Although the government has made it mandatory to obtain a license to trade in real estate, only 36 companies have obtained it so far. The government has made it mandatory to obtain a license for real estate transactions with a value of more than 30 million rupees in metropolitan cities and sub-metropolitan cities across the country. The Department of Land Management and Records has stated that although 135 companies are eligible to be granted licenses, only 36 companies have been issued them as the revenue has not been paid.

Once the license is decided, the firm or company that transacts up to 50 million rupees at a time will have to pay a fee of 500,000 rupees and those that transact any amount less than or more than 50 million rupees at a time will have to pay a fee of 100,000 rupees.

A total of 36 companies have been issued licenses and 2 companies are in the process of being issued licenses, said Khimananda Acharya, Director of the Department's Land Revenue and Land Reforms Branch. 'The documents of 25 companies are under review, and out of the companies that have been reviewed, 30 are on the blacklist, so licenses cannot be issued,' he said.

The department sends documents to the police to get information about the companies that have applied for permission, whether the shareholders of three are on the blacklist or not, and whether they have been found guilty by the court. The department has stated that the documents of 25 out of a total of 197 applicants are under process. Companies that have received licenses will be allowed to conduct business within 6 metropolitan cities and 11 sub-metropolitan cities.

The government had issued a notification in the gazette on 27 Ashoja, making it mandatory for companies dealing in real estate worth more than 30 million rupees at a time to obtain a license. Real estate companies had to apply for a license by 27 Mangsir. The Land Management and Records Department had issued a notification on 13 Kartik asking them to submit applications within 30 days. Immediately, an additional 15 days were added on 13 Mangsir. Although it was said that 198 companies had applied during that period, it has now been stated that only 197 have been received.

The government has published a notice in the Gazette for the purposes of Section 26, Sections ‘A’ and ‘B’ of the Land Revenue Act. Section 26,

In Sub-section 3 of the same section, if the application received is found to be reasonable, the concerned officer shall issue a license to the applicant to conduct real estate transactions, stating the conditions as prescribed. The term of the license shall be for five years, as mentioned in Sub-section 4 of Section 26, ‘B’. In Sub-section ‘J’ of Section 23 of the Land Revenue Regulations, 2036, it is stated that a person who wishes to obtain a license to conduct real estate transactions between natural and legal persons or legal persons shall apply to the specified officer as per Sub-section ‘A’ of Section 26 of the Land Revenue Act.

While submitting the application, a copy of the company or firm registration certificate with the intention of conducting real estate transactions, a copy of the company’s memorandum of association and a copy of the updated share register in the case of a company, 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 state that a copy of the company or firm's board of directors' decision and the company or firm's website, email, and contact number must be submitted to obtain a license for real estate transactions. Real estate professionals have expressed dissatisfaction, saying that the government is trying to regulate only transactions conducted through companies without doing anything to real estate business people.

Companies that have received licenses

1. Himalayan Realtors Pvt. Ltd.

2. Continental Real Estate Pvt. Ltd.

3. SK Home Real Estate Company Pvt. Ltd.

4. Ruby Crown Properties Pvt. Ltd.

5. Nandi Real Estate Pvt. Ltd.

6. Iguras Property Solutions Pvt. Ltd.

7. Zamindar Real Estate Private Limited

8. Tilottama Builders Pvt. Ltd.

9. Real Estate Agency Pvt. Ltd.

10. Buspirop Real Estate Pvt. Ltd.

11. Ashok Ghar Sansar Nepal Pvt. Ltd.

12. Panas Biz Serv Pvt. Ltd.

13. Lumbini Real Estate and Multipurpose

14. Krishna Developers Pvt. Ltd.

15. Gyan Eco Innovation Investment Nepal

16. Bhumiraj Estates

17. Dale Bhai Real Estate Pvt. Ltd.

18. Sky World Real Estate Solution Pvt. Ltd.

19. Empire Real Estate Development Pvt. Ltd.

20. Nepal Land Broker

21. DN Group of Companies Pvt. Ltd.

22. Bhojpur Siddhakali Housing Pvt. Ltd.

23. Prudential Developers Pvt. Ltd.

24. Chartered Real Estate

25. Ghar Jagga Sewa Pvt. Ltd.

26. Omoga Capital Advisors Pvt. Ltd.

27. Ritambhara Multipurpose Investment Pvt. Ltd.

28. Metro Link Properties Pvt. Ltd.

29. Birat Real Estate and Housing