The fourth annual general meeting of the Nepal Land and Housing Development Federation has issued a 25-point Bharatpur Declaration 2083 for reform, investment promotion and policy clarity in the sector by various organizations related to the real estate business. The federation has urged the government to take immediate reform steps, saying that the sector has been affected due to existing legal and administrative complexities.

The main demand in the issued declaration is to amend the relevant law to ensure that real estate companies are not subject to land limits. Similarly, they say that a clear policy is needed for a long-term solution to the problem of allotment.

The demand has also been put forward to provide for tax-free transfer and automatic transfer of common areas of joint and collective housing to the management committee, and to formulate integrated policies and laws related to land and housing and implement them effectively. In addition, it has been urged to simplify the planning permit system through a single-door system and implement it with tax concessions.

Businessmen have said that unreasonable restrictions related to private Guthi land transactions and road expansion should be removed, the Land Use Act should be amended in a timely manner, and a policy should be adopted to make the land registration system permanent and predictable.

They also demand that legal clarity be brought to real estate transactions to ensure banking security, a realistic valuation system should be implemented across the country, and a system should be made to allow foreign citizens to purchase apartments in Nepal. They say that non-resident Nepalis should be given the right to purchase real estate like Nepali citizens.

Similarly, they have demanded that clear criteria be set for the operation of land pooling and house pooling programs, that an integrated urban development act be issued for inclusive and sustainable urban development, and that various land-related laws be integrated into a land code.

They demand that the real estate sector be recognized like other industries and provided with concessional loans, that the private sector should ensure participation in smart cities and modern urban development, and that local body fees be made equal for both businessmen and individuals.

Similarly, it has been mentioned that transparent and fast service delivery should be ensured through digital systems in land revenue and survey offices, that credit flow should be continuous for long-term projects, and that impractical provisions related to blacklisting should be removed.

The demands include making the provisions related to personal guarantee practical, increasing revenue through realistic valuation by reducing registration fees, and making arrangements to bring grants from international funds for climate-friendly urban development projects.