Land sharing project in Dhaka, Bangladesh

What is land-sharing project?

In Dhaka, landowners and developers join hands to create residential or commercial spaces. Instead of selling their land, owners share it with developers. The developers build apartments, houses, or offices. On the other hand, the landowner gets a share of the finished project.

The developer earns profits from selling the rest. This method is popular in Dhaka because land is expensive. It allows landowners to keep their property’s value and gain modern spaces. Developers benefit by accessing prime land without buying it. It is profitable for all stakeholders.

Important aspects of land-sharing projects

Generally, the land-sharing projects follow an accepted procedure. This procedure brings an air of transparency and fairness for the concerned parties. Here are the aspects:

• Agreement between parties: First of all, the landowner and developer sign a contract. The contract explains how they'll share the project's benefits, like flats or profits. It also covers timelines and responsibilities.
• Project planning: The developer designs the project, such as an apartment building or a mixed-use complex. They coordinate architects and engineers in ensuring quality and safety.
• Government approval: In Dhaka, projects need approval from RAJUK (Rajdhani Unnayan Kartripakkha), the city's development authority.
• Construction: It is a very crucial step. The developer builds the project using their funds and expertise. They use modern materials and techniques to create high-quality spaces.
• Handover and sharing: After completing the project, the landowner gets their share. The developer sells or rents the remaining units to make a profit. That's why it is very profitable.
• Community development: Many projects include schools, parks, or hospitals, making them self-sufficient communities that improve residents' lives.

Benefits of land sharing projects

Land sharing projects bring many advantages to Dhaka. It helps landowners, developers, residents, and the city as a whole. The benefits of this projects are as follows:

1. No need to sell land
2. Modern spaces
3. Financial gains
4. Hassle-free process
5. Affordable housing
6. Modern amenities
7. Efficient land use
8. Economic growth

Main challenges of land sharing projects

These projects in Dhaka offer innovative solutions for urban growth. But it has several challenges. These obstacles, ranging from high land costs to legal complexities, require careful planning and collaboration among landowners, developers, and authorities. Here are the challenges:

• High land prices: Land in Dhaka is very expensive. From 1990 to 2000, land values rose by 22% per year. From 2000 to 2010, they jumped by 74% annually. High costs make it hard for developers to start projects and keep homes affordable.
• Legal and regulatory issues: Getting RAJUK approval can take time. Some projects face delays due to unclear land titles or disputes. Ensuring all documents are legal and transparent is crucial.
• Environmental concerns: Dhaka's rapid growth has harmed its environment. Many projects fill wetlands or low-lying areas, causing flooding risks. Developers must follow eco-friendly practices to protect nature.
• Project delays: Construction delays can frustrate landowners and buyers. Factors like funding issues, labor shortages, or bad weather can slow progress. Strong project management helps avoid this.
• Financial risks: If the project fails or market prices drop, they could lose money. Choosing reliable partners. You should also plan carefully to reduce risks.

Final words

Land sharing projects in Dhaka are a smart way to invest. Landowners and developers work together in this project for profit. These projects are safe, follow legal rules, and offer great returns in Dhaka’s growing real estate market. Join Homeland Abason Limited for trusted land sharing projects in Dhaka.