Real Estate Business Practices in Bangladesh

Abstract

Like any other country in the world, the housing sector plays an important role both in terms of Bangladesh's economy and the basic human rights of asylum. In addition to providing physical shelter, housing can have a significant impact on residents' lives in terms of efficiency, income growth, increased protection, health, confidence and human dignity. Actually this is call for the awareness and analysis regarding various pertinent issues involving in the real estate housing sector. These analyses include the size and contribution of the housing sector to the economy as well as the vulnerability relate to the people due to unplanned real estate housing. Despite significant growth in the housing sector in the recent past, there is a lack of good research related to the development of this sector. This is compounded by the fact that there is a lack of adequate statistical information. There is a need for real estate sector to meet the housing demand of this huge explosive population. The main focus of this study is the current scenario of the real estate business in Bangladesh. This paper also highlights some of the problems with prospects and high-rise buildings. The study was descriptive in nature and data was collected through primary and secondary sources. The results of this study show that the real estate business has been playing a very important role in providing housing benefits to the unemployed, high and middle and low income people for the last two decades and also created employment for the unemployed people of Bangladesh and made significant contribution to improving the overall economic condition of Bangladesh. Dhaka city has already been exposed to natural hazards such as floods and earthquakes and manmade hazard like fire, but the intervention of some government agencies, such as RAJUK and private housing companies, is affecting the environment in various ways. Not only the real estate company but also the technical person like architect, civil engineer or even flat owner does not panic about the severances of gas chamber explosion, light arrester, lac of space in ground floor, emergency exit stair for fie etc. Though the flat owner are very much cautious about the structural strength of the building. Government and other concerned organization should take step to make awareness among the people also need to apply rules of BNBC strictly.