Abstract

Bangladesh is a village-based country in South Asia. There are eighty six thousand villages in Bangladesh. Eighty five percent of the people live in the rural area. The economy of Bangladesh is based on agriculture. But recently the scenario is changing and people are moving from village to town. At present, with the expansion of economy and mounting movement of people from rural and mofussil areas to the sprawling metropolis of Bangladesh, housing and residential accommodation pose a really challenging sector. Almost two decades have passed the real estate business is running here. But the sustainable system and sufficient legal footing have not yet been formed for the real estate business and practice in Bangladesh. There is also resulting imphasis on the professionalism and ethics of these new real estate professional. Technological advancement in all phases of the real estate industry have placed both real estate education and real estate practice on a new level of competition and efficiency. This article has been written to provide with an understanding of the basic principles and business fundamentals of real estate. A suggestion of legal framework with a authority to carry out the legal requirements have been upheld keeping two things in mind i.e. “Why” things are done and “how” these can be applied to every day activities.