Real estate transactions generated revenue of Rs 6.16 billion 5.7 billion in Chaitra alone. This is the highest since Shrawan of the current fiscal year. According to the monthly data of the Department of Land Management and Records, real estate transactions increased in Chaitra. Real estate transactions, land acquisitions and revenue decreased in Falgun.

While 111,494 real estate transactions were made in Falgun, only 176,771 were made in Chaitra.

The department's data shows that not only the number of overall real estate transactions but also the number of new real estate purchases and sales increased. While 55,531 new real estate purchases and sales were made in Chaitra, 36,471 new real estate purchases and sales were made in Falgun.

Meanwhile, the government has made it mandatory for real estate transactions with a turnover of more than Rs 30 million to be conducted only by licensed companies. The department issued a notification on Monday and made mandatory transactions only by companies within metropolitan cities and sub-metropolitan cities across the country. 

Businessmen have been citing land division as the main reason for the fluctuation in real estate transactions. Businessmen also say that when land division is closed, transactions decrease and when land division is opened, transactions increase. With the issuance of the Land Use Regulations, 2079 BS, land division is being closed and opened in the country.

According to the regulations, municipalities across the country must classify the land under their jurisdiction into 10 areas, including agriculture and commercial. However, when municipalities do not classify, land division is being stopped and opened. 

The government has already amended the regulations three times and opened land division. Since Shrawan of the current fiscal year, land division was stopped in 500 municipalities when municipalities did not classify. Businessmen had been saying that real estate transactions decreased when land division was stopped. At the end of last Kartik, the government amended the Land Use Regulations, 2082 BS and opened land division.

The government has already amended the Land Use Regulations, 2079 for the third time in Kartik to clear the land allotment as the municipalities did not classify it on time. Since the beginning of Bhadra 2081, land administration work including land allotment had been stopped in 620 municipalities. At that time, only 133 municipalities had classified their land completely.

Immediately after, on 27 Bhadra 2081, the Land Use Regulations, 2079 were amended for the second time and municipalities were given time until Asad 2082 to classify their land. As only 253 municipalities had classified it completely by Asad 2082, land allotment was stopped in 500 municipalities.

When the regulations were issued in Jestha 2079, there was a provision to open four forts and designate agricultural areas within 6 months. By Mangsir 2079, only a few municipalities had allocated agricultural areas. After that, the land had to be classified into all 10 areas. But since most municipalities did not classify it, the regulations were amended on 32 Shrawan 2080 and a provision was made to open four forts and designate agricultural areas within a year.

Four years after the government issued the Land Use Regulations, only 338 municipalities have classified real estate as of last Magh. Out of a total of 753, only 44.89 percent municipalities have classified real estate with plot-wise details, according to the Ministry of Land Management, Cooperatives and Poverty Alleviation. 

According to the ministry, 47 municipalities have not yet started classification. A total of 164 municipalities are preparing the basis and criteria and updating the maps and preparing plot-wise details. 138 municipalities are preparing the basis and criteria and updating the maps. 51 municipalities are preparing the basis and criteria and 15 municipalities have only allocated agricultural areas.

The Gen-G demonstration took place last Bhadra. Businessmen have been saying that real estate transactions and revenue have decreased due to the closure of plot-wise sections in most municipalities and damage to the Land Revenue and Land Reform Offices due to the Gen-G demonstration. Compared to Shrawan and Bhadra of the current fiscal year, revenue decreased in Asar and Kartik.