“Kathmandu Plaza” that has been idle for 32 months been rented by metropolitan, now service from one place

KATHMANDU: The ‘Kathmandu Plaza’ building in Kamaladi, which had been stranded for about 32 months, has been leased. The Kathmandu Metropolitan City has leased the Nepal Trust building for up to ten years.

A contract for renting/giving the building was signed between the trust office and the city.

The agreement was signed by Bishnuraj Dhakal, joint secretary of the trust, and Basanta Adhikari, chief administrative officer of the metropolitan.

The Kathmandu metropolitan area has agreed to pay the trust a monthly rent of 605,00,00 rupees. After five years, the rent will increase at a rate of 10% beginning Chaith 9 (March 23).

A decision was made in 2077 Baisakh regarding the vacating the building of Kathmandu Plaza and leasing it to the metropolis. The contract with Concept Developers Pvt Ltd, which was leasing the building, was canceled in 2077 Ashar.

The conceptual developers, on the other hand, went to court and claimed that they should be able to rent the building. In 2078 Baisakh, the trust’s office vacated the building with the assistance of the police after the businessmen who were doing business there illegally occupied the building.

The case of Concept Developers Pvt. Ltd., which proceeded to the Supreme Court via the district court, has concluded.

The path to renting the building has been opened after the Supreme Court rejected Concept’s petition to rent the building itself.

On Magh 26 (Feb 9), a Supreme Court bench comprised of Justices Bishwambhar Lal Shrestha and Kumar Regmi dismissed two writs in this matter, and an agreement to take the lease was reached.