Trends: Bangladesh's Property Market Analysis & Reports

Trends May 28, 2022

What is sale permission and why it is important

Reading Time: 3 minutes You can’t transfer the ownership of leasehold property the same way you could have if it was a freehold property. In order to do that, you will need RAJUK’s sale permission first in compliance with its regulations. This is the first step in transferring the ownership of a leasehold property. And the permission letter that the seller gets from RAJUK to sell the property is basically known as the sale permission letter. In this regard, it is important to know that sale permission is required only for the leasehold property. In the case of freehold property, however, no permission is required. What properties are the leasehold property Generally, all the properties that are under the supervision of the Capital Development Authority (RAJUK), Chittagong Development Authority or CDA, Ministry of Works or Ministry of Housing and Public Works, or National Housing Authority are basically leasehold properties. And for the leasehold properties…

Trends May 24, 2022

How to get building approval for construction

Reading Time: 3 minutes Everybody has a dream of owning a home in Dhaka. Numerous plans including location selection, land purchase, house design, and construction are carried out to fulfill that dream. But before you could do all that, you need approval for building construction. In that regard, RAJUK or the Capital Development Authority is the government institution overseeing all development plans in Dhaka. One of the agency’s functions under the Ministry of Public Works is to approve building designs. So if you want to build any building in Dhaka, first you have to submit its design to RAJUK and get approval. In order to get approval for the construction of buildings, especially in Dhaka, the design of any building has to comply with the National Building Construction Rules of Bangladesh and RAJUK Building Construction Rules. if any building or part is constructed in violation of these two types of rules, then that building…

Trends May 21, 2022

Find the Answers to these FAQs of Mortgage

Reading Time: 4 minutes Securing the fund, sometimes known as a mortgage, is one of the most critical aspects of purchasing or selling a property. A mortgage is a loan provided by a bank or mortgage lender to a buyer to assist with the purchase of a home. Understanding the ins and outs of mortgages is critical whether you’re buying or selling a house. Because the vast majority of people who purchase a home will require a mortgage, and knowing the FAQs of mortgage can substantially decrease the stress of acquiring one. In today’s blog, we sat down with our mortgage experts at Bproperty, and listed down some of the most frequently asked questions about mortgage for you. How Do I Start The Process Of Getting A Mortgage? Getting the mortgage process started is one of the first stages in buying a property. And finding a top mortgage lender or bank is the next…

Trends May 17, 2022

Mirpur’s Bright Future: The anticipated effects of Metro Rail

Reading Time: 4 minutes Before we dive deep into the discussion on the effects of metro rail in Mirpur, it is important to understand where we are coming from. The current roadway infrastructure of Mirpur is nothing sort of a big mess. Despite being the largest area of the capital in terms of both size and population, Mirpur remained less accessible to most people living outside the area. However, during monsoon, the situation of its dysfunctional roadway system becomes more evident as it crumbles due to crippled infrastructures. But the situation is expected to change big time following the metro rails operation (Uttara – Agargaon) which is set to begin in December 2022 and extended operation to Motijheel in 2023 same time. But what are the changes that metro rail is expected to bring? And what does the future hold for Mirpur in the wake of the metro rail operation? In this article, we…

Trends May 14, 2022

Everything you need to know about succession certificate

Reading Time: 4 minutes In order to become the owner of an inherited property legally, heirs must obtain a succession certificate as proof of their inheritance. Not only does it important for establishing your legal rights over the property, it is also important if you want to divide and distribute the property among its rightful heirs. But why is it important to have it in your possession? And how can you obtain it? In this article, we will discuss everything that you need to know about a succession certificate. What is a succession certificate A succession certificate is a certificate that proves the authenticity of the inheritor of the deceased’s bank deposit, company shares, debentures, royalties, and most of all, their property. A succession certificate is usually required to prove one’s legality as the inheritor. Sections 360-369 of the Succession Act 1925 deal with the succession certificate. This Act does not specify a time…

Trends May 10, 2022

Types of home loans in Bangladesh and Eligibility Criteria

Reading Time: 5 minutes Whether you are planning to purchase an apartment, a piece of land, or a whole building structure, or are renovating an existing property, you need to make a massive investment. That is where home loans come into play. Even people who can finance on their own feel at ease taking a home loan. This is because it is easier to pay back loans in affordable installments than to spend a huge amount of money at once. And it also puts less pressure on the borrower. The good news is the real estate sector in Bangladesh is booming and to cope with the demand, government-approved banks and financial institutions are offering different types of home loans in Bangladesh under easy conditions. That is to say, you now have many options when it comes to home loans. And it is necessary for you to understand each of them so that you can…

Trends March 29, 2022

Biophilic Design- What is it and why is it getting popular?

Reading Time: 3 minutes How do you feel about going for a hike in the mountains or a run by the beach? Do you feel relaxed or at ease when you are close to nature? Is it true that spending a few minutes outside improves your mood? Then the concept of biophilic design is just the right fit for you. Biophilic design is an architectural approach that aims to bring people closer to nature. Natural lighting and ventilation, natural landscape features, and other components are used in biophilic designed buildings or interiors to create a more productive and healthy environment for people. In today’s blog, we will explore more on the different aspects of biophilic design and dig deeper into the recent popularity of it. What is Biophilic Design In simple words, It is the way in which architects or interior designers incorporate nature into building spaces and the interior of the house to…

Trends March 22, 2022

The process of legally dividing property among inheritors

Reading Time: 3 minutes Before we begin our discussion on how to legally divide property among inheritors, we need to clarify some concepts. First of which is the Partition deed. A partition deed is prepared to legally divide the inherited property among the inheritors according to their rightful share after determining the total worth of the inherited property. However, in our country the practice of dividing the property among the inheritors orally is very common. And that is all fine and dandy until someone wants to sell or transfer their portion of the property. So to avoid this unnecessary hassle, you need to prepare a partition deed. With that being said, here is everything you need to know about the legal process, registration fees, and other duties of the Partition deed. Regarding the inherited family property, all the heirs can divide their share among themselves if they wish. Also, if one person wants to…

Trends March 15, 2022

What is Foreign Power of Attorney?

Reading Time: 4 minutes The term “Power of Attorney” is not something that you will come across every day or at least in handling your normal life which is heavily dictated by a strict routine of a family guy. Unless of course, you are someone who is handling ten different things at the same time and has assets that need to be maintained on a regular basis. Even then you may not need to call your lawyer and instruct them to prepare a Power of Attorney so that you can deal with things without having to be there in person. However, if you are an NRB who owns multiple properties, have bank accounts, or have other legal dwellings in Bangladesh, you may want to know about what a “foreign power of attorney” is, how it works, and why you need to be aware of its process as such. Because without prior knowledge, you may…

Trends March 8, 2022

Is real estate a suitable sector for women to build a career in?

Reading Time: 4 minutes Women are moving forward shoulder to shoulder with men, in some cases even moving ahead of them. And as their participation is increasing in different professions, businesses, politics so do their impact. There have been countless examples of women successfully walking on a par with men both locally and globally. But the scenario is a bit different for real estate in Bangladesh. Many feel that a challenging sector like real estate is not at all conducive for women to build a career. Real estate is considered to be a male-dominated sector, where only men can work. But you couldn’t be further than the truth. Many self-reliant women are now choosing their profession in real estate than ever. They are working in every field related to real estate, from property sales to legal aid. Not only are women working, but they are also successfully leading the sector. In today’s article, we…