Govt implements mandatory license for high-value real estate transactions
According to a notice published in the Nepal Gazette on Ashoj 27, the license will be applicable within metropolitan and sub-metropolitan areas.
KATHMANDU: The government has implemented a new rule requiring firms, companies, and institutions to obtain a license before conducting real estate transactions exceeding Rs 30 million.
On Thursday, the Department of Land Management and Records under the Ministry of Land Management, Cooperatives, and Poverty Alleviation invited applications for the real estate transaction license.
According to a notice published in the Nepal Gazette on Ashoj 27, the license will be applicable within metropolitan and sub-metropolitan areas.
Under the new provision, any firm, company, or institution intending to conduct transactions above Rs 30 million must submit an online application within 30 days.
Applicants are required to scan and submit documents as specified in Schedule 8 of the Land Revenue Regulations, 2036 (8th Amendment, 2082).
The fee structure for the license is based on the transaction value.
Entities planning to transact up to Rs 50 million must pay a fee of Rs 500,000, while those transacting amounts above or below Rs 50 million are required to pay Rs 1 million.
The licensing system has been welcomed by real estate professionals, who see it as a positive step toward regulating high-value property transactions.
