OUR REF.: LJ/PJ/01/2006
Dated: January 23, 2006
Consumer Credit Risk
Personal Financial Services
Dhaka Main office
RE: VETTING OF PROPERTY DOCUMENTS/PAPERS, A/C. MR. A & MRS. B.
We refer to your letter dated 19.01.2006 on the above subject.
We have perused the documents/papers (all photocopies) referred to us. Our opinion is as follows:
|Owner of the property
|:||1. Mr. P son of Mr. X2. Mrs. Q wife of Mr. Y
Both of Village Baiddergaon, P.O. Rasulpur, P.S. Gozaria, District Munshiganj present address at 31, Purana Paltan, P.S. Motijheel, District Dhaka
|`||Description of the property||:||All that piece and parcel of land measuring 19 (nineteen) kathas13 (thirteen) Chhattaks situated in the Gulshan Residential Model Town of the Dhaka Improvement Trust now Rajdhani Unnayan Katripakkha (RAJUK) in the District Dhaka, P. S. Gulshan, Sub-Registry Office Gulshan, Mouza Bhola Shamair being Plot No. 36, Road No. 5, Sector No. 3 of the lay out plan of Uttara Residential Model Town, Dhaka prepared by RAJUK.|
|3.||Area||:||402 (four hundred two) sq.yds. equivalent to 8.29 decimals|
|4.||Title Deed Referred||:||Begum Jotsna Islam, Syeda Nazneen Ferdousi, Syeda Nehreen Ferdousi, Syed Anwar Kemal, Syed Tanveer Kemal and Syeda Subrata Kemal have become owner of the land in question by way of inheritance from Mohammad Nurul Islam|
|5.||Bia Deed||:||Indenture of Lease No. illegible dated 28.12.1970 executed by the then Dhaka Improvement Trust now RAJUK in favour of Mohammad Nurul Islam.|
|6.||Mutation||:||It appears from the Memo No. Rajuk/Estate/1142 stha dated 25.03.1998 that the names of Begum Jotsna Islam, Syeda Nazneen Ferdousi, Syeda Nehreen Ferdousi, Syed Anwar Kemal, Syed Tanveer Kemal and Syeda Subrata Kemal have been recorded with RAJUK.Mutation record in the name of the present owners with the Revenue Authority is required.|
|8.||Chain of Ownership||:||Land measuring 402 (four hundred two) sq.yds. equivalent to 8.29 decimals was originally leased out to Mohammad Nurul Islam by the RAJUK vide Indenture of Lease No. illegible dated 28.12.1970.After death of Mohammad Nurul Islam his wife Begum Jotsna Islam, two daughters namely Syeda Nazneen Ferdousi, Syeda Nehreen Ferdousi and three sons namely Syed Anwar Kemal, Syed Tanveer Kemal and Syeda Subrata Kemal became owner of the land in question by way of inheritance.|
|9.||Ground Rent Payment Receipt||:||Submitted ground rent payments receipt No. 490959 from which it appears that ground rent has been paid up to 1407 BS for land measuring 0825 ajutangsha in the name of Mohammad Nurul Islam.|
|10.||Valuation Certificate||:||Not submitted.|
|11.||Non-Encumbrance Certificate||:||Not submittedUp to date Non-encumbrance Certificate is required.|
|12.||Municipal Holding Record||:||Not submitted.|
|13.||Wanting papers/Documents||Mandatorya) Up to date Non-encumbrance certificate.
b) Mutation record with Revenue Authority
c) Revised Deed of Agreement as mentioned in Clause 14 above.
d) Document/paper showing that the Power of Attorney executed by Mr. Syed Anwar Kemal in favour of the Developer, Means Builder represented by its Managing Partner, Rezaul Haque has been accepted by the Rajuk
e) Valuation Certificate
f) Municipal holding tax payment receipt, if applicable.
|14.||Opinion||:||Upon perusal of the documents/papers, we are of the opinion that Jotsna Islam, Syeda Nazneen Ferdousi, Syeda Nehreen Ferdousi, Syed Anwar Kemal, Syed Tanveer Kemal and Syeda Subrata Kemal (the ‘Landowners’) have acquired prima facie ownership over land in question. Physical possession of the present owners over the land should be ascertained and documents/papers referred in Clause 13 above should be obtained.Submitted Approval Letter No. Rajuk/NAA/R3C-849/98/1044 STHA dated 02.04.1998 issued by Authorised Officer, RAJUK from which it appears that the Landowners got approval to construct 6-storied Residential Building over the land in question.
Jotsna Islam, Syeda Nazneen Ferdousi, Syeda Nehreen Ferdousi, Syed Tanveer Kemal and Syeda Subrata Kemal have executed a registered Irrevocable General Power of Attorney No. 14334 dated 17.09.1997 followed by Deed of Declaration No. 14518 dated 13.11.2003 (the “IGPA”) appointing Means Builder represented by its Managing Partner, Rezaul Haque (the ‘Developer’) as their true and lawful attorney empowering the attorney inter alia to construct four additional floors on the top of the existing 2-storied building over the land measuring .0645 acres and sell the apartments alongwith undivided and undemarcated proportionate land. The said power of attorney was accepted by RAJUK vide Memo No. Rajuk/Estate/2224(1) STHA dated 03.10.2004.
We have also been provided with an Irrevocable General Power of Attorney dated 23.03.2003 executed in abroad attested by Ministry of Foreign Affairs of Bangladesh and revalidated by the Treasury have been submitted from which it appears that Mr. Syed Anwar Kemal appointed Means Builder represented by its Managing Partner, Rezaul Haque (the ‘Developer’) to his constituted Attorney inter alia to construct four additional floors on the top of the existing 2-storied building over his 21.87% share and sell the apartments alongwith undivided and undemarcated proportionate land. No document/paper has been referred to us showing that the said power of attorney was accepted by the Rajuk
Please note that we have not been provided with the Deed of Agreement between the Landowner and the Developer. The said Deed of Agreement is required to ascertain the respective apartments and car parks of the Landowner and the Developer.
We have been provided with an Agreement for Sale dated 10.03.1999 from which it appears that Mrs. Khodezatul Kubra entered into the Agreement for Sale with Developer to purchase an apartment being No. 4-B measuring 1100 on the 4th floor and car parking space of the building along with undivided and undemarcated proportionate land.
We have also been provide with an Agreement for Sale dated 28.05.2005 executed by and between Mr. Md. Nasim Ull-Mulk Khan and Mrs. Khodejatul Kubra from which it appears that Mr. Md. Nasim Ull-Mulk Khan will purchase an apartment being No. 4-B measuring 1100 on the 4th floor and car parking space from the potion of Mrs. Khodejatul Kubra. Please note that the said Agreement for Sale requires to be revised by making Developer a party thereto.
In view of the above Mr. Md. Nasim Ull-Mulk Khan may purchase the said apartment from the Developer subject to obtaining the (i)) document/paper showing that the Power of Attorney executed by Mr. Syed Anwar Kemal in favour of the Developer has been accepted by the Rajuk and (ii) permission of Rajuk to sell the apartment.
However, upon obtaining mandatory wanting documents/papers as mentioned clause 13, the Bank may finance partly to Mr. Nasim Ull Mulk Khan on the basis of the Fifth Party Agreement to be executed between the landowner through his constitute attorney, Developer, Allottee, Mrs. Khodejatul Kubra, Borrower Mr. Nasim Ull-Mulk Khan and the Bank stipulating inter alia that within a certain period after registration of the apartment in the name of to Mrs. Mahfuza Akhter, she will create mortgage over the same upon obtaining another approval from Rajuk.
Please note that we have provided this opinion on the basis of the documents/papers referred to us. We can not guarantee of the genuineness of the documents. You may verify the genuineness of submitted documents with the concern Sub-registry office or concerned authorities.
All papers/documents referred to us are returned herewith.
Kindly acknowledge receipt.