Green Valley Housing Project-2
A second housing project intended for administration cadre members who did not receive plots or shares in the first Green Valley project and who do not own plots or flats within Dhaka City Corporation.
Overview
Green Valley Housing Project-2 was initially planned on approximately 600 bighas near Khilkhet and Uttarkhan, and 2.714201 acres (8.224852 bighas) of land were purchased within the proposed layout. The project has been canceled because a 33 thousand KV electric line crosses the site, restricting residential construction within at least 100 gaz/yards on both sides, and because other housing projects are active in the same area. The purchased land should be exchanged or sold, and the proceeds should be returned to the Green Valley-1 fund because the purchase was made using borrowed Green Valley-1 funds.
Key Facts
Milestones
- •Agreement executed with Messrs ABN Enterprise on 08.12.2024.
- •Initial acquisition of 2.714201 acres (8.224852 bighas) completed within the project layout.
- •Land purchase and registration were completed with a total cost of BDT 10,01,44,717.
- •Site constraints were identified, including the electric line passing over the project area.
- •Nearby active housing projects, including NBR and Judicial Service Association projects, were identified.
- •The project was canceled due to the identified constraints and surrounding project conditions.
Open Items
- •Take a final decision on member enrollment in the project.
- •Resolve the handling of the pay orders already deposited.
- •Collect site visuals before using the project on image-heavy pages.
- •Since the land was purchased using borrowed Green Valley-1 funds, financial adjustment is required.
- •The land should be exchanged with Bashundhara Group, if feasible. Alternatively, the land should be sold fully or partially.
- •Proceeds from exchange or sale should be returned to the Green Valley-1 fund.
- •Final decision is needed on whether to exchange the land or sell it fully/partially.
- •Legal, financial, and management approval processes need to be completed for exchange or sale.
Status Note
The housing project has been canceled because of the high-voltage electric line crossing the site and other housing projects operating in the same area. The acquired land should be exchanged or sold, and the proceeds returned to the Green Valley-1 fund.