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High-Cost of Flat Registration Discouraging Buyers from Total Registration, Gov’t Losing Revenue


OurtimeBD.com
16.10.2017

Reported by: Anwar Hossain
Written by: Eshan Maitra
Flat buyers are required to pay average of 15% of the buying amount, for registering their flats. Including, verities of tax & stamp fees. In total, it becomes way too much. Even the process is very complex. Thus, buyers just move to their newly bought flats & start living without complete registration, claim the buyers, sellers & developers. They are even forced adapt crooked ways to avoid paying registration fees. Though, few conscious companies prefer not to hand-over flats without thorough registration. Yet, more flats are being handed over without registration, due slump in the real-estate is business. Thus, currently there countless number of registration-less flats. The number is increasing alarmingly. Authorities should reduce the registration cost to 7% of the buying ammount, suggested REHAB Vice President Liyakat Ali Bhuiyan. Even this year, if 20% of the estimated sold flats are not registered. Government may lose about 30 crores taka worth revenue from this sector did not present their framework on a neutral government in the written proposal, but they will submit it later.
EC is arranging dialogues on numerous subjects: reformation of laws, voter list update, for the 11th National Parliamentary Election.
The EC will also hold talks with Awami League on October 18, however, the last dialogue is on October 24.


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