Deadline extended for real estate permit applications
Applications can now be submitted until Mangsir 27, according to the department.
KATHMANDU: The Department of Land Management and Archives has extended the deadline for firms, companies, and institutions seeking permits to engage in real-estate transactions.
Applications can now be submitted until Mangsir 27, according to the department.
Earlier, on Asoj 13, the department had issued a public notice inviting applications as required under the Land Revenue Act, 2034, which mandates permits for conducting land and housing transactions.
In the first phase, the government has designated metropolitan and sub-metropolitan cities as the operational areas for such companies.
Firms or companies aiming to conduct transactions exceeding Rs 30 million at a time are eligible to apply.
The initiative aims to make Nepal’s real-estate sector more transparent, dignified, and systematic.
The department stated that the extension—effective from last Friday—was made because only a limited number of applications were received earlier.
In the first phase, the government has moved forward with the company registration process in six metropolitan cities and 11 sub-metropolitan cities to regulate real-estate dealings.
According to the department, real-estate transactions in Kartik generated revenue worth Rs 2.74 billion, including Rs 213.4 million in service tax, Rs 1.50 billion in registration fees, and Rs 997.8 million in capital gains tax.
