Real Estate Revenue Declines in Magh Despite Increased Transactions

Revenue collection from real estate transactions in Nepal declined in the month of Magh (mid-January to mid-February) compared to Poush (mid-December to mid-January), despite an overall rise in property dealings across the country, according to the Department of Land Management and Archive (DoLMA).

In Magh, real estate transactions generated Rs 3.87 billion in revenue, down from Rs 4.25 billion in Poush. However, this figure remained consistent with revenue collected in Mangsir (mid-November to mid-December), which also stood at Rs 3.87 billion.

Data from the first seven months of the current fiscal year indicate a nearly 14% increase in total revenue collection compared to the same period in the previous fiscal year. By mid-February, the total real estate revenue had reached Rs 24.71 billion, up from Rs 21.65 billion in the corresponding period last year.

In Magh, authorities approved 46,050 land transaction documents, slightly lower than the 48,156 approvals recorded in Poush.

Among the nine land revenue offices in the Kathmandu Valley, the Land Reform and Revenue Office in Lagankhel collected the highest revenue, amounting to Rs 337.4 million. This was followed by the Dillibazar Land Revenue Office with Rs 269.2 million, the Kalanki Land Revenue Office with Rs 260.1 million, the Bhaktapur Land Revenue Office with Rs 244.2 million, and the Chabahil Land Revenue Office with Rs 208 million, according to DoLMA.

Despite the monthly decline, authorities remain optimistic about the overall upward trend in revenue collection, citing increased activity in the real estate sector.