In Bangladesh, real estate activities are governed by a set of laws and regulations to ensure proper management, transparency, and fairness in property transactions. The primary laws and regulations include:
1. The Transfer of Property Act, 1882
- This Act is fundamental in governing the transfer of property, both movable and immovable. It outlines the procedures for selling, leasing, mortgaging, and exchanging property.
2. The Registration Act, 1908
- This Act mandates the registration of documents related to immovable property transactions to provide legal validity and public notice. It helps in preventing fraud and ensuring clear title of ownership.
- This Act regulates real estate development activities, ensuring that developers adhere to proper standards, obtain necessary approvals, and protect the rights of buyers. It includes provisions for licensing, project approval, and consumer protection.
4. The Building Construction Act, 1952
- This Act provides guidelines for constructing buildings in urban areas. It sets standards for building safety, structure, and design, ensuring that constructions are safe and comply with urban planning norms.
5. The Town Improvement Act, 1953
- This Act empowers the Rajdhani Unnayan Kartripakkha (RAJUK) to oversee urban development and planning in the capital city, Dhaka. It includes provisions for land acquisition, zoning, and development control.
6. The Land Development Tax Act, 1976
- This Act imposes a tax on land development to generate revenue for public infrastructure and services. It ensures that land developers contribute to the cost of urban development.
7. The Environment Conservation Act, 1995
- This Act aims to protect the environment and natural resources during real estate development. It requires environmental impact assessments (EIAs) for large projects to minimize adverse environmental effects.
8. The Building Construction Rules, 1996
- These rules provide detailed guidelines for building construction, covering aspects such as structural safety, sanitation, ventilation, and fire safety. Compliance with these rules is mandatory for obtaining construction permits.