CHAPTER-1

1.1 INTRODUCTION
Since the ancient time, the people used to dream for a beautiful home that makes their life comfortable
and enjoyable. Even the birds look for a beautiful nest their comfortable home. With the passage of time,
a remarkable change has come up to build more and more nice home. It is the modern architect that has
brought a real comfort for the human being to make various designable and fashionable homes. More it
gives immense pleasure with all sort of modern comfort within homes.

Being one of the most densely populated countries of the world with a huge population, Bangladesh has
already surrendered nearly 25% of its land to human settlements and related uses. With the current 30
million urban populations, the share of urban land is about 2 percent of all lands and nearly 10 percent of
land under settlements. Urbanization helps saving land for settlements. This is because of the possibility
of higher density. As of today 30 million urban population are squeezed on about 3370 square kilometers
(1300 square miles) of land in the country giving a gross density of 8870 persons per square kilometer
(23000 persons per square mile) as opposed to about 700 persons per square kilometer (1800 persons per
square mile) in rural areas. Thus the urban density is more than 12 times that of the rural density. But
urban population will be more than double in the next 20 years and the trend would continue. By the year
2040 Bangladesh would possibly have half of its population (of 200 million or so) in urban areas that
would amount to 100 million people in urban areas.

Dhaka is the most important city of Bangladesh where every year people are increasing. People are
coming to Dhaka for various reasons. The population of Dhaka city is increasing terrifyingly. The current
population growth of Bangladesh is 2.06% (2009 CIA EST.) and the population growth of Dhaka city is
4.2%. How fast the city is growing? In reality, Shelter problems are extremely familiar problems in
Dhaka city. It was seen that in the middle of the 1970 and by 1985, apartment buildings were so popular
that there was an acceptability of concept of living in a flat. At that time, there was an acute shortage of
land and in a situation of rapid increase of land prices and the cost of constriction. However, Urbanization
sense actually stared in the British period when they had a tendency to build their administrative centers
on the banks of large rivers. A recent study of World Bank has estimated that about 40% of people of
Bangladesh will be living in urban areas within 2025. Dhaka, the prime city of Bangladesh, its share of
national urban population was 25% in 1981, 31% in 1991 and 34% in 2001 respectively. So, it is very
clear if we want to solve housing problems beside the increasing population, we should have a proper
plan of doing it. Real estate is playing an important role in the economy which is certainly important for a
county like Bangladesh. As urbanization is taking place very fast, real estate business is also becoming
more significant business in the last couple of years.

Glorious Properties LTD. is one of the leading Real Estate Company in Bangladesh. Undoubtedly
GLORIOUS PROPERTIES LTD. has emerged with leaping to prominence as one of the prestigious Real
Estate Developer and fast growing construction company. GLORIOUS PROPERTIES LTD. becomes
specialized in housing areas, developing luxurious apartment complexes with the facilities of all sorts of
modern amenities particularly in the desired location. It is recognized as unique construction materials in
21st century. Attune for a beautiful tomorrow, GLORIOUS PROPERTIES LTD. had humble launched its
journey to reach its noble vision to ensure a new standard for living for the people of Bangladesh by
introducing Agro-Housing Project. GLORIOUS PROPERTIES LTD. has ensured The luxurious
apartment for the elite and middle class people of Bangladesh which is commonly known as dream
home.

In future there would obviously be a need for higher density of population in both rural and urban areas,
more so in urban areas. Density can be increased both horizontally (by more compact arrangement) or
vertically through multi-storied development. There is no magical solution to the present or future
housing problem of Dhaka City. Different sets of policies need to be implemented both at the national as
well as the local levels. Nevertheless in the light of the prevailing high growth rate in population as well
as increasing value of land in Dhaka city, it can be easily argued that apartment development around
Dhaka should be encouraged in the coming years. Both walk-up as well as high rise developments should
be encouraged. Hence the future residents of Dhaka should adapt themselves to apartment living by being
more accommodative and tolerant. All of us would prefer to live in a private home with a front lawn and
/or a back garden, but since urban land is scarce and expensive, solutions with high rise development need
to be considered in a rapid developing city like Dhaka. Due to various factors, including absence of an
urbanization policy or a human settlement policy, urban growth and urban development in Bangladesh is
basically Dhaka oriented. Already 30% of the urban population of the country is concentrated in Dhaka
Mega city region. The trend is continuing or becoming more entrenched.

1.2 OBJECTIVES OF THE STUDY

In Dhaka city, where population has been increasing without any potential stop sign, need for housing
development has got more importance in recent past. The specific objectives of the study are:

To assess the role and contribution of real estate business to meet the housing needs in the Dhaka city.
To get an explicable thought regarding the real estate industry in Dhaka city;
To identity the problems that hampers the growth of the industry;
To characterize the opportunities that expedites the augmentation of the industry


1.3 LIMITATION OF THE STUDY

Before discussing about the constraints of our study, I would like to know the meaning of
Research. The Oxford Dictionary meaning of Research is the systematic investigation into and
study of materials and in order to establish facts and reach to a new conclusion. Actually
Research is an endeavor to discover new facts and figures and collate with the old facts by
adopting the scientific method to establish the e real facts. In my investigation methodology, I
have faced the following constraints:

Fewer number of sampling: This paper was prepared by the focus group discussions of ten
members from GLORIOUS PROPERTIES LTD. It is obvious that if the sample size were more
than twenty, the paper would have been more accurate and fruitful.

Data constraint: Due to scattered nature of business and unwillingness of disclosing
information as well as unavailability of secondary data, this paper was done on the basis of
primary data. So there is a probability of getting opinions which are not real in true sense.

Literature constraint: No major work has so far been done in Bangladesh in this sector
1.4 METHODOLOGY

1.4.1 Data Collection
Sources of Data: The followings are the sources and methods of data collection for the purpose
to prepare the Project:
Primary sources: The primary data have been collected mainly though working experience gathered by
working through internship period and survey. The survey includes the following:
a) Observation
b) Interview
i) Personal Interview
ii) Telephone Interview
iii) Focus Group Discussions.
Observation Method applied to some specific area of interest of GLORIOUS PROPERTIES LTD.
companies during works. To observe the areas I have visited various projects physically. It was very
useful to collect the primary data. After making the observation it was needed to talk with the companies
to know their price, features, amenities etc. about their projects in that specific area. In that case the Focus
Group Discussion Method was applied.
Secondary sources: The secondary data have been collected from different publications of different Real
Estate companies in Bangladesh, publications of Real Estate Housing Association of Bangladesh
(REHAB), publications of Urban Group and related Magazines and. Websites.