Most of Chattogram people have to struggle hard to get their dream apartment or plot as their ability does not match the ever increasing price.
Realtors blame high registration fees of plot and flat and poor facilities of financial institutions whereas consumers blame poor policymaking.
Government officer Sitara Nahar, who wants to buy a flat before her retirement, says, ‘It is not so easy. I want to buy a flat near Khulshi of 850 square feet. But I am not getting as per my choice. Either I find 1,200-1,600 square feet flat or far from my preferred area.’
Physician couple Tamanna Shahed and Md Shahed share the same feelings. They need a flat in Sholoshor area and it should be bigger than 1,600 square feet for their big family.
They find the price very high and suggest that the realtors should also make flats of various sizes in different localities.
Chattogram Development Authority, Chattogram City Corporation and National Housing Authority are also working to end housing crisis in the port city.
CDA sources said that already they implemented different housing projects Aananya Residential Area, Kalpalok Residential area, Chandgaon Residential area, Chandrima etc.
CDA has taken flat construction projects Dewanhat Apartment Complex which comprises 40 flats and CDA Square of 165 flats with car parking facilities.
Chief town planner of Chittagong City Corporation AKM Rezaul Karim Kaiser had told New Age earlier that realtors used to flout the rules and regulations but now they were trying to follow the rules during construction work.
He said that for planned development of Chattogram there was a master plan of CDA which expired few years back and they were not going to review the plan.
There is no alternative to developing the nearby areas of the port city, he says, arguing that the population is increasing.
Generally, realtors take three to five years to hand over a flat to its buyer. They should come out of this mindset and concentrate on a first-track construction method, he suggests.
REHAB sources said that the realtors have doubled their investment in this sector in the last few years.
In Jamal Khan area flats are available at Tk 7,000-7,500 per square feet which is available at Tk 3,000-3500 in City Gate area.
Once at Khulshi, the posh area of Chattogram, price of flat was Tk 10,000-12,000, which fell to Tk 7,000-8,000 per square feet now. In Agrabad area, the price of flat is Tk 3,000-6000 per square feet.
According to REHAB, investment in real estate sector in Chattogram region was Tk 3,500 crore in 2014, Tk 3,750 crore in 2015, Tk 4,000 crore in 2016, Tk 5,000 crore in 2017.
REHAB Chattogram was formed in 2006 with 18 companies which increased into 102 in 2013. At present, Chattogram REHAB has 150 members. Due to fall in business of this sector in the year 2014 some REHAB members did not renew their membership.
Realtors demanded incentive of Tk 20,000 crore as housing loan for fulfilling the dream of accommodation for lower and middle income people.
REHAB vice-president and chairman of Chattogram Regional Committee Abdul Kauiam Chowdhury said that the housing and real estate sector was set for turnaround recovering the slump and there was huge demand from the low and middle income group in Chattogram. At present there are nearly 4, 000 ready flats in Chattogram.
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