REHAB seeks indemnity on undisclosed money

Realtors Saturday have sought indemnity on investment of undisclosed money in housing sector, reduction in fees on registration of flats and plots and Tk 200 billion fund for the sector with single digit interest in the budget for financial year 2015-16.
"We have long been demanding indemnity on investment in housing sector, reduction in fees on registration of flats and plots and Tk 200 billion fund. We hope the finance minister will consider it in the budget," REHAB general secretary Md Wahiduzzaman said at a press conference.
The press conference was organised to announce holding of REHAB summer fair in city.
In the pre-budget discussion, realtors demanded indemnity on investment of undisclosed money in the housing sector.
Mr Wahiduzzaman said large apartments will be costlier due to new proposal in the budget.
In his budget speech, Finance Minister Abul Maal Abdul Muhith proposed VAT revision for apartments.
He proposed 1.5 per cent VAT for flats up to 1,100 sq ft, 2.25 per cent for apartments of 1,101 to 1,600 sq ft and 4.5 per cent for those over 1,600 sq ft.
The present rate of VAT on flats is 3 per cent irrespective of their sizes.
The four-day Real Estate and Housing Association of Bangladesh (REHAB) summer fair will begin from June 9.
The fair will remain open to all from 10:00am to 9:00pm till June 12 at Bangabandhu International Conference Centre in the city.
A total of 150 realtors will set up stalls at the fair ground. There will be 28 organisations of building material manufacturers, financial institutions etc.
Reading out a written speech, the REHAB general secretary said housing and public works minister Engineer Mosharraf Hossain will inaugurate the eighth summer fair.
The press conference was also attended by the organisation's senior vice-president and fair organising committee chairman Rabiul Haque.
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