Extension of application deadline for companies dealing in real estate

Kathmandu. The Department of Land Management and Records has extended the deadline for applications for firms, companies or organizations that want to get a license to deal with real estate. The department has extended the deadline so that the application can be submitted till 27th of November. Earlier, the department published a notice on October 13 and made a public call for applications. According to the provisions of the Property Act, 2034, which requires a license to conduct real estate transactions, the government published a notice in the gazette and specified the area of operation for companies dealing in real estate. In the first phase, the department had defined the metropolitan and sub-metropolitan cities as the working area.

An arrangement was made that interested firms, companies or organizations that have a turnover of more than three crore rupees at a time can apply. It is said that the business is going to be organized with the aim of making the real estate business transparent, dignified and scientific.

The department said that the application deadline has been extended with effect from last Friday. In the first phase, the department has advanced the process of company registration with the aim of organizing real estate transactions in six metropolitan cities and 11 sub-metropolitan cities. According to the notification published earlier, due to the low number of applications, the deadline has been extended.

Express

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