Revenue Collection from Real Estate Transactions Decline to Rs 3.87 Billion Last Month

Despite an overall improvement in real estate transactions across the country, revenue collection declined in Magh (mid-January to mid-February) compared to the previous month.

According to the Department of Land Management and Archive, revenue collection from real estate transactions stood at Rs 3.87 billion in Magh, down from Rs 4.25 billion in the same period last year.

However, data from the first seven months of the current fiscal year shows a modest rise in overall revenue collection. Compared to the same period in the previous fiscal year, revenue collection has increased by nearly 14 percent. By mid-February of the current fiscal year, the department reported a total revenue collection of Rs 24.71 billion, up from Rs 21.65 billion in the corresponding period of the previous fiscal year.

In terms of transaction volume, 46,069 deals were recorded in Magh, slightly lower than the 48,156 deals in the previous month.

Among the nine land revenue offices in the Kathmandu Valley, the Lagankhel Land Reforms and Land Revenue Office collected the highest revenue at Rs 337.4 million.

The Dilli Bazaar Land Revenue Office collected Rs 269.2 million in revenue during Magh. Similarly, the Kalanki Land Revenue Office recorded a collection of Rs 261.1 million.

The Chabahil Land Revenue Office reported revenue of Rs 208 million, while the Bhaktapur Land Revenue Office collected Rs 244.2 million. -- RSS