Revenue surged by Rs 250 million, reaching a total of around Rs 4 billion
KATHMANDU, March 14: The real estate market has been stable during the Nepali month of Falgun (mid-February to mid-March). The number of transactions observed during Falgun was similar to that recorded in Magh (mid-January to mid-February).
According to the data from the Department of Land Management and Archives (DoLMA), the number of approved land ownership documents stood at 49,287 in Falgun, compared to 49,290 approved documents in the previous month of Magh.
Compared to Falgun of the previous fiscal year 2079/80 BS, there has been an increase of about 8,500 documents. Last year in Falgun, 40,734 land ownership documents were approved.
Real estate sector tops informal transactions in Nepal
Although the number of transactions has remained steady, there has been an increase of around Rs 250 million in revenue. DoLMA data indicates that the revenue collected was Rs 3.71 billion in Magh and it rose to Rs 3.95 billion in Falgun. This represents an increase of Rs 390 million compared to Falgun of the previous year.
This year, compared to Poush (mid-December to mid-January), revenue in Magh increased by Rs 575 million. Magh stands out as the month with the highest number of approved land ownership documents in the current fiscal year.
In Falgun, Inaruwa Land Revenue Office surpassed Janakpur as the office with the highest number of approved documents, with 2,006 land ownership documents approved.
Following Inaruwa, Janakpur approved 1,997 documents, Bhadrapur 1,850, Belbari 1,643, Rajbiraj 1,365, Jaleshwar 1,284, and Malangwa 1,114. Similarly, Siraha approved 1,086 documents, Taulihawa 1,035, and Biratnagar 1,007.
Janakpurdham Land Revenue Office approved 2,092 documents in Magh.
Similarly, in the case of Kathmandu Valley, Bhaktapur Land Revenue Office has approved the most documents. A total of 971 documents were approved in Bhaktapur in Falgun. In Magh too, the highest number of 995 documents were approved from the Bhaktapur Land Revenue Office.
According to DoLMA data, 931 documents were approved from Lagankhel, 707 from Kalanki, 451 from Chabahil, 402 from Sankhu, 211 from Dillibazar and 191 from Tokha land revenue offices in Falgun.
In Magh, the Lagankhel office approved 927, Kalanki 667, Chabahil 447, Sankhu 408, Manamaiju 309, Dillibazar 205 and Tokha office approved 176 documents.
In terms of revenue, Lagankhel Land Revenue Office led in both Falgun and Magh. Lagankhel collected Rs 357.77 million in revenue in Falgun. Chabahil collected Rs 258.2 million, Bhaktapur Rs 254.4 million, Kalanki Rs 242.9 million, and Dillibazar Rs 213.7 million.
Similarly, Chitwan land revenue office collected Rs 161.1 million, Kaski Rs 126.6 million and Inaruwa collected Rs 116.7 million, according to the DoLMA.
In Magh, the Lagankhel Land Revenue Office collected the highest amount of Rs 346.7 million, followed by Bhaktapur Land Revenue Office with Rs 283.3 million, Kalanki with Rs 218.6 million, Dillibazar with Rs 193.9 million, and Chabahil with Rs 180 million.
