Rajuk seeks 22pc higher funds for Uttara apartment project

The apartments at Uttara project are likely to be costlier as Rajuk has sought 22 per cent higher funds and two more years to complete its construction work, officials said Friday.

Insiders said although the volume and the scope of work at the project are likely to decrease due to the revision of the design of some components, Rajdhani Unnayan Kartripakkha (Rajuk) has escalated the cost further.  

The Rajuk has recently sought revision of its flat project at Sector-18 at Uttara, increasing the cost from current Tk 90.30 billion to Tk 109.96 billion, 22 per cent up from the existing cost.  

Rajuk seeks 22pc higher funds for Uttara apartment project

Besides, Rajuk has sought two more years up to June 2020 to complete the construction work of the flats at Uttara.

Project Director of Rajuk ASM Raihanul Ferdous said: "The number of flats will be reduced to 15,000 and the buildings will be cut to 179 from 240 in numbers."

As per the original development project proposal (DPP), Rajuk was supposed to construct 240 16-storey buildings having a total of 20,160 flats.

When asked about the possibility for further cost escalation of the apartments, the project director told the FE that they had already increased the unit cost to Tk 4,800 (per square feet) from the initial cost of Tk 3,500. The clients are paying higher unit cost for purchasing the apartments.