KATHMANDU, Aug 8: Large-scale property transactions in Nepal’s metropolitan and sub-metropolitan areas are entering a more tightly regulated regime, with firms handling deals worth more than Rs 30 million now required to obtain a government license.
The Department of Land Management and Archives (DoLMA), through a public notice, has asked companies involved in such transactions to apply online for a license within 21 days.
The move follows a government decision published in the Nepal Gazette requiring property transactions above the prescribed threshold to be carried out only through registered companies with approval from the DoLMA.
NCP CC members demand top leaders disclose their property
Under the new arrangement, firms buying or selling property worth more than Rs 30 million at a time in metropolitan and sub-metropolitan areas must obtain a license from the department.
The licensing fees vary depending on the value of the transaction. Firms handling transactions of up to Rs 50 million at a time will have to pay Rs 500,000 for the license. For transactions exceeding Rs 50 million, the fee has been fixed at Rs 1 million.
The DoLMA has also made it clear that earlier applications will not automatically carry over into the new licensing system.
According to the latest notice, firms that had submitted online applications in response to a previous DoLMA notice but had not received approval by the end of the last fiscal year must apply again for a license.
The new rules also place greater emphasis on the background of those operating real estate firms.
Directors of the companies applying for licenses must submit an affidavit declaring that they have no criminal record, based on information maintained by the Nepal Police’s Central Crime Information Archive, according to the DoLMA.
The licensing requirement marks a significant shift in the way high-value property transactions are conducted in the country, bringing large real estate deals under closer regulatory oversight.
