KATHMANDU, Jan 19: The real estate transaction has shown considerable improvement across the country. The turnover, which has been languishing for a long time, has now increased.
According to the Department of Land Management and Archive (DoLMA), 48,156 real estate transactions were carried out in the month of Poush (mid-December to mid-January) of the current fiscal year 2024/25, reflecting a 6.36 percent increase compared to the previous month.
Along with the turnover across the country, the buying and selling of real estate in Kathmandu has also enjoyed an increase. After enduring a period of stagnation, turnover has started to rise in Kathmandu as well. Currently, real estate transactions in Kathmandu are being processed through six land revenue offices.
In the month of Poush, 2,110 documents of land ownership have been approved through six offices in Kathmandu, which is 19.68 percent more than that of the same period last year during which 1,763 houses were bought and sold in Kathmandu.
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Due to the economic slowdown, the overall turnover had languished. Similarly, the buying and selling of expensive properties had significantly decreased. However, at present, there has been a gradual increase. The most expensive real estate transactions in Nepal have been taking place in Kathmandu.
According to the DoLMA, last year no land ownership was approved through the land revenue office in Sankhu during the month of Poush. However, in the same month this year, 449 documents of land ownership have been approved.
Similarly, the Tokha area has also seen a 30.65 percent increase. In the previous year’s month of Poush, there were only 137 transactions, but in the same month this year, the number has increased to 179.
According to the DoLMA, there has also been an increase of 24.22 percent in the price of the real estate in Dillibazar area of Kathmandu, which is considered the most expensive. In a single month, 200 documents of land ownership were approved in this area, while only 161 documents had been approved in the same month last year.
In Kathmandu, significant transactions are taking place in the Chabahil and Kalanki areas. In the month of Poush last year, 594 documents of land ownership were approved in the Kalanki area. However, this is a decrease of 8.61 percent compared to the previous year. On the other hand, transactions in the Manamaiju area have dropped by 30.65 percent, with only 258 documents approved. Last year 407 real estate were bought and sold.
Similarly, the Chabahil area has enjoyed growth with a 5.39 percent increase in real estate transactions. Last year, during the same month of Poush, only 408 documents of land ownership were approved in Chabahil. However, this year 430 documents of land ownership were approved in the same period.
Along with the turnover in Kathmandu, the revenue has also increased by 20 percent compared to last year. During the review month, Rs 882.2 million in revenue was collected through six land revenue offices in Kathmandu, marking an increase of 20.23 percent compared to the month of last year. In the same month last year, Rs 733.61 in revenue was collected.
In Kathmandu, the highest revenue collection was collected from the land revenue office in Chabahil, collecting to Rs 229.38 million which is an increase of 9.28 percent compared to the same period last year.
Similarly, revenue collection from Kalanki stood at Rs 219.37 million, and from Dillibazar, it was Rs 219.09 million. According to the DoLMA, the revenue collected from Dillibazar has increased by 50.11 percent, while Kalanki savored a 15 percent growth.
Additionally, the revenue collected from the Manamaiju area increased by 23.58 percent, reaching Rs 103.26 million. During the review month, revenue collection from Sankhu was Rs 66.83 million, and Rs 44.12 million from Tokha.
