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1. Is offered area of the apartment included the common space and garage space or carpet area of
apartment? What is the price of the car parking?
2. What is the size of floor tiles and what is the brand? Is there any option to have tile and sanitary
ware at own choice?
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5. Is there any option to change the room size/design according to demand?
Ans. Internal Divisions, sizes of rooms and design concept of the apartment remain unchanged
6. Is there proper ventilation and day light option for the apartments?
Ans. Yes, proper ventilation, air circulation and daylight option as per architectural design.
Ans. Utilities connection cost will be charged separately to the buyer as per official authorities up-to-date
charges on the time of handover
Ans. 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.
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12. Is there any accommodation for caretaker, guards and drivers?
Ans. Yes. Each block is facilitated with Caretakers room, guardroom, drivers’ sitting space and common
toilet.
13. Is there any financial organization for financing to purchase the flats?
Ans. 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
Ans. The home financing procedure will depend upon the rules and regulation of the designated financial
bank and organization.
Ans. 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.
Ans. No, the purchase price excludes all taxes. Such expenses will be borne by the buyer.
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18. Can I transfer or sell my property to other person before completion of the project/registration?
Ans. 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:
a. 2% transfer fees + 1% admin fees for new documents issuance to be paid to developer.
b. A transfer letter/agreement must be signed between Seller and new buyer where as 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.
c. Original Sale agreement in 1st buyer’s possession must be returned to developer in order to issue new
one.
19. What will be the penalty if developer failed to handover the flat on promised period?
Ans. 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.
20. What are the documents I need to submit with application for purchase?
Ans. Documents to be provided at the time of purchase will be: – valid ID/passport copy of the buyer/s
himself and valid ID/passport copy of the buyer’s nominee/s.
21. What is the construction materials brand that used in the project?
Ans. 3rd renowned party’s results copies of building materials tests can be provided separately (soil,
piling, steel, concrete). Structure designed to withstand earthquakes or prevalent intensity.
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23. What will be the warranty period of the apartment?
Ans. All defections in the apartments finishing and fittings will be warranted for 1 year from handing
over date.
24. What are the community facilities around the project area?
Ans. Any unresolved disputes will be arbitrated and handled by Bangladesh courts of law.
26. Are all required legal approval and documentation of the project done?
Ans. 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.)
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29. Who will take charge of maintenance of the building after the completion of construction?
Ans. 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.
Ans. 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.
Ans. 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.
32. What are the safety and protective measures for fire emergency?
Disclaimer:
1. In case of any confusion or contradiction of the above points with the sale agreement clauses, sale
agreement clauses shall prevail.
2. Rakeen reserves the full right to change above FAQs from time to time without prior notice.
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