33 billion revenue was raised from real estate transactions in 9 months, the highest transaction and revenue collection in March
In Chait alone, a revenue of 4 billion 39 crore 46 lakh 86 thousand rupees has been raised from real estate transactions. According to the Department of Land, Management and Records, this is more than all the remaining months of the current financial year. The department said that along with the revenue in March, there was also a lot of real estate transactions and sales.
The lowest revenue from real estate business in this financial year was Rs 2,704,46,000 last October.
In March alone, 49 thousand 832 new houses were bought and sold. According to the statistics of the department, there were 147 thousand 416 transactions in Chait alone. Earlier, 140,621 real estate transactions were done last December. Last October, the lowest number of transactions was 97 thousand 196, according to the department. A total of 11 lakh 25 thousand 388 transactions were done from July to March of the current financial year.
According to the data of the department, in the current financial year, the highest 54 thousand 279 letters were passed last March. Passing of the document means that the transaction or quota is new only in the same month. In the overall transaction and stock exchange, there are name changes, revisions, past dues, land distribution etc. In Chait, a total of 122,658 draws were made. Earlier, the lowest number of tickets was 61 thousand 332 times in August. From July to March of the current financial year, a total of 8,69,440 cases were reported.
Since last August, due to non-classification of land, land distribution was at a standstill in 620 municipalities across the country. On August 24, 2018, after Kittakat was stopped, the Council of Ministers meeting amended the Land Use (Second Amendment) Regulation, 081, and stipulated that four forts should be designated as open agricultural areas at the local level until mid-June 2018.
In August, after Kittakat was stopped, Kittakat and the passage of business documents decreased. Revenue was also down compared to July. Allegedly, the business was continuously increasing and the volume was decreasing again. The data of the department has the highest number of transactions and sales this year in March. In October, 72 thousand 958 cases were reported, compared to 115 thousand 134 times in January. But there were 114 thousand 206 transactions in January and 112 thousand 362 transactions in February. According to the
department, transactions were 1848 in October and 97 thousand 196 in October. There were 140 thousand 621 transactions in January, but only 132 thousand 31 transactions in January.
The government issued a land use regulation on 079 June 23, according to which the municipality could do land use only after separating agriculture and non-agriculture. Due to this policy, from July of the same year, the overall real estate business started to decrease. The businessmen were saying that the real estate business could not increase due to lack of distribution.
After the municipality delayed the separation of agriculture and non-agriculture, Kittakat was halted since November 079. The government has amended the regulations and provided that residential and commercial land can be allotted up to 80 square meters area. Earlier, residential plots less than 130 square meters could be allotted. It has been arranged that 80 square meters of land can be allotted to those who have received planning approval and 130 square meters to those who have not. Previously, there was a provision that both those who took the planning permission and those who did not were allowed to plot in an area of less than 130 square meters.
In nine months of the current financial year, the revenue of 33 billion 22 crore 48 lakh 78 thousand rupees has been raised from real estate business. According to the Department of Land Management, the highest revenue has been raised in Chait during the current financial year. According to the department, the revenue of Rs. Bishnu Ghimire, President of Nepal Land and Housing Development Federation, said that there is new hope as the real estate business, which has been continuously decreasing, increased in March. "The loan installments and interest have to be paid in the middle of April, the effect of which has also affected the real estate business," he said.
department has been collecting revenue under the headings of service tax, registration fee, additional fee, door facility, capital gains tax, delay fee, city infrastructure development fee, chief minister cleanliness campaign fund fee, Narayani and Rapti civilization. According to the department, only the revenue raised from the capital gains tax will go to the account of the union government. 3 billion 835 million in August, 3 billion 92 million in August, 3 billion 812 million in October, 2 billion 704 million in October, 3 billion 874 million in November, 4 billion 25 million 22 million in January, 3 billion 87 million 24 million in January, 4 billion 12 million in February.
The outgoing president of the federation, Bhesraj Lohani, said that even though the statistics show that real estate transactions have increased, there is only a general improvement. "During times of despair, there was a slight improvement, so it was felt that it increased a lot, the business did not increase perceptibly," he said. Interest rates are continuously falling. It has increased real estate transactions. Nepal Rastra Bank's monthly installment income ratio is 60 percent in case of housing loans up to 50 lakhs. The federation demands that both of them should be raised to 80 percent, saying that it is 70 percent for the case above that. In July 2008, the National Bank had provided a maximum loan of Rs 2 crore to those who wanted to build their first house. Earlier, there was a provision to get loans up to 15 million rupees.
From July to March of the current financial year, 16.86 billion 45 lakh rupees of housing loans (up to 2 crore rupees) have been disbursed. Nepal Rastra Bank data shows that during the same period of the last fiscal year, 36 billion 35 billion 25 million rupees were disbursed.
According to Rashtra Bank, in 8 months of the current financial year, 22 billion 93.9 million rupees for real estate loans have been disbursed. During the same period of the last financial year, the loan flow to real estate was negative. During that period, real estate loans of 1.3 billion 3.4 million rupees were negative. Rashtra Bank says that it is negative because the debt to be recovered is more than the loan to be disbursed by the bank. According to the data of Rashtra Bank, under real estate loans, most of the flow is in other real estate (land purchase and plotting). In other real estate (land purchase and plotting), 19 billion 545 million rupees have been disbursed in 8 months. Other real estate (land purchase and plotting) loans were negative by 3.14 billion rupees in 8 months of the last financial year.
