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‘Open investment facility in housing sector’

4 || risingbd.com

Published: 07:29, 8 May 2017   Update: 15:18, 26 July 2020
‘Open investment  facility in housing sector’

Tanvir Shahriar Rimon

Staff Correspondent, Chittagong: Engr. Tanvir Shahriar Rimon, a top real estate boss, has urged the government not to raise any question on the sources of investments in housing sector, and give the opportunity of ‘no’ questions on undisclosed funds  in the upcoming national budget for the year 2017-18.

If the provision is not revived, a large sum of money will be flying to other countries, Tanvir Shahriar Rimon, chief operating officer of ANZ Properties Ltd, said this while talking to risingbd.

He said every year so many investors are investing outside enjoying the scope of a 'second home' programme offered by various countries, specially in Malaysia, Singapore & Thailand. “We have to take steps to keep the money inside for the well-being of the housing sector”, he said.

In the pre-budget discussion, he also demanded of the goverenemnt to reduce the registration cost of flats and plots to a realistic figure of 7 per cent.

He also explained that in current situations when flat buyers go for registration for an apartment, they are to pay 3% stamp cost, 4% (in some areas even more) gain tax, 2% registration cost, 4.5% vat (in case of above 1600 sft flat) and 2% city corporation tax.
Along with that they are to pay per sft. Tk 500 as source tax. In a gross, one apartment registration cost comes around 20% of the deed value, which is much much higher than other countries.

As a result, most of the purchasers are not taking registration even after taking flats from the developer companies. In such case government is loosing a big chunk of revenue.
He also asked the government to make a policy for secondary apartment registration as well.



risingbd/Chittagong/May 7, 2017/Rezaul/Mukul

 

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