The government is planning the scheme for the low income group of people so they could buy flats under the 20-year repayment.
Housing and Public Works Minister Engineer Mosharraf Hossain revealed the government plan at a seminar in Dhaka today.
As per the plan, a flat buyer would have to pay around TK1.9m during the period considering all 365 days in a year. It has not been, however, made clear about the conditions like what could be the size of the flats.
Dhaka Chamber of Commerce and Industry (DCCI) organised the seminar on “Housing for Public Welfare”.
The minister said another project is also under plan to establish new township in rural areas to discourage people to migrate to the cities as he urged all not to destroy agriculture lands.
He stressed the need for adopting long-term development plan and said: “We should map out a plan for urbanisation like USA, UK and France which has made plan for 600 years.”
Mentioning the double-digit interest rate of housing loans in the country, he said almost all the countries in the world offer 3% interest rate in housing sector.
He called upon the banks to lower the interest rate on housing finance with easy conditions so the poor people could have a roof over their head.
Mosharraf urged the real estate developers to keep the size of flats within 1,200 square feet to bring it within the purchasing capacity of low and mid-income group of people.
DCCI President Mohammad Shahjahan Khan, chairing the seminar, said around 4.2 crore people lives in the cities as per 2011 population census and population growth in the urban areas is 5%.
“In accordance with this fact, civic facilities and infrastructure are not being constructed, making the cities unlivable,” he said.
Housing problems have increased manifold for the rapid growth of our population. He informed that contribution of the housing sector to the GDP is 12-15%.
He urged the government to take necessary steps for gas, water connection and electricity supply as well as financial assistance and easing approval procedures for this industry.