The Department of Land Management and Records has so far asked 108 applicants to pay revenue for obtaining a license. Of these, 26 applicants have already paid the revenue, said Khimananda Acharya, director of the department's Land Revenue and Land Reforms Branch.

'So far, 108 applicants eligible for licenses have been decided, we have asked them to pay the revenue as soon as possible,' Acharya said, 'So far, 26 have paid the revenue . We will issue licenses to those applicants within a few days .'

The department had sent documents to the police to obtain information about the companies seeking permission, the shareholders of the three  being blacklisted or not and whether they were found guilty by the court or not . Out of which, the police have returned 108 applications to the department with the information . The department has stated that the documents of the remaining applicants are being processed . After obtaining the licenses, these companies will be able to conduct business within 6 metropolitan cities and 11 sub-metropolitan cities .

The department has stated that 198 companies have applied for real estate business licenses. The government had issued a notice in the Gazette on 27 Ashoja, requiring companies dealing in real estate worth more than 30 million rupees at a time to obtain a permit. 

Companies dealing in real estate had to apply for a permit by 27 Mangsir. The Land Management Records Department had issued a notice on 13 Kartik asking them to submit the application within 30 days. Immediately, an additional 15 days were added on 13 Mangsir. It was said that 197 companies had applied during that period, but now only 197 have been reported.

The gazette mentions that the government has published a notice for the purposes of Section 26 (a) and (b) of the Land Revenue Act. Section 26 (a) of the Land Revenue Act mentions that a license is required to conduct real estate transactions. The section mentions that a license is required to be obtained for conducting real estate transactions exceeding the area or amount specified in the notice published by the government in the same area.

It mentions that an application for a license is required under Section 26 (b) of the Act. In Sub-section 1 of Section 26, ‘B’, it is mentioned that a person who wants to get a license to conduct real estate transactions should submit an application to the authority designated by the Government of Nepal by publishing a notification in the Nepal Gazette along with the prescribed details, documents and fees. The Director General of the Department of Land Management has been designated as such authority.

In Sub-section 3 of the same section, it is mentioned that if the application received is found to be reasonable, the concerned authority should issue a license to the applicant to conduct real estate transactions by mentioning the prescribed conditions. It is mentioned in Sub-section 4 of Section 26, ‘B’, that the period of the said license will be for five years. In Sub-section ‘J’ of Section 23 of the Land Revenue Regulations, 2036, it is stated that a person who wants to get a license to conduct real estate transactions between natural and legal persons or between legal persons, as per Sub-section ‘A’ of Section 26 of the Land Revenue Act, should submit an application to the designated authority.

When submitting an application, a copy of the company or firm registration certificate for the purpose of conducting real estate transactions, a copy of the company's articles of association, and a copy of the updated share register must be submitted. The regulations stipulate that a copy of the permanent account number registration certificate, a copy of the company or firm's tax payment certificate for the last fiscal year, and a detailed business plan of the company or firm must be submitted along with the application.

The regulations stipulate that a copy of the decision of the company or firm's board of directors must be submitted to obtain a license for real estate transactions, as well as the company or firm's website, email, and contact person number. 

Once the license is granted, the firm or company must pay a fee of five hundred thousand rupees for transactions up to fifty million rupees at a time, and a fee of one million rupees for transactions of any amount less than or more than fifty million rupees at a time.