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Posh areas’ house rent chart to be updated

Holding tax to increase in Gulshan, Baridhara, Banani

Posh areas’ house rent chart to be updated

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The holding tax will increase in Gulshan, Banani and Baridhara areas as Dhaka North City Corporation (DNCC) has decided to update the rate chart of house rent of the three posh areas.    

The authorities concerned have already started the upgradation work of the rate chart of rent for residential, commercial and industrial establishments of the areas.

DNCC officials said the decision was taken to boost the revenue of the corporation.  

On July 12, the decision was approved at the 7th corporation meeting of the DNCC with Mayor Atiqul Islam in the chair.

Local Government, Rural Development and Cooperatives Minister Md Tazul Islam also attended the meeting as the chief guest.

The decision was made after DNCC Ward-4 Councilor Jamal Mustafa proposed a 33 percent rise in the holding tax for the areas at the meeting.  “We have decided to update the rate chart of house rent. If we update the rate chart, the holding tax will increase automatically.  The rate chart was updated in 2008 for the last time. But now the rent for a house in the areas is not the same as it was in 2008,” said Chief Revenue Officer (CRO) of DNCC Abdul Hamid Mia.    

He also said the rent of buildings of the areas has increased many times since 2008, but the holding tax didn’t increase as per.  

Hamid however didn’t mention how much the rate of tax will increase.   

As per the present rate chart of the DNCC, the per square feet rent for residential buildings at Gulshan Avenue is Tk 15-18, Tk 25-28 for commercial buildings and Tk 54-17 for industrial use.  The per square feet rent for residential buildings at Kemal Ataturk Avenue of Banani is Tk 14-16, for commercial use Tk 25-28 and for industrial use Tk 14-16. Besides, the per square feet rent for residential buildings at ‘K’ Block of Baridhara area is Tk 12-14 while Tk 14-15 for commercial establishments.  

DNCC officials said the rent is much higher than the rate chart in those areas.

CRO Hamid also said, “We will update the rate chart by three months and it will be sent to the board meeting. After the approval of the corporation board it will come into effect.”