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Apr, 18 2018

Associations Demands Reducing Property Registration Fee

The association representing developers and builders said, around 14 to 16 percent of a property's price is now charged as registration fee.

Associations Demands Reducing Property Registration Fee

Realtors show concern saying, the government should reduce the property registration fee to 7 percent from the next fiscal year to help the mid-income families to buy flats.

A pre-budget meeting was fixed by the Real Estate and Housing Association of Bangladesh (REHAB) and the demand with the National Board of Revenue at the latter's headquarters in Dhaka.

The association representing developers and builders said, around 14 to 16 percent of a property's price is now charged as registration fee.

The REHAB said, the high registration cost is disappointing many flat and plot buyers from registering properties properly and it is leading to a huge loss of revenue for the government.

The association also recommended that the government should allow investment of confidential income in the real estate sector without any question for the next five years. Presently, such investment are allowed on payment of a certain amount of tax, depending on the location of the properties.

The REHAB also recommended decreasing registration cost for transfer of old flats.

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