Buyers look for risk-free investment

Moazzem Bepari, a 52-year-old hotelier from Old Dhaka, came to the Real Estate and Housing Association of Bangladesh (REHAB) Fair on its closing day, looking for a plot in the capital. 

“Purchasing a plot in Dhaka is a long-cherished dream. So, I came to the fair and collected brochures of some good companies,” he said. “I looked for a reputed company since there are some realtors who cheat customers while selling plots and apartments. I want to purchase a plot in areas like Banasree, Aftabnagar and Demra.”

Retired civil servant Asraful Islam was looking for a medium-size flat in Mohammadpur or Badda. He said he visited the fair to explore different options and enjoy realtors’ discounts.

Asraful said he would book a flat his wife had picked on Friday. “I came here to cross-check to ensure that it is a risk-free investment because there are many unscrupulous companies who don’t hand over apartments on time. Besides, we’ll invest a huge sum. So, we’ve to make the final decision after a lot of thought,” he said.

Managing Partner of Prasthapatik Associates, architectural and engineering consulting firm, M Mahbubur Rashid said he came to the fair with his friend to purchase a luxurious apartment.

“My friend will buy the apartment but he does not know much about it. It’s in fact very tough to buy a genuine apartment. As an architect, I can understand the situation of the apartment. But it is very tough to know what type of construction materials were used there. Many realtors deceive customers by using low-grade materials,” he said. 

On the inaugural function of the five-day REHAB Fair-2021 at Bangabandhu International Conference Centre, Commerce Minister Tipu Munshi urged realtors not to cheat customers while selling apartments.

“We receive many complaints against realtors that they take money from consumers but don’t hand over apartments properly or timely. We hope that it won’t happen,” the minister had said.

He said realtors have been playing a significant role in building a planned city. So, the DAP (detailed area plan) policy should be finalised through discussion with all parties concerned.

A total of 220 stalls were set up at the fair, where realtors, building material suppliers, banks and other financial institutions showcased their products and services.

Talking to The Business Post, Assistant Manager of marketing and sales at Amin Mohammad Holdings Ltd Mohammad Rayhan Gafur said their company keeps their commitments to clients. 

“We have a premium land project ‘The Valley Bangladesh’ on 144-bigha beside the Dhaka-Mawa Expressway. Now we are selling 3-5 katha ready plots. There will be parks, mosques and playgrounds inside the project. We offered 10 per cent discount per katha,” he said, adding that their plot prices would rise from next year.

US-Bangla Assets Ltd’s Marketing and Sales Manager Mir Gulam Morshed Emran said they try to fulfil their commitment. “We hand over plots after registration. So, there’s no scope of cheating,” he said.

He said they have a 900-bigha project near Purbachal Rajuk project. “Our asking price of residential and commercial space is Tk 33-50 lakh per katha. We offered 25 per cent discount at the fair,” he said.