Accounting Practice in Real Estate Business: A Case study on Greehaniraman Chowdhury Limited

Abstract

Real Estate business in Bangladesh is a recent phenomenon and mainly concentrated in the Dhaka city. As a successful business, Real Estate sector should get extreme care and concern from government. Along with policy, this sector should get adequate support to survive and serve the people. Now days by recent few years Real Estate companies are facing problems to sale their flats and ready flats to handover for reason of high pricing. Customers are avoiding buying a flat rather than wishing to live in a rent house. The price hike of apartments is a major and debatable issue in the Real Estate sector of Bangladesh. The Real Estate developer companies are criticized of charging a lot of money for an apartment. In recent years, apartment’s price increased due to the unimaginable increase in land price as well as sharp increase in prices of the construction materials. That is why the sale of all type of flats, apartments, and lands decreases. For price hike ready flats are remain unsold and companies are counting huge lose. For high price, general customers are avoiding to buy new flats and apartments. The sales peoples are facing difficulties when bargaining with the customers about price. This report is comprised of two broad episodes: where episode one expresses on overview of Real Estate sector of Bangladesh; Episode two consists of two parts, one is the organization part and other is the project part. The core focus of this report is the project part. In the organization part mainly the business profile, basic function, business line, product; features of Greehaniraman Chowdhury Limited are shown. The tropic of the project part is Position of Greehaniraman Chowdhury Limited in terms of different Real Estate Companies in Bangladesh. Through this study firstly I have prepared a brief history of Real Estate Trade in Bangladesh then I have tried to shown the Greehaniraman Chowdhury Limited and other real estate company’s position by considering the major market functions of the real estate industry