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Housing extravaganza pulls huge crowd

STAR BUSINESS REPORT
The second day of the three-day housing extravaganza in Dhaka experienced a huge response from common people.
Different income group people came to the fair to have an idea about prices, locations, sizes and designs of apartments, plots and commercial spaces presented by various real estate firms at DBH Property Fair-2003.
This time there is a crowd of real buyers at the fair, said Ishtiaq H Chowdhury, head of Operations of Delta Brac Housing Finance Corporation Limited (DBH).
The number of visitors at the housing fair, being held at Dhaka Sheraton Hotel, is on the rise. On
the first day, more than five thousand visitors came to the fair whereas the second day observed more than that, said the organisers.
Unlike other two fairs held in 2000 and 2001, this time developers have come up with projects not only for upper income group people, but also for middle and lower middle income group ones.
There are apartments of 587 square feet to 3,300 square feet with different prices. The lowest price of a 917-square foot apartment of Japan Garden City is about Tk 14 lakh.
Price of a 785 square feet apartment of Sheltech's Starlit Project at Uttara ranges from Tk 12.20 to 12.50 lakh. The firm has offered a discount of Tk 50 thousand for booking during the fair.
Sheltech's 1,975 square feet apartment at Gulshan costs Tk 43.50 to 45.50 lakh.
Shamoly Condoville's apartment costs lowest at Tk 10.50 lakh.
Brac Concord Lands Limited received good response as its 16 plot got booked till noon yesterday. Booking money for Brac Concord's plot is Tk 15,000. The company offers a discount of Tk 5,000 for each katha and this offer will remain till June 7, said an official of Brac Concord.
Visitors can have the opportunity to take counsel on home loan at Asset Development stall.
DBH, the organiser of the fair, is providing prospective buyers with spot loan. So far the private sector housing finance company has sanctioned more than Tk 12 crore loan. The interest rate of the loan is 15 per cent during the fair.
Many developers offer discount on booking of apartments and plots. Moreover, others offer special gifts like colour televisions, refrigerators and mobile phones.
The area for apartments and commercial spaces covers Lalmatia, Shantinagar, Segunbagicha, Moghbazar, Siddeswari, Eskaton, Dhanmondi, Uttara, Gulshan, Banani, Baridhara, Shyamoli, Mirpur, Green Road, Armanitola, Hatkhola, Fakirapool, Elephant Road, Karwan Bazar, Farmgate, Mohammadpur, Laxmibazar and Mohakhali.
Many visitors were seen collecting prospectus from the developers. Many said they will take decision on the last day of the fair.
A large number of visitors said prices of the apartments are very high. They also said the interest rate of the housing loan of DBH is quite high.
An interactive session between prospective buyers and developers will be held today from 9am to 1pm. The fair ends today at 9pm.