|This article needs additional citations for verification. (February 2012)|
||This article contains content that is written like an advertisement. (March 2014)|
Banasree is a large affluent and upscale residential area of Dhaka in Bangladesh which has been developed by Eastern Housing Limited. The name "Banasree" means "The beauty of forest". It is one of the most desired places to live inside Dhaka as it is built with proper planning, adequate and sufficient housing, civil works, public facilities and infrastructure.
The area is originally built with the purpose of being solely residential in the eastern part of the capital of Bangladesh, Dhaka and is divided into fourteen blocks (Blocks A-N). It is situated behind the Bangladesh Television Center in Rampura. A 170 feet wide pristine lake runs through the area which adds appeal, serenity and tranquility to the area. Banasree is overall very clean, green, peaceful and safe compared to its neighboring suburbs.
Banasree is a very convenient location to live in since it is accessible to major amenities such as numerous departmental stores, police stations, hospitals, clinics, diagnostic centers, pharmacies, stationery shops, cyber cafes, mosques, churches, temples, graveyards, shopping malls, telecommunication office, power sub-station, billing office, banks, boutiques, restaurants, bakeries, confectioneries, grocery stores, fast food outlets, fashion and design houses. Besides there are reputed eduacational institutions such as Banasree Ideal school, Banasree High school, Faizur Rahman Ideal High School, Imperial College, Viqarunnessa Girls school and East West University.
The newly developed Hatirjheel Lake Road Project connects the area with Gulshan and Dhanmondi making it one of the most expensive suburbs in Dhaka city to live in. The majority of the people who lives in Banasree are from the upper-middle-class background.
Banasree is effectively and efficiently run by a governing body named by "Banasree Kolyan Shomiti" which is elected by vote of the local resident owners. They provide services by being actively involved in development and maintenance work of the entire area by collecting funds annually from both landowners and apartment owners of Banasree. They also provide 24 hours security to the area by posting privately hired security guards throughout the area. Recently they have repaired most of the roads and drainage system in Banasree.
Real Estate and Housing
The regular plot sizes in Banasree are 2, 2.5, 3, 3.5, 4, 4.5 and 5 kathas. While the corner plots are measured at 1.75, 2.25, 2.75, 3.25, 3.75, 4.25 and 4.75 kathas. The internal sub road of the area is 25 and 30 feet wide while the larger roads or avenues are 40, 50 and 60, 80 & 100 feet wide. Most of the buildings in Banasree are residential apartments where the height of these buildings range between 7 to 14 stories high.
In May 2008, the government amended the "Dhaka City Building Construction Rules" which was passed in parliament after consulting with the Dhaka City Development Authority RAJUK alongside with urban planners, architects, engineers, developers and landowners by fixing the Floor area ratio or FAR in all areas in Dhaka City including Banasree between 1:3.5 and 1:6.5 which is applicable for both new construction of residential and commercial buildings depending on the plot size and the adjacent road width of the plot. Also landowners and real estate developers must keep a minimum of 50% open space of the total land area (for over 3 kathas of land) of which 25% shall be paved and the rest 25% area must be green or landscaped with gardens when constructing a high rise building in accordance with FAR. Whereas, for small plots a minimum of 30% (for under 2 kathas) & 40% (for under 3 kathas) of the total land area must be kept open. Also in the new buliding construction rules, the civil aviation authority has imposed a height restriction in all residential areas in Dhaka city to 22 stories and 28 stories for all commercial areas except Motijheel. In Motijheel, a building can be raised up to a maximum of 38 stories. However, all buildings within a 3.5 km radius of both Shahjalal International Airport and Tejgaon Airport cannot exceed the 14 stories height limit.
Banasree is currently experiencing a real estate boom where demand for apartments is very high due to its centralized location in Dhaka city. Furthermore, developers are seizing the opportunity by meeting the huge wave of demand by constructing new apartments and commercial buildings by going into a 50:50 ratio joint-venture land development with landowners of vacant plots. This has led to a skyrocketing of real estate prices in the area.
The average apartment prices per square feet in Banasree is about $70- $100 (USD) and land price is around $100,000 (USD) per katha (1 katha = 720 square feet). Meanwhile, monthly apartment rents ranges between $200-$500 (USD). Most of the apartment in Banasree are sized in between 750 square feet (70 square meters) to 1850 square feet (170 square meters). Larger apartments sized more than 1850 square feet are found on the wider roads.
Four buses connects Banasree with major areas of Dhaka city.
Torongo Plus starts at K block of Banasree and ends at Mohammadpur with having stoppages at Khilgaon, Malibagh, Moghbazar, Shantinagar, Ramna Park, Shahbagh, Elephant Road, Dhanmondi and Lalmatia. Another bus service company Alif Enterprise, which is also known as Bengal, starts from Block J and stops at Rampura, Badda, Gulshan-1, Mohakhali and Mirpur. Dibanishi offers a limited daily Banasree-Banani route via Badda, Baridhara Diplomatic Zone and Gulshan-2. Falguni also offers a daily Banasree-Uttara route via Bashundhara and Shahjalal International Airport.
A flyover or U-Loop is nearing completion which is being built at the entrance of Banasree so that the area will be directly linked with Hatirjheel Lake Road. This U-Loop will ease traffic congestion during peak hours at DIT road and Progoti Sarani.
The government has plans to build a metro rail (a long term project initiated by the government and funded by Japan) through this area in the near future with Banasree having a station under MRT Line 5.