The district recorded a total of 35,073 land transactions in 2009/10, up from 34,212 recorded a year earlier. Revenue from land transactions also increased significantly in the review year. [break]
The central bank on December 17 had directed banks and financial institutions to control loan flow to the housing and real estate sector to prevent the real estate bubble from bursting.
Buddhi Kumar Shrestha, an employee at the Land Revenue Office (LRO) in Bharatpur, said overall transactions of land has increased despite the cap on lending to realty sectors.
The office collected Rs 238.2 million in revenue from land transactions in 2009/10, up from Rs 181.9 million collected in 2008/09.
“Revenue collection was impressive till the second week of December. But it started falling down with the slowdown in transaction,” Lalkrishna Sharma Paudel of LRO Chitwan. He further added that the monthly land transactions had dropped to about 3,000 from well above 5,000 after the NRB put cap on realty lending.
Officials said revenue collection increased despite drop in transactions because of the rise in reference value of land.
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