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Mahadi Hasan Badhon
Implementation of Rajuk-Uttara apartment project (3rd phase) is being delayed as the authorities concerned have not been able to sell their already completed flats in due time.
Besides, the city people are not showing interest to purchase the flats as the authority concerned is charging skyrocketing prices.
Besides, as the Malaysian government has been given the task to implement B and C blocks of Uttara 3rd phase project, the project is increasing gradually. The total project has been divided into three blocks [A, B and C] and most of the work of Block-A has completed while the rest of the work of this block will be completed by December this year.
“We still hope that the work of whole project will be completed by 2025,” Anwar Hossain, Director, Uttara 3rd phase project told Bangladesh Post.
Initially, the project cost was estimated at Tk 9030.72 crore with a target to be completed within June 2016. However, the estimated project cost has been augmented to Tk 10,902.21 crore. However, progress is very little.
Anwar Hossain said their project is divided into three blocks, in which, the construction work of Block-A has been done with RAJUK’s own funding, and Block-B and Block-C will be done on G2G basis. “We are still in the dark about Malaysian government’s initiative and when that county will start work to complete the B and C block. The Block-B and Block-C have not yet been handed over to the Malaysian government as yet,” he said.
However, he said, they are expecting the Malaysia government likely to begin the work within one and half years.
“And the project work will be handed over to the country, it needs more than four years to complete the construction work,” he added.
About the project cost, he said, “As the project duration has increased, the project cost will also increase.”
About the construction work of A-Block, he said, “We have already completed most of the work, rest of the development work will be completed by December this year.”
Some 6,636 flats in Block-A have been completed while some 3,200 buyers have got User IDs of the flats, 550 buyers have got keys and 20 to 25 families have already begun residing in these flats, he added.
To a question, Anwar Hossain said that if anyone pays 50 percent of the total price of a flat, he/she will get the key to that flat. The remaining 50 percent has to be paid within eight years in eight instalments at an interest rate of nine percent.
“We are very eager to sell our completed flats, adding that they are facing difficulties to sell their remaining flats of Block-A”, said the project director.
The price of the flats has been fixed at Tk. 4,800 [previously 3,500] per square feet in Block-A while the price will be considered at Tk. 4,500 for B and C blocks, he said.
Is this flat for the low or middle class? In his response to the question, Anwar Hossain said, “It’s actually for higher middle class people, not for lower or middle. When the flats of B and C block are completed, those will also cost more than Tk 65 lakh, including Tk 15 lakh government tax.
Some 7,224 flats each of 1050 sq. feet and some 6,300 flats each of 850 sq. feet will be constructed in B and C blocks respectively.
The project was a part of the government’s plan to build a total of 20,160 flats at Uttara. To this end, the construction of 6,636 flats of 1276 sq feet in Block-A has completed.
In line with the decision of the government to provide flats for low income groups of people, RAJUK took the initiative to build flats at Uttara in the capital. However, it was unable to ensure that prices of these flats would remain within the financial ability of the targeted people.
Shamsun Nahar Eva, customer care officer of the project, told Bangladesh Post, “If anyone wants to purchase a net 1276 sq. feet, he must pay a total amount of Tk. 8,479,000 at a time. But if anyone wants to pay in instalments, he must pay Tk. 4,000,000 by 2019. The rest of the money has to be paid in eight equal instalments; nine percent interest will also apply with each instalment in this regard.”
When asked about flats being provided at cheaper rates for people of low and middle income groups at B and C blocks, Eva said, “It will take 10 more years to complete those flats”.
A net 1276 sq. feet flat is considered to be the gross area of 1654 sq. feet. Although 1276 sq. feet flats, the prices of those flats are charged according to the gross area.