More lenders should come up with low-cost home loans

More banks should think of minimal effort home credit items to permit individuals, especially those having a place with the center pay gathering, to possess flats in Dhaka and its neighboring territories, said a business visionary. 

As of now, four to five private loaning offices, some private banks, and a state-run organization stretch out home advances to clients fundamentally in the capital and some other divisional urban areas. 

"Be that as it may, the quantity of the banks is too little contrasted with the colossal number of clients the nation over," said Toufiq M Seraj, overseeing chief of Sheltech (Pvt) Ltd, a main real estate broker in Bangladesh. 

"On the off chance that new loan specialists approach, increasingly center salary individuals will have the capacity to purchase lofts." 

The land business visionary, notwithstanding, said fortunately a more prominent number of center salary individuals are purchasing pads in Dhaka on account of good bank loan costs. 

The land business endured a blow after 2012 in view of high bank financing costs. As of late, the part has begun grabbing on the back of falling expense of assets. 

Loan costs now extend between 8.50 percent and 9.50 percent, path lower than 18 percent and 19 percent that won before 2016. 

Seraj's remarks came as his organization praised its 30th commemoration a week ago. 

The organization began land business in 1988 and has since conveyed 170 undertakings with 3,500 units in Dhaka. Another 500 units of condos are under development. 

A pioneer in the land business in Bangladesh, Seraj said the center wage bunch still has the chance to purchase a condo of 1,100 square feet at Tk 60 lakh relying upon areas in the capital. 

Flat costs in some luxurious regions, for example, Gulshan, Banani, Dhanmondi, and Baridhara, in any case, are higher than those in different parts of the city. 

Seraj said most real estate brokers are building lofts of 1,100sft to 1,200sft primarily focusing on the working class, while pads over 1,500sft to 2,000sft are for well off purchasers. 

A few organizations are building flats with every single municipal enhancement, for example, swimming pools, parks, instruction offices, and healing facilities. 

As indicated by Seraj, condo costs in Dhaka are no not exactly those in the most costly urban areas on the planet due to a shortage and high cost of land. "Subsequently, engineers need to pay a tremendous entirety to purchase or rent the land." 

The expenses of development materials and work have likewise gone up over the most recent couple of years, pushing up loft costs in Dhaka, he said. 

Seraj, who was an instructor at the Bangladesh University of Engineering and Technology before turning into a land business visionary, said the flat business saw a noteworthy move in 2007 because of a political changeover. 

At the time, many individuals began purchasing lofts even at higher costs primarily to conceal their untaxed cash, he said. 

Seraj additionally touched upon a few drawbacks of the developing division. 

"The part isn't very much directed. Accordingly, clients are being duped by an area of corrupt real estate agents," he said. 

The alleged land business visionaries take cash from clients by making lucrative offers, however they don't hand over the items on time. The picture of the area is spoiled by some terrible organizations, he said. 

As of now, there are 1,200 individuals from the Real Estate and Housing Association of Bangladesh (REHAB). Be that as it may, there are numerous designers that are not individuals from the exchange body. 

"The division ought to be very much managed so clients are not cheated," said the previous leader of the REHAB. 

He drove the relationship for three continuous terms in the vicinity of 2001 and 2006. 

Seraj proposed the administration create Dhaka city with a dream for next 100 years as the quantity of individuals in the city is developing quickly.