KATHMANDU, March 16: The real estate turnover has further declined in the month of Falgun (mid-February to mid-March). Compared to the previous month of Magh (mid-January to mid-February), there has been a decrease in both real estate turnover and the revenue generated from them in Falgun.
According to the Department of Land Management and Archive (DoLMA), a total of 46,061 documents of land ownership were approved from the land revenue offices across the country in the month of Falgun. This is only eight less than the total land ownership approved in the previous month of Magh. In the same month of the last fiscal year 2023/24, a total of 49,287 land ownerships were approved across the country, while 49,290 documents of land ownership were registered and approved in the month of Magh last year.
Similarly, there has been a slight decline in the revenue collected by the government from the buying and selling of land and property. The revenue collection in Falgun decreased by Rs 130 million compared to Magh. In Falgun, the land revenue offices across the country collected Rs 4.12 billion, while in the Magh, Rs 4.25 billion were collected. According to the DoLMA‘s data, in Falgun of the previous year, land revenue offices across the country collected Rs 3.95 billion, and in Magh, Rs 3.72 billion.
In the month of Falgun, the Land Revenue Office in Inaruwa, Sunsari, has recorded the highest number of real estate transactions. A total of 1,947 documents of land ownership were approved from there in this month. Similarly, 1,712 documents of land ownership were approved from Bhadrapur, 1,575 from Belbari, 1,549 from Janakpur, and 1,187 from Rajbiraj.
In the Kathmandu Valley, Land Revenue Office Bhaktapur has seen the highest number of real estate transactions. In the month of Falgun, Bhaktapur approved 908 documents of land ownership. Following that, 840 documents of land ownership were approved from the Land Revenue Office, Lagankhel; 621 from Kalanki; 468 from Sankhu, 160 from Dillibazar, and 151 from Dillibazar.
In the month of Falgun, the Land Revenue Office, Lagankhel, has collected the highest revenue, collecting Rs 380 million in revenue. Following that, Bhaktapur collected Rs 258.7 million, Dillibazar collected Rs 258.1 million, Kalanki collected Rs 226 million, and Chabahil collected Rs 216.8 million, according to the DoLMA's data.