Real estate transactions across the country have been steadily decreasing, resulting in a decline in revenue collection. According to the Department of Land Management and Archives, revenue generated in the first four months of the current fiscal year has continued to fall.
Despite the government introducing measures to facilitate property transactions, revenue collection has not increased as expected. Just a few days ago, the government amended the Land Use (Third Amendment) Regulation. In the month of Kartik alone, land revenue offices nationwide collected Rs 2.745 billion.
In Ashoj, revenue collection stood at Rs 2.758 billion. Similarly, revenue collected in Bhadra was Rs 3.147 billion. In Shrawan, the Department reported revenue generation of Rs 3.289 billion.
According to the Department, the revenue collected in Kartik included Rs 213.4 million from service charges, Rs 15.062 billion from registration fees, and Rs 997.8 million from capital gains tax.
