Real Estate Law in Bangladesh | Law of Construction Matters | A complete overview of Real Estate in Bangladesh

This post in will explain in details the Real Estate & Construction Law in Bangladesh | Law of Construction Matters | A complete overview of Real Estate in Bangladesh | Everything about property law that you need to know and be aware of with diagrams and infographics.

Real Estate Law in Bangladesh 

Real Estate Development and Management Act 2010 is the authoritative act in regards to Real Estate Law in Bangladesh. In the act Section 2 explains the registration process of Real Estate Developers and their due responsibilities. (Real Estate & Construction Law in Bangladesh )

Registration Requirements for Real Estate Developers in Bangladesh 

Real Estate Development and Management Act 2010 is the authoritative act in regards to Buying, Selling, Transferring of Real Estate in Bangladesh Real Estate Law in Bangladesh. In the act Section 3 explains the registration of buying, selling and transferring process of Real Estate Developers and their due responsibilities. The buyer or seller can not adjust the quoted price as set out in the deal. The sum can, however, be changed later if the parties agree to jointly use better materials for the land. First, in no longer than three months, the owner will sign over the land, registry and principal deed. Additionally, if the property has any difference with respect to size or volume after sale, the price must be changed within three months of the transfer. So keep these things in mind when you buy a property next time in Bangladesh.

 All Landowners and Developers / Purchasers will not initiate or carry out construction work on the land project’s construction or development work without receiving design permission from the government’s appropriate authority such as RAJUK, CDA, KDA, RDA, etc.

The Property Contract in Real Estate Law of Bangladesh 

For a general landlord in Bangladeh, there has to be a legal property contract for any trade. Again it’s a common thing, too. As a homeowner, he or she will obtain for his / her possession a specific portion of the apartment building. But, if the owner wants to auction off his share’s apartments, he will have to enforce an attorney’s power and give the developer the right to sell his share of the house. Instead, as a proprietor of his new apartment, he is allowed by the owner to receive one year of maintenance facility. Additionally, if any errors arise within two years of the handover, the contractor must repair the damage from their wallet.

Real Estate Law For Developers in Bangladesh 

Real Estate Developers have to be committed towards the enhancement and growth of the Real Estate Sector of Bangladesh. If they recognize that for sustainable long term growth of this sector, they must conduct their business with a great proficiency, equality, honesty and ethics. Out of the all the parties in the market, a real estate developer has to deal with clause VI. B of the Memorandum and Articles of Association of the Real Estate Housing Association of Bangladesh incorporated under the companies ACT, 1913 (new 1994) the most. Rules and regulations are much rigorous for the real estate developers. For example, if you want to enter the market for commercial purpose, you will have to produce the following documents as stated above to the concerned authority for registration.

How ‘Tahmidur Rahman & TR Barristers in Bangladesh Associates’ helps the purchaser of any land in Bangladesh:

Tahmidur Rahman- TR Barristers in Bangladesh, Law Firm in Dhaka assists buyers, financiers, shareholders, developers on their land-related matters like property due diligence (domain identification, encumbrance check, ground limit, permissive land usage, building development) related to ownership and occupancy, lease, stamping and registration of papers, zoning and permissible use of lands, essential ambitions.

 Legal Services Offered by Firms in Regards to Real Estate in Bangladesh

Our real estate lawyers department has extensive experience in Bangladesh on different types of real estate ventures. Our main specialist areas cover acquisitions and divestments, selling, investments and other real estate and real estate transfers; legal aspects of residential property and landlord issues; landlords’, renters’ and homeowners ‘ privileges; real estate title; resolution of property rights claims; cost-sharing arrangements with investors and shareholders, growth and expansion financing etc.

Team Tahmidur Rahman | TR Barristers in Bangladesh additionally draws on the experience of the Business Law Practice in its practice of Real Estate & Construction Law in Bangladesh . We give guidance on organizing land co-speculation or joint venture project, raising capital, setting up a suitable business vehicle and verified loaning. TRW team assure their client rapidly assemble a multi-disciplinary group of experienced business real estate specialists to address a diverse range of real property needs.