House rent in Kathmandu to rise by 10% every two years
According to the guidelines, three copies of the written agreement should be signed and one copy should be submitted to the ward office.
KATHMANDU: Landlords in Kathmandu Metropolitan City must now notify the Metropolitan City within seven days when they rent out their property and when it is vacant. By issuing the ‘House Restoration System Directory 2079,’ the metropolis has made such an arrangement.
According to the guidelines, three copies of the written agreement should be signed and one copy should be submitted to the ward office.
The contracting party shall keep one of the remaining two copies. If the tenant fails to notify the landlord that the house is vacant, the tenant will be required to pay the house maintenance tax for that period.
The metropolitan has introduced a provision that a contract must be entered into when a person gives the floor, shop, workshop, garage, warehouse, terrace, shed (roof), factory, real estate or the land or pool to be restored.
In the contract for the restoration of the house, the amount to be restored, the date to be paid, the period for which the restoration will be maintained and the extension of the period must be mentioned.
The number of restored houses in the city is expected to increase by 10% in the next two years, according to the guidelines.
‘The amount of house maintenance will be increased at a rate of 10% every 2/2 years,’ states point number 7 of the format of the agreement letter prepared by the city.
According to Dhurva Kafle, the head of the metropolis’ revenue department, if landlords are unable to collect the arbitrary rent, they will be required to pay house restoration tax in the metropolitan based on the specified rent.
Full text of the House Restoration Directory:-
