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Home Prime News

Real Estate Revenue Sees Significant Growth in Mangsir

CEO Tab by CEO Tab
December 19, 2024
in Prime News
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Real Estate Transactions Surge in Kartik, But Revenue Declines Amid Shift to Rural Properties
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Revenue from real estate transactions surged significantly in Mangsir (mid-November to mid-December) compared to the previous month of Kartik (mid-October to mid-November). In Kartik, real estate transactions generated Rs 2.70 billion in revenue, while in Mangsir, the figure rose to Rs 3.87 billion.

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According to the Department of Land Management and Archive (DoLMA), a total of 43,379 real estate transactions were recorded across Nepal in Mangsir, up from 33,514 transactions in Kartik. The DoLMA further reported that the Land Revenue Office in Lagankhel alone collected Rs 339.5 million in revenue.

In the Kathmandu Valley, which houses nine Land Revenue Offices, notable contributions included Rs 265.73 million collected by the Kalanki office, Rs 225.82 million by the Chabahil office, Rs 75.02 million by the Sankhu office, Rs 72.63 million by the Manmaiju office, and Rs 71.25 million by the Tokha office. Outside the valley, significant collections were made by the Land Revenue Office in Biratnagar with Rs 104.91 million and the office in Chitwan with Rs 359.83 million.

Breaking down the revenue components for Mangsir, Rs 266.25 million came from service fees, Rs 2.64 billion was generated from registration fees, and Rs 1.32 billion was collected as capital gains tax. These figures underscore the robust growth in real estate activities during this period.

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