Asia > Southern Asia > Bangladesh > Real Estate Development Law

Bangladesh: Real Estate Development Law

2012/08/02

National Minister for Housing and Public Works Abdul Mannan said that the government will take stern action if anyone is found involved in violating the Real Estate Development and Management Law.

The minister said this while talking to journalists after holding a conference with a delegation of Real Estate and Housing Association of Bangladesh (REHAB) at his ministry on Wednesday.

Before , the newly elected office-bearers of REHAB called on the minister at his office. Talking to the newsmen, Mannan said the law has been passed in the parliament to replace discipline in the land business sector so that none could resort to illegal activities in the name of such business.

If the housing busin-essmen failed to give plots or flats to those who give money for it as per agre-ement, the victims can file a case with court, which can sentence the accused to 20 years in jail and fine Tk lakh as per the law, he said. Referring to the law, the minister said that from now on real estate businessmen, who intend to give advertisement in newspapers and elec-tronic media, will have to take prior permission from the Rajuk.

Talking to journalists, REHAB president Nasrul Hamid said that his association settled about 8,00 allegations made by the victims so far.

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