Buying a plot or a flat?

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Offline abduarif

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Buying a plot or a flat?
« on: December 12, 2013, 02:50:18 PM »
If you are thinking of buying an apartment or a piece of land for either residential or business purposes, you need to complete the following legal requirements.


Confirm the record of rights from the Land Office

Land administration system in Bangladesh separates records of ownership and records of revenue as such. We have Land Records Offices for land records, surveys, publication and maintenance of records under the directorate of land records and survey, Ministry of Land.

We also have Land Revenue Offices under Ministry of Land. There are 11 administrative offices in each upazila (sub district). There are 64 districts in Bangladesh but only 61 of them have registration facility.

Three hill districts do not have registration centres. In Dhaka, the district land registration office has 13 Sub-registrar offices under the Ministry of Law.

Conduct mutation on property

Any transfers of titles subsequent to the last survey on Dhaka city must be converted (mutated) to the lat-est survey. From January 2012 city surveys are conducted in Dhaka city instead of conducting Revisional Survey (RS) mutation. This is done by the assistant commissioner of lands (Tahsil) and specific Tahsil offic-es.

In order to obtain this, an application is required to be made to the concerned assistant commissioner of land with particulars of the property. The assistant commissioner will forward the same to the concerned Tahsil office who are responsible for conducting the relevant survey and providing a report to assistant commissioner of land.

Upon receiving the report, the assistant commissioner of land renders the mutation certificate. From Janu-ary 1, 2012 all properties automatically come under City Survey Khatian (Record of rights).

Obtain inspection for RS mutation

The permission is only mandatory when the property is under the control of either the Ministry of Works (National Housing Authority) or Rajuk (Rajdhani Unnayan Kartripakkh). Although the permission is usually granted barring exceptions, unofficial payments are still paid in order to expedite the process and guaran-tee approval.

The buyer should make sure that the property is up to date with payments to the city corporation revenue department, gas utility service, electricity utility service, and the water utility service to make sure that there is no outstanding dues payable so that those liabilities do not transfer to him. These are standard steps and not mandatory for registration.

Obtain the non-encumbrance certificate from the relevant sub-registry office

The buyer should check the legal status of the land (mortgaged or leased or ownership) at the relevant Sub-registry office. From January 2012 onwards, both Sub-registry and Land Revenue Offices provide non-encumbrance certificates. Sometimes land report is required.

A land report gives an idea about the current status and ownership of the land that may include chain of ownership, land tax, land record, registry status etc, whereas a non-encumbrance certificate is used in property transactions as an evidence of entitlement of the property.

Prepare deed of transfer and pay stamp duty

A lawyer may prepare the transfer deed, but it can also be prepared by the parties themselves. The deed must be prepared in stamped paper that should cost 3% of the property value to get it. This represents the stamp duty.

Pay capital gains tax, registration fee, VAT and other taxes at a designated bank

Registration fee is payable to the bank in favour of the sub-registry office and the receipt is to be present-ed at the moment of applying for registration.

The buyer has to pay the local government tax to the concerned city corporation or municipality offices. Furthermore, a capital gains tax (CGT) and a VAT of 1.5% (applicable only for municipal corporation area payable by private housing and flat developers and commercial businesses) have to be paid at this stage. Capital gains tax is not applicable in rural areas for agriculture.

Apply for registration at the relevant Sub-registry

At this stage, the buyer may apply for registration at the Municipal Deed Registry Office, presenting the receipts of payment of the registration and other fees. A certified registration document is obtained within a week for the buyer’s record. The original sale deed/certificate requires about six months to be obtained.

Register the change in ownership at the Land Revenue Office

The change of ownership must be registered in the Land Revenue Office. The property is recorded under the name of the new owner, who is responsible for paying the land taxes from the day the property is transferred.

Source: http://www.dhakatribune.com/law-amp-rights/2013/aug/07/buying-plot-or-flat#sthash.wCTSeadc.dpuf
Abdullah Al Arif
Lecturer
Department of Law
Daffodil International University
Dhaka, Bangladesh

Offline Ferdousi Begum

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Re: Buying a plot or a flat?
« Reply #1 on: December 13, 2013, 10:55:32 AM »
Wish I could buy ... :(

Offline anamika.law

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Re: Buying a plot or a flat?
« Reply #2 on: December 13, 2013, 12:03:17 PM »
We know mam you will buy in near future or far :, that's why sir provided all important information.  :)

Offline Ferdousi Begum

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Re: Buying a plot or a flat?
« Reply #3 on: December 14, 2013, 12:34:17 PM »
Hope so... (apnar mukhe ful- chondon poruk...)  :D

Offline farzanamili

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Re: Buying a plot or a flat?
« Reply #4 on: December 15, 2013, 12:03:19 PM »
thanks for the useful information :)
Mirza Farzana Iqbal Chowdhury
Senior Lecturer
Department of Law
Daffodil International University.

Offline abduarif

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Re: Buying a plot or a flat?
« Reply #5 on: December 16, 2013, 11:49:50 AM »
I would be more than happy if the information comes to your help in real life, not academic life.
Abdullah Al Arif
Lecturer
Department of Law
Daffodil International University
Dhaka, Bangladesh

Offline farzanamili

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Re: Buying a plot or a flat?
« Reply #6 on: December 21, 2013, 12:42:26 PM »
ohh....yes, you are right...for academic life, gaining article point is more valuable than a personal flat :P
Mirza Farzana Iqbal Chowdhury
Senior Lecturer
Department of Law
Daffodil International University.

Offline Ferdousi Begum

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Re: Buying a plot or a flat?
« Reply #7 on: December 22, 2013, 01:20:48 PM »
Agreed

Offline abduarif

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Re: Buying a plot or a flat?
« Reply #8 on: December 26, 2013, 03:13:07 PM »
If I am offered a flat/plot or an article in an international journal, I would happily take the flat.  :D
Abdullah Al Arif
Lecturer
Department of Law
Daffodil International University
Dhaka, Bangladesh

Offline A.S. Rafi

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Re: Buying a plot or a flat?
« Reply #9 on: December 26, 2013, 04:26:39 PM »
mind-stimulating conversation.. enjoyed it all.
Abu Saleh Md. Rafi
Senior Lecturer,
Department of English.
Faculty of Humanities and Social Sciences
Daffodil International University.

Offline farzanamili

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Re: Buying a plot or a flat?
« Reply #10 on: January 18, 2014, 11:02:37 AM »
@Arif Sir....Joutuk deya abong neya duitai dondoniyo oporadh  :D
Mirza Farzana Iqbal Chowdhury
Senior Lecturer
Department of Law
Daffodil International University.

Offline abduarif

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Re: Buying a plot or a flat?
« Reply #11 on: January 18, 2014, 04:32:42 PM »
I have not mentioned that the offer is from in-laws! But, you pointed out a very good issue. What happens if a Father in Law is an editor of a renowned journal and promises to publish articles of someone who agrees to marry his daughter. Will that come under dowry?
Abdullah Al Arif
Lecturer
Department of Law
Daffodil International University
Dhaka, Bangladesh

Offline Ferdousi Begum

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Re: Buying a plot or a flat?
« Reply #12 on: January 18, 2014, 06:33:37 PM »
It will be a dowry in the eyes of law, cause, anything in the name of having been married includes the writing of an article too..  :D

Offline R B Habib

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Re: Buying a plot or a flat?
« Reply #13 on: January 19, 2014, 03:01:14 PM »
Interesting post and enjoyed it all.
Flat &/or an article????? ??? ??? Cast a vote.
Rabeya Binte Habib
Senior Lecturer,
Department of English
Faculty of Humanities and Social Sciences
Daffodil Int. University

Offline farzanamili

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Re: Buying a plot or a flat?
« Reply #14 on: January 20, 2014, 09:59:38 AM »
@Arif Sir....I agree with Ferdousi Ma'am....it will be considered as a dowry in the eyes of law.....:D :D
Mirza Farzana Iqbal Chowdhury
Senior Lecturer
Department of Law
Daffodil International University.