Kathmandu, Feb 16: Despite signs of improvement in real estate transactions across the country, revenue collection in Magh (mid-January to mid-February) has declined compared to the month of Poush (mid-December to mid-January).
According to the Department of Land Management and Records, revenue collection in Magh stood at Rs 3.87 billion, a drop from Rs 4.25 billion collected in Poush. However, it remained close to Mangsir’s (mid-November to mid-December) collection of Rs 3.87 billion.
Despite the recent dip, overall revenue collection for the first seven months of the current fiscal year has seen a 14% increase compared to the same period last year. According to the Department, it has collected Rs. 24.71 billion in the seven months of the current fiscal year 2081/82 BS while previous fiscal year it managed to collect Rs. 21.65 billion.
In Magh, a total of 46,050 land-related documents were approved, slightly lower than 48,156 documents approved in Poush.
Among the nine land revenue offices in the Kathmandu Valley, Lalitpur (Lagankhel) office collected the highest revenue, amounting to Rs 337.4 million. Other major collections include Dillibazar Office (Rs 269.2 million), Kalanki Office (Rs 260.1 million), Chabahil Office (Rs 208 million) and Bhaktapur Office (Rs 244.2 million).
The decline in Magh suggests a temporary slowdown in real estate transactions, but the overall trend remains positive with year-on-year revenue growth. #nepal #revenue #land #realestate
