The government has collected Rs 2.74 billion 51 million in revenue from real estate transactions in the current fiscal year in Kartik. This is less than last Asoj.

The Land Management and Records Department has data showing that Rs 2.7585 billion in revenue was collected in Asoj. Although real estate transactions and land titles increased in Kartik compared to last Asoj, the revenue has decreased.

Real estate transactions have been continuously decreasing in Bhadra and Asoj since the current fiscal year compared to Shrawan, but have increased moderately in Kartik. But the revenue has not increased. While Rs 3.28 billion in revenue was collected in Shrawan, only Rs 3.14 billion was collected in Bhadra. Only Rs 2.75 billion was collected in Asoj and Rs 2.74 billion in Kartik.

Although the revenue has not increased, land titles have increased. While 23,353 deeds were passed in Asoj, 28,383 deeds were passed in Kartik. The department has stated that there were 79,739 real estate transactions in Asoj and 93,669 in Kartik. While there were 14,218 total real estate transactions in Shrawan, it was limited to 12,971 in Bhadau. The department has data that only 79,736 real estate transactions were made in Asoj. In Kartik, the number of real estate transactions has increased.

Along with real estate transactions, there has been an increase in real estate transactions. There were 42,563 real estate transactions in Shrawan and 37,553 real estate transactions in Bhadau. There were 35,349 real estate transactions in Asoj, while there were 42,012 real estate transactions in Kartik, according to the department. This is the lowest real estate transaction and revenue collection since Kartik 2080. In 2080 Kartik, 77,185 real estate transactions were made, generating a revenue of Rs 2.16 billion 3.8 million.

Bishnu Ghimire, president of the Nepal Real Estate and Housing Development Federation, said that the revenue collected from real estate has decreased due to the closure of the land registry. ‘The land registry has been opened, now it will increase in Mangsir,’ he said. Ghimire said that if it depends only on the municipalities, the land registry may be closed again from next Shrawan. ‘In four years, only 253 municipalities have been classified, now can 500 municipalities classify in 8 months?’ He said that the federal government and the provincial government should take the initiative to prevent the land registry from being stopped again and to ensure that the municipalities classify on time.

During the Gen-G protests on 23 and 24 Bhadra, more than two dozen land revenue offices were damaged and the land registry was closed, so the business could not increase. The Ministry of Land Management, Cooperatives and Poverty Alleviation has stated that 253 municipalities have already been classified in terms of plots. However, the ministry says that 500 municipalities are in various stages of classification.

The government has already amended the Land Use Regulations, 2079 BS for the third time to clarify the plots as the municipalities did not classify them on time. Land administration work, including plotting, had been stopped in 620 municipalities since the beginning of Bhadra 2081 BS. At that time, only 133 municipalities had completely classified their land. Immediately on 27 Bhadra 2081 BS, the Land Use Regulations, 2079 BS were amended for the second time, giving municipalities until Asar 2082 BS to classify their land. The ministry has stated that only 253 municipalities had completely classified their land by Asar 2082 BS, while plotting has stalled in 500 municipalities.

When the regulations were issued in Jestha 2079 BS, four forts had to be opened and agricultural areas had to be designated within 6 months. By Mangsir 2079 BS, only a few municipalities had allocated agricultural areas. After Mangsir 2079, land had to be classified into all 10 zones. However, after most municipalities did not classify the land, the regulation was amended on 32 Shrawan 2080 and a provision was made to designate agricultural zones by opening four forts within a year.

The first amendment to the regulation allowed residential and commercial land to be divided into plots up to 80 square meters and agricultural land up to one ropani. Earlier, residential land could not be divided into plots less than 130 square meters. In the case of agricultural land, there was a provision that plots could not be divided into plots less than 500 square meters in the valley and 675 square meters in the Terai and inner Madhesh.

The land classified by the government has separate criteria for agriculture, residential and commercial. The regulation states that local road standards must be met for commercial housing. After the municipality did not classify it even after extending the period by one year from the first amendment, the ministry amended the regulation for the second time in Bhadra 2081.

Even after amending the regulations twice and extending the time for land classification, 500 municipalities have not classified their land. The government has amended the Land Use Regulations, 2082 for the third time, and the land division has been opened. The government has given time for classification within the upcoming Ashar. Three and a half years after the issuance of the Land Use Regulations, only 253 out of 753 municipalities in the country have completely classified their land. The land division had been stalled since Shrawan after the remaining 500 municipalities did not completely classify their land.