REAL ESTATE BUSINESS New rule for Cox's Bazar, Kuakata

In an effort to develop Cox's Bazar and Kuakata municipalities as well-planned tourist resorts, the government has introduced a new rule for real estate business in the coastal areas.

bdnews24.com
Published : 5 May 2011, 05:14 AM
Updated : 5 May 2011, 05:14 AM
Dhaka, May 5 (bdnews24.com) — In an effort to develop Cox's Bazar and Kuakata municipalities as well-planned tourist resorts, the government has introduced a new rule for real estate business in the coastal areas.
Under the new rules, realtors will have to take permission for their business from five-member committees headed by the respective deputy commissioners instead of the municipalities.
The mayors of the respective municipalities are members of the committees.
Housing and public works ministry issued an order in this regard on Thursday.
The order comes in the wake of unplanned expansion of structures in the two important municipalities.
It says the authority of the two municipalities to provide permission for real estate business has been revoked as per article 4 of the 'Real Estate Promotion and Implementation Act – 2010'.
The areas that will come under the purview of the new order are Cox's Bazaar Sadar, Chakoria, Moheshkhali and Tekna'f municipality, and Kuakata municipality of Patuakhali along with adjacent areas of Latachapali, Gangamati, Kauwarchar, and Charchapali Mouja.
The order, however, says the registration rules for the real estate business will remain unchanged.
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