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Realtors call for faster building permission

Star Business Report
Realtors yesterday urged the government to set up a one-stop service cell at the earliest to streamline the approval process for building plans.
At present, a housing company has to go through 16 government agencies to get approval for its building plan in the metropolitan area.
The process takes 1-1.5 years to complete and entails additional costs, Liakat Ali Bhuiyan, vicepresident of the Real Estate and Housing Association of Bangladesh (REHAB), said.
"We are often unable to hand over the apartments to customers on time due to the drawn-out process to get planning permissions."
A one-stop cell would cut down the timescale to three months, he said.
Rabiul Haque, a senior vice-president of REHAB, said the housing and public works ministry should set up the one-stop cell for the sake of the real estate sector's development.
"We can avoid many of the misunderstandings that now take place between the apartment buyers and sellers if the government accelerates the approval process." The comments came at a press conference to announce the REHAB Winter Fair 2014, set to begin on Wednesday at the Bangabandhu International Conference Centre in Dhaka. The five-day event will be inaugurated by Housing and Public Works Minister MosharrafHossain.
A total of 145 real estate companies and building material suppliers as well as five financial institutions will take part in the fair, said Haque, also the chairman of the fair's standing committee.
No member will be allowed to display unauthorised projects at the exhibition, he said, adding that a team comprising officials from city development authority Rajuk and
REHAB will monitor the authenticity of the projects showcased at the premises.
If any illegal project is found, the monitoring cell of Rajuk will remove the stall from the fair venue; said Haque.
The exhibition, which will remain open from 10am to 9pm, will costTk 50 for single entry and Tk 100 for multiple entries.
The association also took the opportunity to voice out its demand for low-cost loans and more housing projects under public-private partnership.
Real estate now contributes around 7 percent to the GDP. It employs around one lakh skilled people and another 35 lakh in the backward linkage industries, according to industry people.