Housing sector faces setback Notundhara MD

The country’s housing sector is facing passing through continuous catastrophes. This sector, which is one of the basic needs of the people, is now at a standstill.

There is a slowdown in the sale of plots, flats and houses mainly due to high material costs, said a housing sector expert and Notundhara Group Managing Director Dr. Md. Sadi-Uz-Zaman.

Talking with journalists recently Dr. Sadi-Us-Zaman said there is no new investment in this sector. Many companies are giving up plots and flats without making any profit merely to maintain the operational expenses.

Many housing institutions are not able to pay their employees properly. Various obstacles are engulfing the industry whereas the contribution of this sector to Bangladesh’s GDP is remarkable.

Dr. Zaman urged the interim government to take initiative to amend the DAP very soon, and hope that through which this sector will turn around again.

Regarding his own venture, Notundhara Group Managing Director said the housing project Notundhara- New World for New Generations to be developed along the 300 feet Dhaka-Mawa Expressway adjacent to the Padma Bridge.

This environmentally friendly housing project is just 18 kilometers away from Motijheel, the business hub of Dhaka. He said, it has a direct connection with the government school with the project.

Founder of Professional Real Estate Training Institute Dr. Md. Sadi-uz-Zaman, who obtained the country’s first ‘Professional Doctoral Certificate in Real Estate Management’, is being developed under his skillful supervision, a 100per cent environmentally friendly well-planned housing project ‘Notundhara’.

He said, this housing project is spread across three unions of Sirajdikhan and Srinagar upazilas of Munshiganj district. Notundhara Agates Limited, an organization with a locational clearance, highly valued EIA (Environmental Impact Assessment) approval and final environmental clearance from the Department of Environment, is uncompromising in restoring trust with cleanliness.

Notundhara Assets Limited has received clearance/approval from the Dhaka Transport Coordination Authority.

According to the Real Estate Act 2004, the ‘Notundhara’ housing project has received a 100per cent exemption certificate from the district administration.

He said that Notundhara has received the gratitude of Dhaka and Munshiganj district administrations and has received honors and auspicious mementos from the two concerned upazila administrations, and is a trademarked organization authorized to purchase and mutate land according to the land management manual.

He further said that Notundhara, a company registered by the National Housing Authority and ISO 9001-2015 certified, has five and three katha plots.

Each plot of this project is a ‘premium plot’. Invented and named by Dr. Md. Sadi-uz-Zaman, Co-Chairman of the Standing Committee on Land Developers of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), this premium plot with the benefit of open space on three sides has open space on all four sides.

He said that Notundhara has already undertaken the process of preparing approximately 500 (five hundred) plots, which is almost complete.

To restore the confidence of customers in the housing sector, Notundhara is providing put registry to customers by paying only 80 percent of the cost of the plot and is giving the opportunity to pay the remaining 20 percent in installments.

The Notundhara Housing Project has many other civic amenities including a mosque, golden garden, open theater, lake, playground, birds park.

Currently, the Golden Garden, Kids Zone and Children’s Park are fully visible in the project area.

The business leader believes that the first requirement for an environmentally friendly and well-planned housing project is proper infrastructural development and ensuring civic amenities.

Therefore, before the complete shooting process begins in the Notundhara Housing Project, the construction of the five-storey ‘Notundhara Express Lounge and Convention Center’ (DELCC) has started.

Due to the new ZAP, our housing sector has been in a recession since 2025, due to which entrepreneurs have stopped RAJU from passing new plans.

As a result, the number of projects that were supposed to be done during this time has not been as it was.

Dr. Md. Sadi-uz-Zaman said that recently, due to the high cost of construction materials, the price of flats has gone beyond the reach of most people.

However, the high cost of construction materials is being increased by the construction industry. As a result, the price of flats has increased even more.

Again, the Detailed Area Plan (DAP) implemented by the Capital Development Authority (RAJUK) for 2016-35 is spreading fear.