REAL ESTATE AND CONSTRUCTION MATTERS PRACTICE IN CLP
Real estate had made a mark in the very first year of its development with jumping to noticeable quality as prime. In Bangladesh Real Estate sector is an encouraging area and is rising over the years. There has been a noteworthy recovery in this industry after the sharp downfall due to economic and political instability. Since the market is developing, and increases in demand for housing, growth of middle class group and rising per capita income this is the right time to invest in a property.
Explicit terms and conditions with respect to purchasing and selling of any property and both parties must submit to them. Thus, we should not exhaust with the things you know and spotlight on things that you may not be aware of generally. Next, the developer must handover the property, registration and the main deed to the purchaser is not more than three months’ time period. Likewise, during transfer, if the property has any deviation in regards to the size or space, the cost must be balanced within three months of the handover. In this manner, next time when you purchase property remember these things.
Both Landowner and Developer/purchaser will not commence or run construction work of the building or development work of the land project without obtaining the plan approval from the appropriate authority of the Government like RAJUK, CDA, KDA, RDA etc.
Additionally Buyer and seller should not enter into any agreement for sale of an apartment or plot of land with any customer nor advertise any project with the intent to sell without getting the plan of the building or the land project approved by the competent authority of the Government.
CLP law firm at Gulshan, in Dhaka Bangladesh deals a complete kind of construction and property-related legal services for Land owners, builders, developers, investors, landlords, both official and isolated lenders and mortgage investment corporations.
Team CLP here to assist you with its immense experience in this field of real estate provides a property-related joint-ventures, sale and leaseback, mergers and acquisitions connecting real estate companies, broad range of commercial and corporate real estate services including all aspects of property acquisitions, divestment, tenancies leases agreement and the allied legal due diligence exercises.
Team CLP frequently provides tactical advice on complex and extraordinary value property acquisition, sale and financing transactions. Our extent of experience combined with extensive resources supports us to form a real estate squad with the appropriate talents and expertise in providing advice of the maximum quality.
REAL ESTATE PRACTICE IN CLP FOR DEVELOPER
Real Estate Developers have to be committed towards the enhancement and growth of the Real Estate Sector of Bangladesh. If they recognize that for sustainable long term growth of this sector, they must conduct their business with a great proficiency, equality, honesty and ethics. Out of the all the parties in the market, a real estate developer has to deal with clause VI. B of the Memorandum and Articles of Association of the Real Estate Housing Association of Bangladesh incorporated under the companies ACT, 1913 (new 1994) the most. Rules and regulations are much rigorous for the real estate developers. For example, if you want to enter the market for commercial purpose, you will have to produce the following documents to the concerned authority for registration.
Tax Identification Number (TIN)
VAT Registration Number
Credentials of experts in your company
Memorandum of Association, Article of Association and Certificate of Incorporation
REHAB Membership Registration Copy
CLP at Gulshan in Dhaka Bangladesh helps new investors, financier, owner, developer on their land related matters including property due diligence (entailing title verification, encumbrance search, land ceiling, permissive land use, construction development) pertaining to ownership and occupancy, leasing, stamping and registration of documents, zoning and permitted usage of the properties, vital aspects regulating construction and development.
REAL ESTATE PRACTICE IN CLP
In case of outright purchase of a piece and parcel of land for development of an apartment complex or land development project, Team CLP helps their clients due diligence to ensure that the land is dispute free, unencumbered and the seller has clear title to the land.
In the event of joint endeavor advancement with the Land Owner of a piece and bundle of land for an apartment building, CLP will assist their client that a deed of understanding is made with the Land Owner obviously indicating the rate offer of the Land Owner and the rate offer of the purchaser or developers in the finished structure. The apartment to be allotted to the Land Owner must be distinguished appearing surmised size of the apartment. A schematic graph should be attached to the deed of understanding for clearness. The said deed of understanding must stipulate the technique for settlement of debate between the Land Owner and the Developer.
Our Land and Real Estate practice covers a wide range of services such as:
Drafting, look over & negotiating various property documents.
Legal opinion by vetting all property related documents.
Transaction support for all types of real estate schemes including due diligence and title search.
Arbitration and Litigation relating to property related disputes.
Assist and Advice on issues relating to stamp duty and registration.
Advice on matters relating to land tenures including agricultural land issues
Foreign Direct Investment in real estate.
Drafting and reviewing contract
Negotiating and litigating landlord/tenant disputes by serving Legal Notice.
Team CLP at Gulshan in Dhaka Bangladesh is devoted and dedicated on working inside short due dates that customers are now and again looked with. We provide high quality legal service and advice in the area of real estate and construction since long. We strive to deliver legal service and advice on all legal aspects of real estate investment under the Laws of Bangladesh. Our team of real estate lawyers has extensive experience on various types of real estate project in Bangladesh. Our key specialized topics incorporate, acquisitions and divestments, sales, purchases and other transfers of real estate and real property; legal aspects of rental property and landlord issues; tenants’, renters’ and homeowners’ rights; title to real property; settlement of claims against property rights; developer and developer-group cost-sharing agreements, development and advancement financing, project management and construction agreements, telecommunication access arrangements, syndicated property investments and commercial and retail leasing.
Team CLP additionally draws on the experience of the Business Law Practice. We give guidance on organizing land co-speculation or joint venture project, raising capital, setting up a suitable business vehicle and verified loaning. CLP team assure their client rapidly assemble a multi-disciplinary group of experienced business real estate specialists to address a diverse range of real property needs.
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House: 39, Road: 126 (3rd Floor)
Sunday to Thursday
10:00am – 07:00pm