10,000 Families, Tk 1,600cr Trapped in 18-Year Purbachal Plot Ordeal

Nearly 10,000 families have been left in limbo after investing at least Tk 1,600 crore in the Purbachal Bestway City housing project, with most buyers still waiting for plots or refunds nearly two decades after payments began, according to their association.

At a press conference in Dhaka on Saturday, aggrieved buyers accused the project’s chairman, Mizanur Rahman, and his associates of failing to fulfil promises made through advertisements and plot-sale agreements. They urged the government to launch an urgent investigation, trace the money and ensure that those responsible are held accountable if wrongdoing is established.

The buyers said the company began collecting money in 2007, drawing investments from expatriates, farmers, teachers, doctors, retirees and serving and retired members of the police and armed forces. Many claim to have poured their life savings into the project, hoping to secure homes, retirement security or property for their children.

The Purbachal Bestway City Plot Owners Society organised the press conference at the Bangladesh Crime Reporters Association (CRAB) auditorium in Segunbagicha. Its general secretary, Mohammad Shahadat Hossain, read out a written statement detailing the buyers’ allegations.

According to the association, the company collected around Tk 1,500 crore through plot sales and another Tk 100 crore in development fees. Yet, after 18 years, most buyers have allegedly received neither the promised land nor refunds.

“Of around 10,000 plots sold, they alleged, only about 200 have reportedly been handed over”, said Manjur Alam, the society’s organising secretary. He also alleged that ownership documents for some of those plots were defective or incomplete.

Roads, electricity and security facilities remain inadequate in parts of the project, he claimed, raising questions about whether the development is fit for residential use. “ For thousands of families, the prolonged delay has turned a property investment into a financial crisis”, he said. 

Buyers said repeated attempts to obtain plots or recover their money had brought further uncertainty, with some allegedly facing lawsuits, physical attacks and threats to their lives.

The society’s statement also claimed that some buyers had died after suffering severe mental distress and failing to obtain adequate medical care. The allegations could not be independently verified.

Fazlul Karim, an adviser to the society, alleged that buyers, including himself, had been victims of questionable land deeds. He said many investors were now struggling financially in their later years after committing substantial sums to the project.

The association also called for an investigation into the use of the money collected from buyers. It alleged that funds intended for developing the housing project had been diverted to purchase hundreds of bighas of land in Kuakata, Cox’s Bazar, Rajshahi, Sirajganj and Bhaluka, allegedly in the names of project insiders or their relatives.

The buyers further alleged that assets had been acquired abroad and money laundered. These claims require independent verification, and no findings establishing the allegations were presented at the press conference.

The society placed five demands, calling for immediate action to protect buyers’ investments and establish accountability.

It demanded a high-level investigation by the Anti-Corruption Commission (ACC), Criminal Investigation Department (CID) and Rajdhani Unnayan Kartripakkha (RAJUK), alongside the freezing of relevant bank accounts and seizure of assets in accordance with the law.

It also called for travel restrictions on Mizanur Rahman and others allegedly involved, followed by their arrest and punishment if the allegations are proved through due process.

The buyers demanded completion of the project and handover of the promised plots. If delivery is impossible, they want full refunds with interest and adequate compensation.

The association also sought the withdrawal of what it described as harassment cases against buyers and protection for those pursuing legal remedies. Finally, it urged RAJUK to introduce stronger monitoring of private housing projects to prevent similar disputes.

Nearly two decades after the money began changing hands, the buyers say they remain without a clear resolution. They want authorities to establish where the Tk 1,600 crore went, why most plots remain undelivered and who should be held accountable.

For the affected families, the dispute is no longer simply about delayed land transfers. It is about life savings tied up for years, financial security put at risk and a promise of homeownership that, they allege, remains unfulfilled.