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Harassment in sales and purchase of plots, flats PDF Print E-mail
Wednesday, 30 July 2008

Chief adviser Fakhruddin AhmedNew law to discipline real estate

Staff Correspondent

The cabinet Tuesday approved in principle the Real Estate Management Ordinance 2008 with a provision for punishment to the guilty to stop harassment in the sales and purchase of private plots and flats.

The ordinance keeps a provision for a three-year jail term and a Tk 5 lakh fine to any unregistered developer advertising for the sale of flats or plots.

Real estate owners that develop land or construct houses without government approval will be sentenced to three years in jail and fined Tk 10 lakh, according to the ordinance approved by the cabinet at a meeting.

Chief adviser Fakhruddin Ahmed presided over the meeting in his office.

In a post-meeting news briefing, the CA's press secretary Syed Fahim Munaim said that Building Construction Act 1952, Bangladesh National Building Code 2006, Private Residential Land Development Rules 2004, Natural Water Bodies Protection Act 2004 and other laws and rules relating to house building would also remain in force.

The ordinance provides for a two-year jail term and a Tk 5 lakh fine for a developer if he does not complete work in line with an agreement with the landowner.

The developer of any plot or flat will be sentenced to one-year rigorous imprisonment if any flat or plot of any housing project is sold out, concealing information about lease to any financier. He will also be fined Tk 1 lakh.

If any owner sells plots or flats without informing the developer, the seller will suffer two years behind bars and will be fined Tk 10 lakh, according to the ordinance.

If the developer cancels plots or flats without notifying the buyer, the developer will suffer one year's jail term and be fined Tk 2 lakh.

The press secretary said the meeting also approved the Attorney Service (Amendment) Ordinance 2008.

The meeting approved a proposal to join SAARC Convention On Mutual Legal Assistance In Criminal Matters, to be signed at the SAARC Conference in Colombo. The convention promises to provide mutual legal assistance among SAARC countries to control crime.

Comments Add New
Dr. JamirChowdhury  - Director, Qatar University, Doha, Qatar |2008-07-31 04:10:49
In less than two years term this government set an example by approving the Real Estate Management Ordinance 2008 with a provision for punishment to the guilty to stop harassment in the sales and purchase of private plots and flats. Now, I hope that this government will set another example by taking stern action against those that broke and braking rules and regulations in the light of existing and new laws. I am afraid that, in the future, the new elected government (no matter who will come to power) will not be able to enforce laws and take actions against law breakers because of political patronization and influence.
Group Captain S.M.Kalim Ullah(  - Good Job Done |2008-08-20 03:19:44
I believe the "Real Estate Management Ordinance 2008" will bring discipline in private real estate business of Bangladesh. It will ensure the prevailing harassment of honest and genuine sellers and buyers of flats and plots in Bangldesh.Thus only the genuine people will come forward in the business if the Ordinance is implemented by the Government. I congratulate the CA for his kind consent for approving the Ordinance.
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