1. House Finance
In perspective of Sylhet
This report is prepared based on the prospective view of
house finance in Sylhet market. We have tried to
demonstrate the contemporary Market situation and target
market.
Akram Helal
Financial Consultant
Sylhet Uposhohar Kiosk
1/18/2014

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CHAPTER 1: INTRODUCTION
At present real estate sector (RES) is one of the booming sectors in Bangladesh as well
as in sylhet. Day by day as time passes on, this sector is becoming healthier since the
substantial growth of population is creating a tremendous housing problem and due to
the increase in demand of commercial spaces this sector has come into being. This
sector provides an integrated and planned package to resolve these problems.
1.1 Purpose
This report briefly reviews on the RES in Sylhet for recent years and recommends for launch
Mortgage loan in Sylhet.
1.2 Scope
The RES has so far spread its wings over Dhaka, Chittagong, Khulna, Rajshahi and Sylhet. This
report focuses only on the flourishing of real estate business in Sylhet and the real estate
developers, especially the prominent ones.
1.3 Limitations
This report has been prepared based on secondary data. This report does not include some of
the problems created by illegal and unfair practices of very few of the developers, which is
damaging the image of this sector.
1.4 Assumptions
Recommendations of this report are based on the assumptions that, this is a high time to start
Mortgage Loan in Sylhet.

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CHAPTER 2: PROSPECT OF REAL ESTATE SECTOR IN SYLHET
The concept of RES is developed to resolve the residential facility which is a big problem in a
densely populated country like ours. Especially the cities where unavailability of land tends to
raise the tendency of high rise apartments rather than private dwellings.
2.1 Existing Housing Situation of Sylhet
At present the Real Estate Sector is growing rapidly in Sylhet market. People are more
comfortable about buying the ready flat than private dwelling. As this contains less cost and
labor. If we take last five year data we can see there are so many builders which arise and
successfully sold their project. There is a reason behind this, the green land near town is not
available as per demand so Flat are getting more popular now a day. Almost every established
Doctors and corporate persons are purchasing Flat with the help of bank finance.
2.2 Why Sylhet market for mortgage?
In Sylhet, the rate of urbanization is very high further aggravated by high population growth
rate and rapid rural-urban migration. It is also mentionable that different kind of industries are
growing quickly in this city so people are coming in to this city from different area and they
want a permanent investment so the need of Flat are growing rapidly.
2.3 Real Estate Development
In Sylhet the conditions of the building are very good as the company higher the market best
engineers and also they use good material on construction like roads from BSRM/ KSRM
cement from LAFARGE/ CEMEX etc. There are so many projects which are fully sold. The price is
still on comfortable range.

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Chapter 3: Verification
As we know Verification is a mandatory option for mortgage financing. So, for verification of the
asset there are available two options. One is it can be verified by the bank staff and his
respective manager and second one Is it can be verified by third party agent. As other banks
and NBFI are landing this kind of financing in the current market so there is lots of third party
agent is available in the current market. So in this sector our bank can stay in a relax mode as it
can find one or more categorize agent in the current market.
Chapter 4: Legal Side
There is three approver available for approve the plan in Sylhet city. Those are
i) National housing authority
ii) City corporation
iii) Jaila Proshashon
National housing authority approves the plan for Upposhohar area. Jaila Proshashon approves
plan for Housing state area and Sylhet City Corporation approves the other plan of the city.
Rater than that other documents are available as per bank requirement.

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Chapter 5: Properties Available for Landing
At present there are so many developer company is available in Sylhet market. Among all them
some are very high-quality developer and some are already enlisted in our existing categorize
list. Please find below details for that.
Quantum Properties:
This developer is already enlisted in our developer list. They have only one project in our city
and its location is inside the city corporation. They have already completed above 50% work of
that building will handover very shortly.
Rupayan Properties:
Rupayan is also enlisted in our list and they have started two projects in Sylhet and both are
located inside the city corporation. One of them is residential and another is commercial. The
work progress for residential project is almost 40% done and commercial project is 70% done.
Kuakata asset:
This is not listed in our list. But the company is more reliable and started their project
from2012. The project located at EIDGAH which is inside the city corporation. The projects work
is in progress.
Summite Properties:
Summite properties have completed their first project and hand over it successfully. Very
recently they have started their second project at DARGAH.
Multiplan:
Multi plan is operating their project science 2005 and already handover their 50% flats and
others are under construction. This is located in UPOSHAHAR and recent time UPOSHHAR is
very suitable place for living.
Mission group:
Mission group is another renowned real estate group in Bangladesh. They have started two
projects in Sylhet and both are located inside the Sylhet city corporation.
ARK Real estate
This is a renowned real estate group in Sylhet. Their project is located at Zindabazer which is a
very good location for Sylhet. The current status for their project is almost 50% sold out and
30% of the project is already handover.
Barbhuiyan Properties:
This company covers a lot of known face with it. They have already completed two project
which are located in Zindabazer. Currently they have started another two project in hand and
will start shortly.

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Marlin Builders
This group has almost 4 projects throughout the city and leading the market very smoothly. All
the projects are located inside the city corporation.
Apon properties
This developer has completed two projects and third project is under construction process.
They are very good in terms of quality and timing. The location of the project is located in a
first-rate place
The above mentioned are the current market leader in Sylhet city and beside those there are so
many developer is developing their project in there.
Chapter 6: Current Sales Status
Currently the market is doing very good as the projects are getting good client like doctor and
salaried person. Both the banks and other NBFI’s are also doing good DBH and IDLC is the
market leader now and the default cases are very low in the market. Currently IDLC is
disbursing almost 20-30 million every month on an average basis.
Chapter 7: Potential Risk
The potential risk for the market is the customer segment. As the current political situation is
not good for business so we will find a bit risk on landing this finance to the businessman. Other
than the verification team is an important part of it because the amount of the finance is totally
depends on the report of CPV team.
Chapter 8: Potential Target Market
As per our concern we find comfort to finance the salaried person especially the payroll
customers. We have so many CEP customers in our Sylhet portfolio and so many CEP customer
are interested to purchase flat in Sylhet if the loan facility is available for flat. Another potential
segment is the doctor segment. As the doctors are very interested to purchase flats so we can
get a good response on that.
Chapter 9 Final Overview
Over all view for the mortgage financing in our city is very prospective and we can find almost
above 300 M portfolio in upcoming year if the product is open for our city. We have so many
corporate customers like CHEVRON, GP, BANGLALINK, AIRTEL, WARTSILA and so on is our city
and most of them are illegible for the Product. So we the Sylhet branch staff as well as our
customer are excitingly waiting for this product.