The demand for these areas has also been fueled by the growing middle class and the influx of foreign investment. The influx of foreign investment has led to a significant increase in the demand for high-end properties, particularly in Gulshan and Baridhara. The high-end property market in these areas has become increasingly competitive, with developers offering attractive incentives and discounts to attract buyers. This competition has led to a significant increase in property prices.
Currently, flats in Gulshan are being sold for BDT 18,000 to BDT 36,000 per square foot. In Banani, prices range from BDT 15,000 to BDT 19,000 per square foot, while in Baridhara, the range is BDT 22,000 to BDT 30,000 per square foot. “The surge in real estate prices is closely linked to the high cost of land due to its scarcity. For instance, real estate companies pay up to six times more for land in Gulshan compared to other affluent areas like Bashundhara,” explained an industry insider. Moreover, within these exclusive zones, certain areas command higher prices. “Flats in North Gulshan are priced higher than those in South Gulshan. Baridhara’s Diplomatic Zone, known for its secure environment, well-maintained surroundings, and proximity to embassies and international organisations, is particularly expensive,” the insider added.
Baridhara DOHS is a well-established and popular residential area within Dhaka, Bangladesh. It is known for its gated community, excellent security, peaceful environment, and high-quality residential options. This combination of factors has made Baridhara DOHS a highly desirable location for families with young children. It offers a safe and nurturing environment where children can play freely and parents can relax knowing their children are secure.
This is a common practice in Dhaka, where developers are constantly seeking ways to maximize land utilization and profitability. The city’s rapid growth and increasing population have led to a surge in demand for housing, driving developers to explore innovative solutions. This has resulted in the development of various housing types, including duplex apartments, row houses, and high-rise buildings.
The demand for residential properties in these areas is driven by factors such as proximity to educational institutions, healthcare facilities, and commercial centers. The presence of these amenities attracts families with children and young professionals seeking a convenient and comfortable lifestyle. The real estate market in Bangladesh is experiencing a period of significant growth, with developers actively seeking to capitalize on this trend.
This practice, she claimed, is a major concern for buyers. Ayesha’s observations highlight a critical issue in the real estate market: the lack of enforcement of building regulations. This lack of enforcement allows builders to operate with impunity, leading to substandard construction and potential safety hazards.
An OC (Official Certificate) is a document that confirms the legal status of a property. It is essential for legal occupancy and property registration or transfer. However, it does not directly affect property prices. **Detailed Text:**
The Official Certificate (OC) plays a vital role in the legal framework of property ownership. It serves as a crucial document that confirms the legal status of a property, ensuring its rightful ownership and facilitating legal occupancy.
Md Wahiduzzaman of REHAB believes that shifting negotiation patterns between property owners and real estate companies have also contributed to rising property prices. “Previously, the ratio was predominantly 60/40, but over the past decade, it has shifted to 50/50,” he explained. Additionally, developers in these areas emphasise the importance of completing projects on time. They believe that timely completion and delivery are essential for maintaining buyer trust and ensuring client satisfaction.
