Revenue also decreased as turnover and quotas decreased in Magh. While revenue collection was Rs. 5.17 billion in Poush, only Rs. 5 billion was collected in Magh.
What you should know
The government has collected Rs 26.96 billion 4.8 million in revenue from real estate transactions in the first seven months of the current fiscal year (Shrawan-Magh). This is the highest in the last three years, according to the Department of Land Management and Records.
In the first 7 months of the previous 3 years, revenue was collected at Rs 21.94 billion in 2079/80, Rs 21.65 billion in 2080/81, and Rs 24.71 billion in 2081/82, respectively.
The Land Revenue Office, Land Reforms and Land Revenue Office have been collecting revenue under various headings including service tax, registration fee, door facility fee, etc. Out of this, only the revenue collected from capital gains tax goes to the federal government, while the rest is distributed to the provinces and municipalities, according to the department.
According to the department, the highest revenue was collected in Poush in the current fiscal year. In Poush alone, revenue was collected at Rs 5.17 billion. The lowest revenue was collected in Kartik at Rs 2.75 billion. 51 lakh. In Asoj, revenue was collected at Rs 2.75 billion. 85 lakh, in Bhadau, Rs 3.14 billion. 7 lakh, in Shrawan, Rs 3.28 billion, in Mangsir, Rs 4.84 billion. 81 lakh and in Magh, revenue was collected at Rs 5.99 billion.
In the current fiscal year, 104,218 real estate transactions were made in Shrawan, while 102,971 were made in Bhadra. However, there was a significant decrease in transactions after the Gen-G movement on 23 Bhadra. The Land Reforms and Land Revenue Office was the most damaged in the protests on 24 Bhadra. Despite the formation of an interim government in the country, real estate transactions did not gain momentum in Kartik and Asoj due to lack of enthusiasm among investors.
On the other hand, the municipalities did not classify real estate, so even the division of land was stopped. That is why businessmen say that real estate transactions have decreased. Although real estate transactions decreased in Asoj and Kartik, data shows that they increased in Mangsir and Poush. According to the department, there were 79,736 real estate transactions in Asoj, 93,669 in Kartik, 158,899 in Mangsir, 162,877 in Poush, and 153,920 in Magh.
The number of land lots that had decreased since the beginning of Shrawan due to non-classification by the municipality has started increasing since the beginning of Mangsir. There were 42,563 land lots in Shrawan, 37,553 in Bhadra, 35,349 in Asoj and 42,012 in Kartik. Land lots had been stopped since the beginning of Shrawan as the municipalities did not classify the land. Land lots were opened after the government amended the Land Use Regulations, 2082 for the third time on 24 Kartik. That is why land lots have increased sharply since Mangsir. There were 112,618 land lots in Mangsir, 133,568 in Poush and 120,426 land lots in Magh.
The opening of land lots has made real estate transactions active since Mangsir. ‘The land division was closed from Shrawan to the third week of Kartik,’ he said, ‘The land division that was done until Asar was bought and sold until Kartik, and since it opened at the end of Kartik, it has had an impact on real estate transactions and revenue since then.’ Ghimire urges that the land division be opened in the long term as the municipalities will be closed again from next Shrawan due to non-classification.
The government has already amended the Land Use Regulations, 2079 BS for the third time to open the land division as the municipalities did not classify on time. Since Bhadra 2081 BS, land division and other work had been stopped in 620 municipalities. At that time, only 133 municipalities had classified land. Immediately on 27 Bhadra 2081 BS, the Land Use Regulations, 2079 BS were amended for the second time, giving the municipalities time until Asar 2082 BS to classify the land.
