Permission required for real estate transactions over Rs 30 million through companies in metropolis

KATHMANDU: The government has introduced a new regulation requiring companies to obtain official permission for real estate transactions exceeding Rs 30 million within designated metropolitan and sub-metropolitan cities.

According to a notice published in the Nepal Gazette by the Ministry of Land Management, Cooperatives and Poverty Alleviation, the provision has been enforced under Section 26 (a) and (b) of the Land Revenue Act, 2034. The rule applies irrespective of the company’s registration location or the land area involved in the transaction.

The regulation currently applies to six metropolitan cities—Kathmandu, Lalitpur, Biratnagar, Birgunj, Bharatpur, and Pokhara—and 11 sub-metropolitan cities, including Dharan, Itahari, Janakpurdham, Jitpursimara, Kalaiya, Hetauda, Butwal, Ghorahi, Tulsipur, Nepalgunj, and Dhangadhi.

Permission will be mandatory for any transaction exceeding Rs 30 million within these urban areas, regardless of the land size. The Director General of the Department of Land Management and Records has been designated as the responsible authority for granting such permissions.

In a related development, the Ministry also announced the revocation of the Land Problem Resolution Commission Formation Order, 2081. Consequently, the Commission established under that order, along with all related district-level committees, has been dissolved.

Secretary of the Ministry, Kedarnath Sharma, confirmed that the notice regarding these changes have been published in the Gazette.