Staff Correspondent

Government has approved the Detailed Area Plan (DAP) to ensure sustainable development of the Capital. However, Developers count FAR in the new DAP as a big challenge.

They came up with this remark at the FBCCI Standing Committee on Real Estate and Housing held on Sunday at the FBCCI office. Businessmen said, “according to the new DAP, we can’t build more than 4 to 5 storied where we could build 8 to 10 storied buildings before even if there were no wide roads”. Real Estate sector is going to face a crisis, they noted.

Earlier, the land registration fee will be determined according to the market price, which is going to be another challenge for the construction sector, committee members said.

Speaking as the Chief Guest, FBCCI President Md. Jashim Uddin said, there are opportunities to discuss with policy makers about challenges and way forwards. Before that, business owners should acquire deep analysis about the new DAP, He suggested.

Director In-charge of the committee and REHAB President Alamgir Shamsul Alamin said, “there many good aspects in the new DAP; some complications are still there.

FBCCI Vice President Md. Amin Helaly urged the policy-makers to work with the issues businessmen face as challenges for the development of this sector. He urged REHAB to be strict with dishonest entrepreneurs in the housing business.

Committee Chairman Liakat Ali Bhuiyan Milan said that this sector has already fallen into crisis due to high prices of construction materials. He called for making the new DAP business friendly.

FBCCI Director, MGR Nasir Majumder, Shafiqul Islam Vorosha, Bijoy Kumar Kejriwal, Hafez Harun, Abu Motaleb, Akkas Mahmood, Secretary General Mohammad Mahfuzul Hoque, Commmitte Co-chairmen Mohammad Nizam Uddin Jitu, Mohammad Ali Deen, Kamal Mahmud, AFM. Ubaidullah and other members were present at the meeting.