FAQ

1. Who will bear the documentation fees?

RAKEEN will bear all sale documentation fees.

2. Is offered price including all taxes?

No, the purchase price excludes all taxes. Such expenses will be borne by the buyer.

3. What will be the mode of payment?

Mode of Payment:

• Booking Money – 20%.
• Equal installment up to a period before handover – 70%
• At the time of Possession Handover – 10%

4. Can I cancel my purchase? If yes what will be the penalty?

Yes, you can cancel your purchase. For Purchase cancellation 10% of the total amount or 30% of the paid amount whichever is greater, will be forfeited.

5. What is the procedure for Home Financing?

The home financing procedure will depend upon the rules and regulation of the designated financial bank and organization.

6. Is there any financial organization for financing to purchase the flats?

Yes, RAKEEN ties up with 5 different banks and financial institutions, providing individual loans for our local and Non-Resident Bangladeshi property buyers, subject to bank approval (depending on buyer’s income, status and bank regulations).

For Local residents:

• Up to 70% of the total amount –
• Up to 25 years Installment (depending on age).
• Interest rate is minimum 1% below the current market rates

For NRBs:

• Up to 50% of the total amount
• Up to 7 years installments period

7. How will Utility consumption cost be charged?

 Utility consumption cost:

• Electricity: As per DESCO’s price of kilowatt
• Gas: As per official Authority fix monthly rate/Cylinder cost.
• Water: As per official authority unit price. Monthly bill to be equally distributed to all flats located in a single block.

8.  What will be the utilities connection cost?

Utilities connection cost will be charged separately to the buyer as per official authorities up-to-date charges on the time of handover.

What are the safety and protective measures for fire emergency?

 Safety and protective measures for fire emergency

1. Emergency staircase
2. Fire extinguisher for every floor
3. Central water firefighting hydrant system for the buildings with hose reel in every floor and sprinkler system for the basement.

 

Is there any backup power supply for emergency?

Yes, in case of Power Failure, one stand by emergency Generator for operating each block of Buildings. International standard generator brand will be installed. Capacity to cover lift, water pumps, staircase, lobby, intercom service, common space like car parking, reception area, security room, main gate etc. It will cover THREE lights point and TWO fan points in each apartment.

 

Who will take charge of maintenance of the building after the completion of construction?

RAKEEN will take charge of maintenance and property management for the 1st year after full project handover. Yearly service charges to be paid monthly in advance by the owners and to be clearly described, defined and justified by RAKEEN at the time of handover, according to market’s rates and conditions by then.

 

What is the handover date of the project?

Are all required legal approval and documentation of the project done?

Yes. RAKEEN will show at any time and upon any request all necessary legal documents, permits and authority approvals securing the buyer’s investment and assuring its legitimacy to develop the land and to sell the properties developed on such land (RAJUK permit, POA, REHAB Membership etc.)

 

What will be dispute handle procedure?

Any unresolved disputes will be arbitrated and handled by Bangladesh courts of law.

 

What are the community facilities around the project area?

The community facilities:

» Commercial building block comprising supermarket, shops, cafes.

» Mosque

» Multi-purpose Community building including provision for:

1. Ladies corner
2. Space for community library
3. Space for Club
4. Space for Gymnasium
5. Emergency Medical Service

Garbage disposal system within the project area.

Children playgrounds in front of blocks with green areas

Tennis/Basketball court.

What will be the warranty period of the apartment?

All defections in the apartments finishing and fittings will be warranted for 1 year from handing over date.

 

What are the construction materials brand that used in the project?

Construction Material brands and specifications:

CEMENT: – Standard quality cement – Scan/Holcim/Equivalent.

STEEL: – Standard quality deformed Bar (FY 60,000 & 40,000 psi) – BSRM/RSRM/Equivalent.

BRICKS: – First class bricks (Gas burn). External Wall Thickness 8” Partition walls thickness 5”.

FINE AGGREGATE: – Sylhet coarse sand and medium sand.

STONE CHIPS: – Bholagonj standard crushed stone chips, Concrete strength: 3000 & 4000 psi.

 

What will be the penalty if developer failed to handover the flat on promised period?

If developer is in default and fails to deliver the property on time as per completion date clearly defined in sale agreement, and if buyer has not at all defaulted in his installments agreed, the penalty to be paid by developer will be equal to current rental market rate and according to the number of the months of such delay.

 

Is there any accommodation for caretaker, guards and drivers?

Yes. Each block is facilitated with Caretakers room, guardroom, drivers’ sitting space and common toilet.

 

What are the utilities sources?

Utilities supply:

1. Main substation (appx. capacity of 20mkw) from DESCO connecting to individual transformer of each blocks.
2. Gas pipeline connection (government connection/cylinder) for distribution system as per requirement of each apartment. All apartments will have independent gas connection for two burners.
3. Own source of water supply.

 

Is there any option to change the room size/design according to demand?

Internal Divisions, sizes of rooms and design concept of the apartment remain unchanged

 

What are the kitchen features?

Kitchen Features:

1. Kitchen cabinets installation is optional. Selection range and brands to be agreed and determined and additional cost to be provided accordingly.
2. Kitchen worktops will be Star/Equivalent tiles by default. For any upgrade to Star/Equivalent marble/granite slab tops, a separate cost will incur as per the new selection from Star/Equivalent available products range.

 

What will be the bathroom fittings brand?

Bathroom fittings:

1. All bathrooms with inner side waterproof laminated Doors / Plastic Doors.
2. Star/Equivalent good quality sanitary wares.
3. Star homogenous non-slip 12” x 12” Ceramic Tiles in all bathroom floors. Matching Star 13” x 20” Tiles in all bathroom walls up to false ceiling.
4. Provision for Mirror in Bathroom with overhead lamps. Local chrome plated high standard fittings in master and for other bathrooms (Nazma).
5. One Bath Tub for Master Bathroom.
6. Concealed hot and cold water PPR-PEX lines provisions in all bathrooms.

Can I transfer or sell my property to other person before completion of the project/registration?

 Transfer or resale activities to other parties are possible even before handing over and deed registration. Such activities will take place at RAKEEN offices and will happen through RAKEEN under 3 conditions:

1. 2% transfer fees + 1% admin fees for new documents issuance to be paid to developer.
2. A transfer letter/agreement must be signed between Seller and new buyer whereas Seller acknowledges that he has received all his paid amount and his premium and that he is transferring all his obligations and dropping all is rights in the new buyer’s favor, and buyer undertakes that he has seen and fully understood all terms and conditions agreed initially between 1st buyer and developer and that he’s willing to continue and to respect those obligations and conditions.
3. Original Sale agreement in 1st buyer’s possession must be returned to developer in order to issue new one.

 

Who will handle the registration process?

Ownership Deed Registrations at land department will be documented and processed by RAKEEN and relevant fees will be borne by the buyer as per official registration office up-to-date charges at the time of handover.

What are the safety and protective measures for fire emergency?

 Safety and protective measures for fire emergency

1. Emergency staircase
2. Fire extinguisher for every floor
3. Central water firefighting hydrant system for the buildings with hose reel in every floor and sprinkler system for the basement.

Is there any backup power supply for emergency?

Yes, in case of Power Failure, one stand by emergency Generator for operating each block of Buildings. International standard generator brand will be installed. Capacity to cover lift, water pumps, staircase, lobby, intercom service, common space like car parking, reception area, security room, main gate etc. It will cover THREE lights point and TWO fan points in each apartment.

 

Who will form society for the apartments?

RAKEEN will further help in forming owner’s association/society to take care of the project’s green areas, garbage collection, cleaning, security and general maintenance.

 

Is there any accommodation for caretaker, guards and drivers?

Yes. Each block is facilitated with Caretakers room, guardroom, drivers’ sitting space and common toilet.

What are the security features of the project?

Security features:

1. Heavy secured gateway with spacious entrance and driveway including security provision for control of Incoming and outgoing persons, vehicles Goods etc.
2. Provision for 24-hour CCTV cameras for Security System.