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REHAB appreciates move allowing investment with undisclosed money

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REHAB appreciates move allowing investment with undisclosed money

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REHAB leaders said the opportunity to invest with undisclosed money helped the real estate industry receive an investment of Tk20,600 crore in the 2020-21 fiscal year.

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Senior Correspondent

Publisted at 1:36 PM, Sun Jun 9th, 2024

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The Real Estate and Housing Association of Bangladesh (REHAB) has appreciated the government for offering the scope for investment with undisclosed money in the proposed budget for FY24-25.

The association leaders said such an opportunity in the 2020-21 fiscal year helped the real estate industry receive an investment of Tk20,600 crore, which contributed more than Tk2,000 crore to the revenue collection of the National Board of Revenue (NBR).

"This measure is realistic and timely," said REHAB's newly elected President, Wahiduzzaman, at a press conference on Sunday (June 9).

Wahiduzzaman said the existing registration fees for land and flats are high, calling upon the government to cut the registration rate from the existing 22% to 7%.

He said if the registration fee is decreased, the revenue will ultimately increase.

The president also urged the government to take initiatives to promote the second-hand flat market.

He said the existing registration fee for a second-hand flat is the same as for a new flat. As a result, many people do not show interest in buying a second-hand flat. The president urged the government to reduce the registration fee to 4% for second-hand flats.

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