Land Management, Cooperatives and Poverty Alleviation Minister Balram Adhikari has said that a committee has been formed to draft a new Land Survey and Land Act.

Speaking on the occasion of the third foundation day of the Nepal Real Estate and Housing Development Federation held in Kathmandu on Tuesday, he also said that the draft of the new Surveyors Act has been completed. "A committee has been formed to draft a new Survey Act of 2019 and Land Act of 2021," he said.

He said that the Land Ordinance was stopped by adding the unsigned Giribandhu T-State. 'It was misinterpreted that the ordinance was brought to benefit the Giribandhu T-State,' he said, 'Giribandhu T-State has no sign or connection with the Land Ordinance. The land ordinance failed when it was misinterpreted.'

He told that although the Land Ordinance was passed by the House of Representatives, it was not passed by the National Assembly. 

He said that the real estate business has developed as an industry in other countries but has not happened in Nepal.  "It has not been established that the real estate business body has worked for the country and the people, it is common understanding that they work only for their own benefit," he said, "The ministry is ready to solve the problems related to real estate business." He said that it is important to see that we have gone ahead with government regulations in the name of financial gain. 

Federation President Bishnu Prasad Ghimire said that the private sector has a great role in the economic development of the country. He said that the real estate business is ready to help the government in the economic development of Nepal. Minman Shrestha, founder president of the

Federation, said that although the policy of building apartments for foreigners has been introduced for the past three financial years, it has not been implemented. According to him, even though it was included in the budget, it was not implemented due to lack of procedures. He said that the system of buying apartments without giving land ownership to foreigners should be implemented. "Let this arrangement continue and be implemented in the next budget as well," he said.  Speaking at the

event, Vidur Dhamala, Senior Vice President of the Federation, said that the Land Act 2021 and the Survey Act 2019  He said he had to sit and work. He said that it would be easier in tourism, agriculture etc. if it could be combined with the private sector. "It is not just about real estate allocation, we have to use proper resources," he said.

Founder President Buddhinarayan Shrestha said that the federation was established to solve the problems encountered in the business.  

Sitaram Dahal, President of Nepal Accounting and Legal Practitioners Association, said that they will cooperate with Nepal Real Estate and Housing Development Federation. Buddhinarayan Shrestha and Meenman Shrestha were honored at the