THE "TO LET" MARKET IN RANGPUR: A REGIONAL HUB WITH GROWING OPPORTUNITIES

The "To Let" Market in Rangpur: A Regional Hub with Growing Opportunities

The "To Let" Market in Rangpur: A Regional Hub with Growing Opportunities

Blog Article


Rangpur, as the divisional headquarters in northern Bangladesh, is a city undergoing significant development. Its "To Let" (rental) market reflects this growth, driven by its role as an administrative, educational, and agricultural center. While perhaps not as fast-paced as Dhaka or Chittagong, Rangpur offers a more affordable and increasingly attractive option for residents and businesses seeking a base in the northern region.



Key Drivers of Rangpur's Rental Market:



  1. Divisional Headquarters Status: Being a divisional headquarters (established in 2010) has led to increased government and private sector activities, drawing in professionals, civil servants, and businesses. This consistently generates demand for both residential and commercial rental spaces.

  2. Educational Institutions: Rangpur is home to several prominent educational institutions, including Carmichael College, Begum Rokeya University, and various medical colleges. This creates a steady need for student accommodation (bachelor rooms, messes) and housing for faculty and staff.

  3. Agricultural and Trade Center: The fertile land surrounding Rangpur makes it a vital hub for agriculture and agro-processing industries. This economic activity drives demand for commercial properties like warehouses, shops, and offices for businesses engaged in trade and distribution.

  4. Improving Connectivity: The Dhaka-Rangpur Highway is a major route facilitating trade and movement, and ongoing infrastructure projects (like the Tangail-Rangpur Highway) are further enhancing connectivity. This improved accessibility makes Rangpur a more desirable location for establishing businesses and residences.

  5. Lower Cost of Living (Relative to Major Cities): Compared to Dhaka or Chittagong, the cost of living in Rangpur is considerably lower, especially for rent. This makes it an attractive option for individuals and families looking for a more affordable urban lifestyle without sacrificing essential amenities.


Popular "To Let" Areas in Rangpur:


Rental demand in Rangpur is concentrated in areas that offer good access to administrative offices, educational institutions, and commercial centers:


For Residential Rentals:




  • Jahaj Company More: Often considered a central and well-developed area, likely with a mix of residential apartments and commercial establishments.

  • Shapla Chottor, Shatmatha Chottor, Dhap, Modern More: These areas are generally well-known and central, offering various residential options.

  • College Para: Due to its proximity to educational institutions, this area would be popular for student housing and small family units.

  • Tajhat: Known for the historical Tajhat Palace, this area might offer a mix of older and newer residential properties.

  • Areas near Carmichael College and Begum Rokeya University: Localities around these institutions will have a consistent demand for student and faculty housing.

  • Rangpur Sadar: As the main upazila, it encompasses many of these key areas and offers a broad range of residential rentals.


For Commercial Rentals:




  • Jahaj Company More, Shapla Chottor, Terminal Road: These are likely prime locations for shops, showrooms, and office spaces due to high foot traffic and central positioning.

  • Kachari Bazaar: As a traditional market area, it would be a hub for shops and small commercial setups.

  • Main roads and highways: Properties along major thoroughfares are sought after for commercial visibility.

  • Industrial zones: Areas on the outskirts or designated industrial zones will have demand for warehouses, factories, and larger commercial properties.


Rental Trends and Pricing:


The "To Let" market in Rangpur offers diverse property types and price points, reflecting its status as a growing regional city.




  • Residential: You'll find a range from individual bachelor rooms and seats to small and medium-sized family apartments. Houses for rent are also available, particularly in less densely populated residential areas.

  • Commercial: This includes small shops, showrooms, office spaces (both in dedicated commercial buildings and converted residential units), and larger warehouses/godowns.


General Price Ranges (based on available data, subject to location, size, and amenities):




  • Bachelor Rooms/Seats: Can range from BDT 1,400 - 5,000+ per month, depending on facilities and sharing arrangements.

  • Family Apartments (1-3 bedrooms): Rents typically range from BDT 5,000 - 25,000+ per month. For example, a 3-bedroom house in Rangpur Sadar might be available for BDT 13,000/month. A 1-bedroom apartment in the city center is estimated to be around BDT 6,666/month, while a 3-bedroom apartment could be around BDT 14,666/month. Properties outside the city center would be more affordable.

  • Commercial Properties: Highly variable.

    • Small shops could start from BDT 8,000 - 15,000+ per month.

    • Larger shop/showrooms or office spaces can range from BDT 15,000 to BDT 50,000+ per month for significant spaces (e.g., a 1,800 sq ft shop at BDT 30,000/month, or a 3,500 sq ft commercial property at BDT 50,000/month).

    • Warehouses/Godauns might also be available in similar ranges based on size.




Typical rental agreements involve an advance payment (security deposit), often equivalent to 1-3 months' rent, in addition to monthly utility and service charges.



How to Find "To Let" Properties in Rangpur:


Finding a suitable rental in Rangpur increasingly involves a combination of traditional and modern methods:




  1. Online Property Portals: These are highly effective for searching properties in Rangpur.

    • Bikroy.com: A very popular platform with a large number of "To Let" listings for all types of residential and commercial properties in Rangpur. It allows for detailed filtering.

    • TheTolet.com / https://www.google.com/search?q=ToletBD.com: Specialized rental platforms that offer specific sections for Rangpur, including family houses, bachelor rooms, sublets, and commercial spaces.

    • PBazaar.com / Varabazar.com: Other online portals that list rental properties in Rangpur, providing details and contact information.



  2. Social Media Groups: Active Facebook groups dedicated to "Rangpur To Let," "Rangpur Rental Properties," or specific accommodation types (e.g., "Bachelor Mess Rangpur") are good resources for direct owner listings and inquiries.

  3. Local Brokers/Agents: Many local real estate brokers operate in Rangpur and have extensive knowledge of available properties. They can streamline the search process, though a commission (usually a percentage of one month's rent) is typically charged.

  4. Traditional "To Let" Boards: Physically exploring neighborhoods of interest can still yield results, as many individual property owners use traditional "To Let" signs, especially for houses and smaller units.


Rangpur's "To Let" market offers a balanced proposition: a growing urban environment with essential amenities, better affordability than major metropolises, and increasingly convenient ways to find your next home or business space.

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