Property Registration
Under-pricing causes huge revenue loss
Says finance adviser
Unb, Dhaka
Finance Adviser Dr Mirza Azizul Islam yesterday alleged that under-pricing of lands or apartments during registration that ultimately caused revenue loss to the government."Fees coming from registration, based on the prices of lands or apartments, are unrealistically poor," he said, talking to the newsmen after a meeting with a delegation of Real Estate and Housing Association of Bangladesh (REHAB) at his office. During the meeting, the REHAB delegation led by Engr Mohammad Abdul Awal, urged the government to reduce the interest rate on housing loans and the registration tax to give a boost to the sector. About the appeal to reduce interest rate on housing loan, the Finance Adviser said it is the jurisdiction of the central bank. Talking to the reporters, REHAB president said the registration cost is too high. He said the REHAB urged the government to fix the interest rate on housing loan at 5 percent, which is 15 percent now. Former REHAB president Toufiq M Siraj said the people are now in dilemma about buying lands or property amid the current anti-corruption drive. Justifying the high price of apartments, he said the costs of building materials have gone up abnormally.
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