dhaka. Image of the original notice served by RAJUK in Bangla is given bellow --

Image of the RAJUK notice in Bangla

REHAB Election Result 2012

Nasrul Hamid MP
President

Lawmaker Nasrul Hamid is again elected as the President of Real Estate and Housing Association of Bangladesh (REHAB) and Eng. Anisuzzaman Bhuyan as the General Secretary.

Elected 21 member Executive Committee personnel are - Mokarram Hossain Khan senior vice president, Maj. Gen. (Rtd.) Md. Abdur Rashid and Liakot Ali Bhuyan vice president, Mizanur Rahman Dewan treasurer, Md. Saidul Islam organizing secretary, Md. Ohiduzzaman joint secretary, Engr. Md. Ansar Ali joint treasurer.

Other elected members of the two year tenured committee are Dr. Md. Abdur Rahim Khan, Prof. Dr. Abu Yusuf Md. Abdullah, Kd. Robiul Haq, Maj. (Rtd.) Momin Islam, Md. Abdur Rahman, Engr. Abul Khair Selim, Arc. Md. Al Amin, Mostofa Shahid, Engr. Md. Shoib Uddin, Md. Abu Bakar Siddiq, Engr. Shafiqur Rahman and Shah Momrez Chowdhuty.

And other two Chittagong regional executive committee members are Md. Abdul Karim Chowdhury and Engr. S M Abu Sufian.

News Location: Bangladesh> Dhaka City

Sample Agreement

Sample Deed of Agreement:

1. Between Real Estate Property Developer and Buyer. --- click here to view the document ---

2. Between Real Estate Property Developer and Land Owner. --- click here to view the document ---

These links were given here for the real estate buyers and land owners to get a glimpse about the contract they are going to enter.

REHAB against entry of foreign companys

Dhaka REHAB Summer Fair 2012 Round Table Conference

Real estate companies against allowing foreign companies in the sector:

Speakers at a seminar held at the Chin Maitry Sommelon Kendra, Dhaka on the sidelines of REHAB Fair 2012, urged real estate firms to focus more on lower and middle income people, saying these two segments might offer a huge market for the real estate sector.

They said they need helps from the government as there is land scarcity in Dhaka city. Also there is no alternative of government-private joint effort to meet the increasing housing demand and ease the plight of the lower and middle income people, they added.

They also remarked that foreign companies should not be allowed in the country’s real estate sector.

Co-chairman of REHAB Summer Fair 2012 Mr. Zahir Ahmed, said, “We hope the government would discuss in length with the realtors before taking any policy decision regarding the sector, since this huge sector employing around 10 million people.”

The speakers at the seminar said time has come to streamline the sector as urbanization is spreading all over the country.

Photo Gallery of Dhaka REHAB Summer Fair 2012

Photos of Dhaka REHAB Summer Fair 2012

Location: Bangladesh> Dhaka> Dhaka City> Sher-e-Bangla Nagar> BICC> REHAB Summer Fair 2012

Dhaka REHAB Summer Fair 2012 ended

Dhaka REHAB Summer Fair 2012 ended amid Low Response.

Dhaka REHAB Summer Fair 2012 ended on Sunday, June 17, 2012. The Fair failed to attract small number of spectators this year, as a reflection of depressed real estate business due to prevailing unstable economic situation in the country.

The turnout was lower than as expected by the REHAB fair committee. Participating firms said relatively a bigger crowd thronged the fair on Saturday, but on the other 3-days it was very thin, which resulted poor sale. It is, because, the stock market disaster and country’s volatile economic situation left most people in financial crisis.

REHAB  Summer Fair  2012 Photo:

REHAB fair 2012 attracts huge visitors

REHAB fair updates

 A large number of visitors crowded the annual housing fair of the Dhaka Real Estate and Housing Association of Bangladesh (REHAB) on Friday as it was a public holiday. The 4-day REHAB Summer Fair-2012 began at Bangabandhu International Convention Centre on Thursday, June 14, 2012.

It appears, share market debacle has driven the people towards more stable property market. Many prospective apartment and plot buyers were seen moving around the fair to find an expected flat or piece of land to make their dreams of owning real estate property come true. Most of the visitors came to the fair with their family members.

Numbers of young architects were also seen roaming the fair to get to know about the demand of the clients. The architects were working on behalf of the ‘REHAB Research and Development section’. They were surveying the visitors to get to know about the nature of demands and requirements of the apartment enthusiasts.

At the evening many of the real estate companies removed their advertising materials seeing the RAJUK officials. On the first day 25 companies were warned verbally about displaying unapproved project in the fair. RAJUK magistrate told advertising and selling of unapproved project is punishable as per Land Development Law.

REHAB Fair 2012 inaugurated

Dhaka Real Estate, REHAB Summer Fair'12 inaugurated.

Obaidul Kader inaugurates the REHAB Summer Fair 2012at Bangabandhu International Conference Centre, Dhaka

Obaidul Quader, Minister for Communication and Railway on Thursday, June 14, 2011 said local real estate and housing companies should have been consulted before signing  a deal with India’s Sahara Group. The minister also expressed his doubt whether foreign investment in the country’s real estate sector is at all necessary for Bangladesh at this moment. “If the representatives from the real estate sector at the time of signing the deal with Sahara, doubts would not be arisen” said the minister while inaugurating the Dhaka real estate “Summer Housing Fair 2012” at Bangabandhu International Conference Center in the city.
The minister said, ‘We should have discussed among ourselves whether we need foreign investment in the real estate and housing sector.’ Hoping that the ministry and the Real Estate and Housing Association of Bangladesh (REHAB)  would work together, the minister said, ‘None of the plans will be effective if it is devised without suggestions and opinions of the local business community.’ 
The outspoken minister also asked the local real estate companies to follow rules and regulations to help build a planned city, preserving environment and ecology. The minister also came down hard on the fair organizers for not following the time schedule of the inaugural ceremony of the fair.
The government of Bangladesh and Rajdhani Unnayan Kartripakkha on May 23 signed a memorandum of understanding with Indian infrastructure development company Sahara India Pariwar to develop a ‘New City’ near Dhaka with ‘affordable housing for low income group people’ that annoyed the local companies. Sahara India Group chairman Subrata Roy Sahara said his group would initially invest around 120 to 125 million US dollars in the country’s real estate sector for which he sought some one lakh acres of land in the vicinity of capital Dhaka from the government.
The REHAB is organizing the four-day housing fair with participation of a total of 161 land and housing development companies and six building material manufactures showcasing their plots and apartments.

 

Lawmaker Eng Enamul Haque, a member of the parliamentary standing committee on the ministry of housing and public works, REHAB secretary-general Murad Iqbal Chowdhury and fair committee chairman Rabiul Haque also spoke on the occasion with REHAB acting president Sultana Shaheda Islam in the chair.

Meanwhile, RAJUK said most of the land development projects which were participating in the fair did not have its approval, but the REHAB said it had asked its members not to showcase unapproved projects in the fair. Only 28 out of 263 projects which were showcased in the last summer fair of 2011 had the RAJUK approval. The High Court had also directed the RAJUK and other officials concerned to stop trading of unauthorized projects in the fair. Even then the city development authorities could not rein in the trading of the unauthorized projects in the fair of 2011. ‘This year we have given conditional approval to few more projects,’ RAJUK member (estate) Sheikh Abdul Mannan Khan told. He said the number of the newly-approved projects would not cross ten whereas some 161 housing companies are displaying their products in the fair. Sheikh Abdul Mannan said a vigilance team of the RAJUK would continuously monitor the fair to see whether any unapproved projects were being sold in the fair. ‘We will take stern action against those who will sell unauthorized projects in the fair,’ he added.

A visitor at REHAB Summer Fair 2012 enquiring about housing project

When contacted, REHAB general secretary Murad Iqbal Chowdhury said they have asked their members not to showcase unauthorized projects in the fair. He, however, asked people to ensure whether the projects are approved by the RAJUK before purchasing plots or apartments.
The fair will continue till June 17 and it will open from 10am to 9pm.

Dhaka REHAB summer fair 2012

REHAB summer fair 2012 begins today

The four-day Dhaka Real Estate and Property 'REHAB Summer Fair 2012' begins today at the Bangabandhu International Conference Centre in the capital Dhaka. The projects unapproved by Rajdhani Unnayan Kartripakkha would not be allowed to display in the fair. Total 166 stalls installed in the fair when the number was 263 in the past summer fair in 2011. The fair will remain open from 10:00am to 8:00pm in the remaining three days.

RAJUK Uttara Flat Project application time extended upto July 31.

RAJUK Building

RAJUK Flat Project stumbles at the outset.

Flat project to solve the housing problem of Dhaka, the capital city by Rajdhani Unnayan Kartripakkha (RAJUK) staggers from the very beginning. Not getting expected response from the buyers by extending application submission deadline time and again. Concerns told that high price of flat and ample security deposit discouraged the people to apply.

For the first time RAJUK has decided to distribute flat instead of plot for the public. Primarily 6 thousand 6 hundred flat construction work is started at extended Uttara 3rd Phase project. Deadline for application was set to April 30, as fifty percent application was not dropped during the time, thus the authority has extended the deadline upto May 31. Again, the time has been extended for two months upto July 31 as the application turnover was not as expected.

Uttara Flat Project Location Map

RAJUK state department source told that about 6 thousand application dropped after extending time for the 2nd time.

Project Director of RAJUK ‘Uttara 22 thousand Flat Project’ told that many of the interested to apply in this project have already been applied for other RAJUK projects and didn’t yet got back their security money, hence on their request time has been extended for the 2nd time. Claiming that the price set by RAJUK Tk.3,500/- per square feet comparing to market price  Tk.6,000/- per sft is far less.
1620sft flat including 370sft common space will cost taka 56 thousand 70 thousand plus registration and other cost. In addition to this taka 3 lac will be kept with RAJUK as security deposit.
Construction work started in this March but the progress is not good, as because, lack of coordination between RAJUK and Foreign-local construction contractors. This project is also deteriorating the relation between RAJUK and local Real Estate companies.

To solve the housing problem of Dhaka city RAJUK has planned to construct 4 lac 50 thousands flat in & around the capital city, Uttara flat project is the 1st phase of it. ‘Uttara 22 thousand Flat Project’ at 214.4 acre of land with an estimated cost of taka 9 thousand 30 crore. First 6 thousand 6 hundred flats of Block-A of the project will be completed and handed over within 30 months around the end of 2014 is planned.

RAJUK Jhilmil Project Plot Allotment Result

Rajdhani Unnayan Kartripakkha (RAJUK) logo

 Jhilmil Project Plot Allotment Result

Click the following link to see the Rajdhani Unnayan Kartripakkha (RAJUK) Jhilmil Project Plot Allotment Result:-

Jhilmil Plot Allotment Result 2012

About Jhilmil Residential Area

Background of the Project

This housing project is located at Keranigonj across the Buriganga River at the south of Dhaka. The Project area comprises of 381.11 acres .There will be about 1800 residential plots and 9,500 apartments for lower and middle income groups with all necessary infrastructure and urban services.

Objective of the Project

RAJUK Jhilmil Project Map

• To reduce the acute housing problem of Dhaka.

• To reduce the pressure of population in Dhaka city by creating residential facility for the city dwellers in the close proximity of Dhaka by extending the city area. 

• To expand civic facilities by urbanization of the area between Dhaka and Keranigonj gradually.

• To maintain the balance of environment by proper urbanization.

Realtors protest Sahara's entry

Deal with Sahara: REHAB & BLDA demand matching facilities from Govt.

Nasrul Hamid Bipu and Ahmed Akbar Sobhan

Bangladeshi real estate and land developer companies said on Saturday, June 02, 2012 that they would invest many times more than India’s Sahara Group to develop housing in the country if the government give them matching facilities.
They said the government should have consulted them before signing a MoU with Sahara seeking investment in setting up of satellite cities close to the capital Dhaka.
On May 23, 2012 the government signed an MoU with Indian company, Sahara India Pariwar for developing a ‘new city’ on the outskirts of Dhaka having ‘affordable housing for low income group people.’
In a press conference organized by Real Estate and Housing Association of Bangladesh (REHAB) and Bangladesh Land Developers Association (BLDA) yesterday, the local developers demanded that the government should have a dialogue with them before going ahead with the Sahara's proposal.
“Now, if the government allows Sahara to acquire land at government rates, which is way lower than that of a developer offers, will create an unfair competition in the sector,” said Nasrul Hamid, president of REHAB.
He also said the local developers feel hard done by as the government did not approach them for suggestions and insights before approaching the Indian conglomerate.
After signing the deal, Sahara India Pariwar chairman Subrata Roy Sahara told a news conference that his company would initially invest 120 to 125 million US dollars in Bangladesh’s real estate sector for which he had asked for 100,000 acres of land on the outskirts of Dhaka from the government.
REHAB and BLDA leaders said that they were requesting the government for long to provide them the land to develop satellite cities around the capital.
‘We have been requesting the government to provide land for developing satellite cities around the capital. But the government did not respond to our proposal,’ BLDA president and Bashundhara Group chairman Ahmed Akbar Sobhan told the news conference.
He said that Bangladeshi companies were not being able to handover thousands of apartments to their buyers for lack of gas and electricity for last three years.
Replying to a question, he said, foreign investment in housing could be allowed only after protecting the interests of the vibrant domestic industry.
He said that Bangladeshi companies had the capacity to go for big investments for such projects.
He said foreign real estate companies could be allowed to invest in Chittagong and other cities of the country.
If the government provides to Shara 100,000 acres of land in Dhaka, the obvious question that would arise is why BLDA and REHAB would not get comparable or more land as they could invest many times more than Sahara had offered, he said.
Asked whether foreign investment could create competition, he said, ‘Let the government provide us 200,000 acres of land first, 100,000 acres to each association, to create a level playing field for competition.’
‘We would be able invest many times more than what India’s Sahara has offered to invest in the sector given the matching facilities,’ he said.
REHAB president Nasrul Hamid Bipu, a ruling party lawmaker, in a written statement, said that the government should have consulted them before allowing a foreign company set satellite cities close to Dhaka.
He asked the government to sign MoUs with REHAB and BLDA like the MoU it had signed with Sahara for developing satellite cities.
Bipu called for protecting the interest of the domestic industries first.
When his attention was drawn to newspaper reports that Sahara Pariwar was facing charges of tax evasion in an Indian court, Bipu said the government must look into the reputation of foreign companies before allowing them to invest in Bangladesh.
BLDA secretary Mustafa Kamal Mohiuddin, former president of REHAB Tanveerul Haque Probal, joint secretary of REHAB Major (retd) Jamshed Hassan, EC members of REHAB Arshi Haider and M Anisuzzaman Bhuiyan Rana were among others present at the news conference.

Beware of Oasis

• No clearance certificate from the land office about the ownership of the land.
• Building Construction Drawing and Design is not approved by the proper authority.
• No environment clearance certificate for building construction at the site.

Without any approval from the local authority, Oasis Hotel & Resorts Ltd. has started (!) construction work of 14-stroried five star hotel building at disputed land and environmentally hostile establishment at Cox’s Bazar sea beach. Though, the hotel management has already pocketed hundreds of crore of taka from the public by publishing lucrative advertisements.

According to the advertisements one can have partial ownership of the hotel, can stay 3-days & 2-nights free in a year and share of profit by paying only one lac taka (tk.50 thousand booking money and tk.2 thousand monthly installments). But in reality a shareholder is going to own only 0.0038 decimal land and 9.44 sft.  of the building. The hotel management has said that they are going to sale 40 thousand shares to the public of the 211 roomed hotel building which will be constructed on 452 sft. land. As per their statement a single room will be sold to 189 persons and from that they will get 1.90 crore taka from each room, and 400 crore taka from the whole hotel project.
Local administration and environmentalists warns the public about the Oasis and told the news men that it is purely a fraudulent act. They have also published warning notice about this.
District Commissioner (DC) has told to the press that the Oasis authority has not yet got approval from the Cox’s Bazar Development Authority for construction of the 14-storied building and a hotel. Whereas, the hotel management is already selling hotel rooms to the public, by circulating lucrative advertisements in the media, though both are illegal. The local administration has served a public warning and a notice to the hotel management regarding this on May 21, 2012.




While visiting the site it is found that a huge billboard of Oasis Hotel is hoarded at the govt. unused land. On inquiry it is revealed that R. F. Builders (owner of Oasis) has tried to start construction of the hotel building on a 10- decimal land, which is owned by some Mr. Malek of Moheskhali, whereas the Oasis management is claiming that they have got 150- decimal land. Furthermore, the High Court has imposed restriction against construction of any permanent structure harmful to natural environment of the beach area.

The hotel management claimed that they have taken building construction permission from the local pouroshova in 2005, whereas it is compulsory to take approval from the Cox’s Bazar Development Authority.

News is published by Prothom Alo on June 01, 2011.

Sahara to invest $120m in Bangladesh

Sahara to invest $120m initially in Bangladesh Real estate and Housing Sector.

Sahara Group of India wants to initially invest $100 to $125 million for a township-housing scheme near the capital Dhaka, its Chairman Subrata Roy Sahara said in a press conference at Ruposhi Bangla Hotel, Dhaka on Friday, May 28, 2012. The Group has launched its subsidiary organization “Sahara Matribhumi Unnayan Corporation Limited”.

Subrata Roy Sahara, managing worker and chairman of Sahara India Paribar, introduced Sheikh Fazle Fahim, son of Awami League presidium member Sheikh Fazlul Karim Selim, as director of the new company and 'mentor' of the Group in Bangladesh at the press conference.

The conglomerate is keen to implement “New Dhaka” the housing scheme for the low-income group of people around the capital with all modern amenities. They have sought 1 lakh acre free land from the government and the company will bear all the costs needed for completing the project. A proposal has already been placed to the Bangladesh government in this connection.

The Chairman of the group said they would not build any concrete jungle; rather they would provide the people with a “complete lifestyle”. He expressed his view of working in Bangladesh to 'complement', not to 'compete', with other business bodies for the development of the country.

Subrata Roy Sahara

Mr. Sahara had earlier signed a memorandum of understanding (MoU) with Rajdhani Unnayan Kartripakkha (RAJUK) in this connection and had a meeting with Prime Minister Sheikh Hasina during his four-day visit here.

Citing a BoI (Board of Investment) report, he said that Bangladesh received investment of $ 600 million over the last 40 years from India. "It is very much insignificant. Our proposed initial investment of $ 120 million will be, so far, the largest one from India," he added. 

Apart from the infrastructure and housing sector, Sahara has plan to invest in some other projects in the country's different sectors including IT, health, education, power and tourism.

During his three-day visit he had several meetings with the top officials of Bangladesh Bank and Board of Investment and placed a number of investment proposals for at least 10 sectors in Bangladesh.

Asked about the reason behind coming to Bangladesh, Subrata Roy said, “After India, this is the land which seems to me as my own land. Doing business is not the lone reason for coming here. I have an emotional attachment with this country as my maternal root is from Bikrampur and bright business opportunity here as the country’s economy is growing rapidly”. Mr. Subrata said they are also interested to do something for Bangladesh cricket, "The Sahara logo has been on the jersey of Indian cricket team for the last 10 to 12 years. I am not announcing but it may be possible to see the same logo on the jersey of Bangladesh cricket team too."

Different company logos under Sahara Group

REHAB Summer Fair'12

REHAB Summer Fair'12

REHAB has announced its schedule for next national summer fair. The REHAB Summer Fair'12 will be held from 14-17 June, 2012 at Bangabondhu International Conference Centre (BICC), Dhaka, Bangladesh.

It is an opportunity for the customers to pick their desired property from the most suitable project. Or atleast you can compare the offers they are showcasing. We always recommend you all to visit the realestate fairs to gain an overall idea about the real estate and property market of Bangladesh.

Bangla New Year 1419 Celebrated

Bangla New Years Greetings. Shuvo Nobo Borsho.
First day of the bangla new year is celebrated as pahela boishak. Baishakh is symbolic of a renewal. This year apart from other programs, a new thing, painting the largest alpana in the world on both sides of the Manik Mia Avenue in Dhaka. On the eve of Bangla New Year, five eminent artists, Inset, coordinated the 350,000 square feet motif representing the folk culture of Bangladesh. It is really big thing and people all walks of life has taken part in this painting work with excitement.