KATHMANDU, May 20: Revenue collection from land and property transactions increased in the last Nepali month- Baisakh (mid-April to mid-May) - compared to the previous month Chaitra, indicating gradual improvement in the country's real estate market.
According to the Department of Land Management and Archive (DoLMA) at Babar Mahal, Kathmandu, the government collected more than Rs 6.26 billion in revenue from real estate transactions across the country during the review month.
The amount is slightly higher than the Rs 6.16 billion collected in the Nepali month of Chaitra (mid-March to mid-April).
Real estate business marginally increases, Govt raises Rs 3 bil...
Of the total Rs 6.26 billion collected in Baisakh, Rs 3.31 billion came from registration fees, Rs 2.55 billion from capital gains tax and Rs 344 million from service tax, according to the Department's statistics.
Similarly, Rs 44.8 million was amassed from the Chief Minister Hygiene Fund.
The DoLMA stated that revenue collection in the previous Fagun month (mid-February to mid-March) stood over Rs 4.14 billion, compared to more than Rs 5.99 billion in the Magh month (mid-January to mid-February), showing signs of improvement in the real estate sector after fluctuations in recent months.
