Who hasn’t thought about owning their very own piece of land in Dhaka city? We all want to invest in a way where the risk is minimal and the investment is unquestionably profitable. Land or plots occupy a huge market for this safe and profitable investment. But to make a profitable investment in this important real estate sector, it is necessary to know the difference in land prices over the past decades in different areas of Dhaka city. Only when you can analyze the variation in land prices of different areas of Dhaka in the past decades and the reasons for these differences, you can decide on the best investment for now. So, in today’s blog, I will tell you about the differences in land prices over the past decades in important areas of Dhaka and the future investment potential of different areas of Dhaka.
Baridhara
Baridhara has distinct popularity as a residential area. The area is not far from the hustle and bustle of the main town and well-crafted in a shady quiet environment. There are all the materials of civic life including reputed schools, colleges, hospitals, and shopping malls. And that’s why the price of land here seems to have skyrocketed. In Baridhara in 1990 the price per Katha was 6 lakh BDT.
During the year 2000, the price of the same place was 50 lakh BDT. In other words, the price of land in Baridhara increased by 733% in just 10 years. The difference in land prices in Baridhara from 2000 to 2010 is even more alarming. The land prices over the past decades have increased from Tk 50 lakh to Tk 4 crore per Katha. In other words, in these 10 years from 2000 to 2010, the price of land increased by another 700%.
|
Baridhara |
Time | Price (per katha) | Upward Rate |
| 1990 | 6 lakhs BDT | ||
| 2000 | 50 lakhs BDT | 733% (1990-2000) | |
| 2010 | 6 crores BDT | 700% (2000-2010) |
Gulshan
Gulshan is one of the elite areas of present-day Dhaka. As there are various business establishments and bank headquarters here, every working day is crowded here. And with all this in mind, innumerable luxurious buildings, modern restaurants, and ancillary facilities have been built in Gulshan. So, everyone has a special attraction towards this area as a residential area. The land prices over the past decades in Gulshan in 1990 was 6 lakh BDT per Katha which increased to 22 lakh BDT in just 10 years. In 2010, the price of this land went up to 2.5 crore BDT. In other words, in just 10 years, the amount of price increase is 1038%.
|
Gulshan |
Time | Price (per katha) | Upward Rate |
| 1990 | 6 lakhs BDT | ||
| 2000 | 22 lakhs BDT | 267% (1990-2000) | |
| 2010 | 2.5 crores BDT | 1036% (2000-2010) |
Banani
Way back when the Banani area was planned, it was conceived as a residential area for the middle class. So, land prices have been within reach for decades. But over time, the most colorful people of the country now live in this area. Banani is now a valuable area of Dhaka for both residential and commercial purposes. Like Gulshan, land prices over the past decades per Katha of land here was 6 lakh BDT in 1990 which increased to 20 lakh BDT in 2000, and in 2010 the price per Katha of land in Banani increased to 1.5 crore BDT. In other words, the rate of increase in the price of land from 2000 to 2010 is 650%.
Dhanmondi
Dhanmondi is one of the most popular residential areas in Dhaka. In 1990, the average value of land in this tidy area was only 6 lakh per Katha. Till the year 2000, the rate of increase in the price of land in Dhanmondi was 267%, which means that the price of land went up to 22 lakhs BDT. In 2010, the increasing rate was even higher, at 809%. In other words, the price of each Katha of land is 2 crore BDT.
Other areas
In addition to these elite areas, land prices over the past decades in residential areas like Mohammadpur, Mirpur or Uttara have also risen at an unimaginable rate. In Mohammadpur, the price of land in 1990 was 5 lakh BDT per Katha, but in just 10 years, the price of the same land increased to 12 lakh BDT. From 2000 to 2010, the inflation rate was 436%. In other words, the price of each Katha of land was 60 lakh BDT. This picture of price rise is no different in the case of Mirpur. The price of land in Mirpur was Tk 2 lakh per Katha in 1990 which increased to Tk 6 lakh in 2000. And in 2010 the price of the same land increased to 40 lakh BDT.
Uttara is another popular area in Dhaka. In 1990, the area was not as developed and elite as it is now. So, at that time the average price of land in this area was only 3 lakh BDT per Katha. But in 10 years the price of land in Uttara increased to 10 lakh BDT. And the rate of increase in the next 10 years was 650%. In other words, the average price of land in Uttara in 2010 was 75 lakh BDT per Katha.
Current investment thinking
Once upon a time, areas like Gulshan, Banani, Baridhara were also underdeveloped and unplanned. Over time, many embassies have sprung up around these areas. The demand for luxury housing has increased. Wide roads and skyscrapers have been built in a well-planned manner by dividing each block and road. And because of this kind of development, land prices over the past decades in these areas have increased manifold. But the next question is, where do you invest? You need to find an area to make a successful investment within a low budget where there is a huge potential for development in the future. Some of these areas around Dhaka are Dakshinkhan, Purbachal, Keraniganj, and Savar. Although these areas are still developing, there is a high possibility that the next section of Dhaka will expand in these places. Or, let’s talk about Mirpur!
We can infer from the data of the past decades that the price of land will skyrocket there with the launch of Metrorail. So, a proper analysis of the question of how much land prices have risen in the past decades in different areas of Dhaka and why so can make your future investment more promising. Let us know in the comments where you are thinking of investing.
