The Real Estate and Housing Association of Bangladesh (REHAB) has demanded an immediate ban or strict regulatory oversight on unregulated land-share housing businesses, warning that the unvetted business model has already victimized thousands of buyers and threatens to trap ৳50,000 crore in long-term litigation within the next two to three years.
Addressing a press conference at the CIRDAP Auditorium in Dhaka on Sunday, November 8, 2026, REHAB President Dr. Ali Afzal disclosed that as of September 30, 2026, 9,823 lawsuits related to land-share housing fraud were pending across courts, directly affecting approximately 40,000 buyers and locking up ৳12,000 crore in disputed funds. REHAB executives asserted that unauthorized individuals and entities are collecting public funds by selling land shares and promising specific flat allocations without verifying land ownership, structural engineering plans, legal construction permits, or tax compliance (VAT, income tax, registration fees).
Read nextWorld Bank Approves $300M Loan to Enhance Quality in Bangladesh's Primary Education SectorHighlighting that the real estate and construction industry accounts for 15% to 16% of Bangladesh’s GDP, supports 300+ backward linkage industries, and employs 50 lakh citizens, REHAB leaders placed a 6-point demand charter to the government. Key demands include halting new sales in unverified projects, conducting independent legal and technical audits of existing land-share buildings, investigating fake deeds and double-selling fraud, and establishing strict oversight by certified architects and structural engineers.
— Daily Best News Desk • Fearless in the search for truth
Reported by Staff Reporter • Edited by the Daily Best News desk. Send corrections to [email protected].
