Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: Real estate transactions in Nepal saw a notable increase during the month of Shrawan (mid-July to mid-August) this year, compared to the same period last Fiscal Year (FY). According to the latest data, 43,835 units of property transfers were approved in Shrawan, surpassing the 39,263 units approved during the same period last year.
Despite a slight decrease in activity compared to the previous month of Ashar, the land revenue offices across the country managed to deliver 127,000 real estate-related services in the first month of the current FY. This represents a modest uptick in activity compared to the same period in the last FY.
Significant real estate transaction turnover was observed in the Jhapa, Morang, and Saptari districts, which contributed to the overall increase. The revenue collected from these transactions amounted to Rs 3.83 billion between mid-July and mid-August. Additionally, Rs 2.55 billion was collected through registration fees.
The Department of Land Management and Archive reported that service tax collection stood at Rs 260 million, while capital gains tax brought in Rs 1.34 billion during the review period.
In comparison, the revenue collected during the same month last year was Rs 2.91 billion, indicating a strong performance in the current FY.
This growth in real estate transactions reflects a resilient market, showing positive signs for the fiscal year ahead.
Your email address will not be published. Required fields are marked *
Comment *
Name *
Email *
Website
Save my name, email, and website in this browser for the next time I comment.
