Minister calls for active role of entrepreneurs to boost real estate industry
Minister Adhikari noted that clearing public misconceptions about the real estate industry is the responsibility of the business community itself.
KATHMANDU: Minister for Land Management, Cooperatives, and Poverty Alleviation, Balaram Adhikari, has emphasized the need for proactive engagement from entrepreneurs to develop Nepal’s real estate sector as a reputable and prestigious industry.
Speaking at the third anniversary celebration of the Nepal Land and Housing Development Federation today, Minister Adhikari noted that clearing public misconceptions about the real estate industry is the responsibility of the business community itself.
“In many countries, real estate is recognized as a prestigious industry, but in Nepal, it has struggled to send a positive message,” he said. “There’s a widespread belief that real estate in Nepal is solely profit-driven. That myth must be dispelled.”
The minister urged entrepreneurs to operate within the country’s legal framework, warning that without clearing such misconceptions, the sector cannot expand effectively.
He also informed that the government is undertaking policy, legal, and procedural reforms to facilitate the private sector.
Highlighting ongoing efforts, Minister Adhikari revealed that the government is preparing to amend six-decade-old land survey and management laws. “A draft of the Land Act is already under preparation, and a committee has been formed within the ministry to finalize it in consultation with experts and stakeholders,” he added. “The new Survey Act has already been drafted.”
Federation founder and advisor Buddhi Narayan Shrestha stated that the real estate sector plays a significant role in the national economy.
He stressed the importance of addressing existing challenges through dialogue with industry stakeholders.
“In the first nine months of the current fiscal year, the government collected Rs. 33 billion in revenue from the real estate sector,” he said. “It’s crucial to ease the burdens faced by real estate entrepreneurs.”
Federation President Bishnu Prasad Ghimire expressed readiness to partner with the government for national economic growth.
He urged authorities to eliminate persistent policy and legal complications affecting the industry.
During the event, Minister Adhikari honored founding member and border expert Buddhi Narayan Shrestha, along with advisor Meenmar Shrestha, for their contributions to the sector.
