"Disregarding what happened in the past, from now on we have decided not to buy arable land for plotting," Dinesh Lal Chuke, committee chairman told myrepublica.com. [break]
The meeting also decided to follow the regulations on land development set by the municipality and town development committee strictly.
Land development projects have grown rapidly in Chitwan and Nawalparasi. Over the past months, the district would see more than 5,000 cases of land registration per month. With the price of developed land plots skyrocketing in market areas and realtors moving to rurual areas, arable land area is shrinking in the district.
But, the central bank´s recent decision to cap the exposure of banks and financial institution to housing and real estate loans has dampened the plotting business. Despite that the committee has welcomed the central bank´s decision.
Chuke opined that the policy should be implemented and monitored strictly and steps should be taken to make the plotting business disciplined.
A working committee has been formed under Chairman Chuke´s leadership to ensure effective implementation of the decision made by the committee.
Since Chitwan is often touted as an alternative capital, there have been concerns for a long time over the need to bring construction and land development regulatory policy.
The meeting also decided that realtors will work in coordination with political parties and social organizations while working on road, electricity and drinking water projects.
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