Kathmandu. The government has postponed the decision to compulsorily carry out real estate transactions above Rs 30 million in metropolitan cities and sub-metropolis only through licensed companies for the time being.
The Department of Land Management and Archive on Tuesday issued a circular in the name of all the land revenue offices under it, stating that the decision has been put on hold until further notice. The department has also issued directives to carry out the work as per the precedent.
Earlier, the Department had issued a circular on February 8 for the implementation of the new system. There is a provision that a licensed person or institution should operate a land service center and carry out real estate transactions through the land information system. Therefore, the Department has clarified that the order has been put on hold until the licensed individuals and organizations obtain permission to operate the Land Service Center.
Earlier, it was said that this provision would come into effect from March 8.
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