The Best Way to Invest In Real Estate
The ever-growing cosmopolitan Dhaka is in high demand in creating living space. Living luxury has become a compulsion when it comes to living in Dhaka and when it comes to investment, everyone has their perspective about it. The phenomenon is making money out of an investment in the real estate sector. The world is getting older and the livable space has shortened over the epochs, but none of us has realized that one day the audacity of consuming livable space of other species shall become a suicidal mission by humans and the wrath of Mother Nature shall be upon us. Time to think about where to invest and how to invest
Builders and Construction firms are shaping our cities and they are one of the key master planners for iconic structures. But a city’s future does not always rely upon the skyscrapers or iconic structures, it is about usability, making lifestyle easier and convenient for its inhabitants. If we compare Australia and China where I visited very frequently over the last two decades, the difference is very visible. The way Australia planned and shaped their cities or the cosmopolitan areas, is now outdated due to the growing demands where the buildings are mostly two-storied or a suburban area is full of townhouses. China is unlikely in another way around, it planned for the growing demand for livable space in the cities and their policy was to make every family an owner of a flat. So now the Chinese people are not renting and they have their property. That’s how the Chinese govt. is utilizing its resources and creates synergy in the economy. In Dhaka city whatever the areas are like Uttara, Bashundhara, Baridhara, Mirpur, Banani, Mohammadpur, Khilgaon, or at Diabari, you will find more than 90% of population is migrated from different parts of Bangladesh and they rent their living place. It is not that they cannot effort a home or they don’t belong to the area, rather it is because they have no option without renting as the developer companies are unable to offer them according to their need. The developers are always partaking in wishful discerning of the elite or semi-elite class. So the middle class and lower middle class is being always denied. Floorfly is to change the paradigm and wish to bring changes for believing its motto “every life deserves a living space”.
But where to invest if there is no supply according to demand? Every innovation is dealt with troubles and the question has its answer. But finding the right place to invest may become very ambiguous and life-threatening if it is not taken seriously.
Nowadays there are groups who get bunched up together and purchase a piece of land and they together wish to build a structure and often it is called shared development. Should you invest in here just to live? Are you aware of its outcome and future or are you sure that you will get what you wanted? Who to blame if something goes wrong? Who is among you shall be held responsible? Why and by what laws the person shall abide by the group? Who to check quality or how to manage the very detail of micromanagement of erecting a building? There are hundreds of questions and confusion when it comes to shared developments by so-called shareholders or inviters.
When it comes to the terms of investing, it means an achievement where you need to ensure maximum ROI. You have to be visionary or to counsel the experts to make a secure investment in the real estate sector. Look out for the DAP (Detail Area Planning) of RAJUK, City Planning, connect with people who are engaged in city designing may give you a clear picture in which area you should invest either for living or to maximize your ROI. Look out for that particular area’s land value, find it out whether it is a leasehold property or a privately held property. Leasehold properties always pay more in the future than privately held properties. Have your own gut’s feeling, talk to your Sales Agent who is known to you for years. After considering all the facts involved then decide where to invest. The already grown up populated area will miss its beauty in 4-5 year time because of its old perspective view. Modern architecture shall be implied in the new areas and more innovation shall be practiced in the developing areas. Diabari in Uttara, Tongi in Gazipur, and Basila in Mohammadpur could be your next destination for either investment or living.
Before investing in the Real-Estate one must consider the top ten factors which matter the most:
- Background of the company or the person from whom you intends to buy
- Achievement history
- The property registration process and history
- Rajuk approved FAR (Floor Area Ratio) wise carpet area
- Know how much space is taken as a common area (in most of the cases corruption begins here)
- Handover time and related clauses in the Sales Deed (this is the most tricky part)
- You are not buying a piece of cloth, so you must meet the owner of the company or the person whom you are purchasing the property
- You must know who is signing the Sales Deed if it is other than a person and on behalf of a company; ask them to show the “Board of Resolution”
- Have a clear understanding of the area and its potential
- Make sure you get professional advice before purchasing your property
Thank You dear.