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Minister of Land Management, Cooperatives and Poverty Alleviation Balram Adhikari has said that the Land Ordinance has been stopped due to the unsigned Giribandhu T-Estate. The Land Minister Adhikari said this in a program organized on the occasion of the third foundation day of the Nepal Land and Housing Development Federation.
"It was misinterpreted that the ordinance was brought to benefit the Giribandhu T-Estate," he said, "Giribandhu T-Estate has nothing to do with the land ordinance." He said that the ordinance was not passed by the National Assembly even though it was passed by the House of Representatives.
The minister informed that a committee has been formed to rewrite the old Survey Act and Land Act. "A committee has been formed to make a new Survey Act of 2019 and Land Act of 2021," he said. He also said that the draft of the new surveyors act has been prepared.
According to him, the real estate business, which has developed as an industry in other countries, is not the same in Nepal. "It has not been established that the real estate business is working in the interest of the country and the people," he said. Has the law been violated in the name of financial gain? It is important to see that,' said the ministerial official. Minman Shrestha, founder president of the
federation, said that despite the policy of allowing foreigners to sell apartments for the past three financial years, there is a lack of procedures. "Even though there is provision in the budget, it has not been implemented because there is no procedure," He said.
Shrestha stressed that the system of allowing foreigners to buy apartments without giving ownership of land should be brought in such a way that it lasts for a long time. "Let this arrangement be continued and implemented in the upcoming budget as well," he said.
He mentioned that there is a huge difference between the market value and the government valuation. "There is a difference of more than 10 times between the market price and the government valuation," Shrestha said, "so it is necessary to increase the government valuation."
