Deadline Extended to December 12 for Firms Seeking Real Estate Transaction License

The Department of Land Management and Archive has extended the deadline for firms, companies, and institutions that wish to obtain a license for conducting real estate transactions. Applications can now be submitted until Mangsir 27 (December 12). Earlier, the department had issued a public notice on Asoj 13 inviting applications for the same, but fewer applications were received than expected.

First Phase Covers Metropolitans and Sub-Metropolitans

As per the provisions of the Land Revenue Act, 2034, the government has mandated that any company wishing to engage in real estate business must obtain an official license. In line with this, the department has defined the working areas for licensed firms in the first phase, covering:

• 6 Metropolitan Cities

• 11 Sub-Metropolitan Cities

These areas will serve as the initial operational zones where real estate business will be regulated and standardized.

Only Firms Handling Transactions Above Rs. 3 Crore Eligible

The department has allowed applications only from firms or institutions that intend to conduct real estate transactions of more than Rs. 3 crore at a time.

The objective behind this policy is to make Nepal’s real estate market transparent, disciplined, and scientifically managed, ensuring responsible practices among large-scale players.

Deadline Extended Due to Low Application Numbers

The department stated that the deadline was extended effective from last Friday after receiving fewer applications than anticipated in the first call.
The government is currently moving forward with the company registration process in the selected metropolitan and sub-metropolitan cities, aiming to streamline and regulate large-scale real estate activities in the country.

Rs. 2.74 Billion Revenue Collected in a Single Month

According to the department's data, real estate transactions in Kartik generated significant revenue:

• Real Estate Transaction Revenue: Rs. 2,74,51,72,199

• Service Tax: Rs. 21,34,47,413

• Registration Fee: Rs. 1,50,62,96,014

• Capital Gains Tax: Rs. 99,78,44,392

The department notes that rising revenue collection indicates that Nepal’s real estate market has started gaining momentum again after a period of slowdown.