KATHMANDU, Aug 1: Over 46,000 houses were bought and sold in the Kathmandu Valley in the last fiscal year (FY) 2023/24.

A total of 46,286 houses were bought and sold in the three districts of the Kathmandu Valley, according to the Department of Land Management and Archive (DoLMA). However, this represents a decrease of only 277 transactions compared to the previous fiscal year.

Despite an overall increase in transactions across the country, the main urban areas continue to face pressure. Currently, real estate transactions are being processed through nine land revenue offices in the three districts of the Kathmandu Valley.

According to DoLMA, in the past fiscal year, there were 4,900 real estate transactions in Ashar (mid-June to mid-July), 4,863 in Jestha (mid-May to mid-June), 3,938 in Baishakh (mid-April to mid-May), 4,269 in Chaitra (mid-March to mid-April), 4,203 in Falgun (mid-February to mid-March), 4,165 in Magh (mid-January to mid-February), 3,410 in Poush (mid-December to mid-January), and 3,176 in Mangsir (mid-November to mid-December). Additionally, there were 2,220 transactions in Kartik (mid-October to mid-November), 4,284 in Ashoj (mid-September to mid-October), 3,646 in Bhadra (mid-August to mid-September), and 3,412 in Shrawan (mid-July to mid-August).

Transaction Activity Increases in Chabahil, Dilli Bazaar, and Manamaiju Areas

Although there has been a surge in the buying and selling of rural properties outside the Kathmandu Valley, there has been no significant improvement in the transaction of high-priced real estate in the main cities.

In the Kathmandu Valley, areas such as Durbar Marg, Dillibazar, Naxal, New Road, New Baneshwar, Thapathali, Babar Mahal, Ratopul, Lainchaur, and Putalisadak are considered expensive. Additionally, high-value real estate transactions also occur in areas like Balaju Bypass, Banasthali, Dhungedhara, and Maharajgunj. Similarly, within the Ring Road, properties in Lalitpur and Kalanki are also sold at high prices. However, there has not been a notable increase in transactions in these areas.

According to DoLMA, the highest number of property transactions within the valley has been recorded through the nine land revenue offices, with Bhaktapur leading in transactions. A total of 11,030 properties have been bought and sold through the Land Reform and Land Revenue Office in Bhaktapur over the past year. Compared to the previous year, there has been an increase in transactions in Bhaktapur, with 317 more real estate properties sold this year. Last year, the office recorded 10,713 real estate transactions.

After Bhaktapur, the highest number of real estate transactions took place through the Lagankhel office. Last year, this office recorded 10,721 real estate transactions. In the previous year, there were 7,794 transactions through this office.

In the Kathmandu Valley, the least number of property transactions were recorded through the Gatikhel office in Lalitpur, with only 230 transactions in a year. Last year, property transactions in areas like Chabahil, Dillibazar, and Manamaiju in Kathmandu were moderate.

The Manamaiju area has seen the most significant increase. Last year, 2,686 real estate properties were bought and sold through the Manamaiju office, which is 766 more than the previous year. The previous year had seen only 1,920 transactions in this area. Similarly, the Chabahil area also experienced an increase, with 23 more properties bought and sold compared to the previous year. The office recorded 5,143 transactions the year before, while last year, there were 5,166 transactions.

In Kathmandu’s Dilli Bazar area, which is considered the most expensive in the valley, 2,355 real estate properties were bought and sold in a year. This represents an increase of 99 properties compared to the previous year. The previous year saw 2,256 transactions through the Dilli Bazar office.

According to DoLMA, 1,734 properties were bought and sold through the Tokha Land Revenue Office. The previous year also saw 1,719 transactions through this office.

Similarly, DoLMA reported that 7,831 properties were bought and sold through the Kalanki Land Revenue Office last year. However, this is a decrease of 211 transactions compared to the previous year. In Kathmandu's Sankhu area, real estate transactions have also significantly decreased. The Sankhu Land Revenue Office recorded 4,533 transactions last year, whereas 5,757 transactions were reported in the previous year.

Revenue Increases by Rs 3.88 Billion Despite Pressure on Transactions

Although real estate transactions in the Kathmandu Valley are under pressure, revenue collection has increased. Over the course of a year, revenue has grown by nearly Rs 3.88 billion.

In the previous fiscal year, the government collected revenue of Rs 15.04 billion from real estate transactions in the Valley. However, last year, this amount increased by Rs 3.88 billion. According to DoLMA, the total revenue collected by the government last year was Rs 18.94 billion.

In the Valley, revenue collection has also been significant from different areas: Rs 4.34 billion from Lagankhel, Rs 3.34 billion from Bhaktapur, and Rs 3.09 billion from Dilli Bazar.

Similarly, revenue collection has been Rs 2.72 billion from the Land Revenue Office in Kalanki, Rs 2.67 billion from Chabahil, Rs 1.02 billion from Sankhu, Rs 870 million from Manamaiju, Rs 840 million from Tokha, and Rs 9.1 million from Gotikhel.

 
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