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'title' => 'Credit Crunch hits Real Estate Business ',
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'summary' => 'Real estate business has hit a snag due to the restriction in loan imposed by banks and financial institutions (BFIs) citing credit crunch.',
'content' => '<p>Jule 12: Real estate business has hit a snag due to the restriction in loan imposed by banks and financial institutions (BFIs) citing credit crunch. Construction of housings across the country has seen a slump since the last six months after the BFIs tightened the noose on lending due to lack of investible amount.</p>
<p>Statistics of the last six months maintained by the Department of Land Reform and Management show that the land revenue offices of the Kathmandu valley saw a sharp decline in revenue collection.</p>
<p>Revenue collection in the month of December-January was less by Rs 90 million as compared to the preceding month. Revenue collection dropped further by Rs 70 million in January-February. The downward spiral in revenue collection continued in February-March during which the land revenue offices collected Rs 150 million less than in January-February.</p>
<p>Revenue collection in March-April rose by Rs 40 million as compared to the preceding month. But the very next month, the total revenue collection saw a nosedive with a deficit of Rs 230 million. Revenue collection rose by Rs 110 million in May-June. </p>
<p>The overall graph of revenue collection in the last six months shows a downward curve. The total revenue collected in the first 11 months of the last fiscal year as compared to the first 11 months of the current fiscal year is less by Rs 80 million.</p>
<p>Chief of the Department of Land Reform and Management Sushil Prasad Acharya says that the buying and selling of land has decreased because of the reluctance of BFIs to loan out money.</p>
<p>Collection of registration charge in all four land revenue offices of the valley has decreased as compared to the last FY despite the offices increasing the valuation of land by 20 percent.</p>
<p>BFIs have already invested Rs 293.70 billion in the housing sector in the first 10 months of the current fiscal year. By the end of this fiscal year, the total investment in this sector is set to reach Rs 250.90 billion. The amount also includes Rs 10 million for personal housing loan, according to Nepal Rastra Bank.</p>
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<p>Statistics of the last six months maintained by the Department of Land Reform and Management show that the land revenue offices of the Kathmandu valley saw a sharp decline in revenue collection.</p>
<p>Revenue collection in the month of December-January was less by Rs 90 million as compared to the preceding month. Revenue collection dropped further by Rs 70 million in January-February. The downward spiral in revenue collection continued in February-March during which the land revenue offices collected Rs 150 million less than in January-February.</p>
<p>Revenue collection in March-April rose by Rs 40 million as compared to the preceding month. But the very next month, the total revenue collection saw a nosedive with a deficit of Rs 230 million. Revenue collection rose by Rs 110 million in May-June. </p>
<p>The overall graph of revenue collection in the last six months shows a downward curve. The total revenue collected in the first 11 months of the last fiscal year as compared to the first 11 months of the current fiscal year is less by Rs 80 million.</p>
<p>Chief of the Department of Land Reform and Management Sushil Prasad Acharya says that the buying and selling of land has decreased because of the reluctance of BFIs to loan out money.</p>
<p>Collection of registration charge in all four land revenue offices of the valley has decreased as compared to the last FY despite the offices increasing the valuation of land by 20 percent.</p>
<p>BFIs have already invested Rs 293.70 billion in the housing sector in the first 10 months of the current fiscal year. By the end of this fiscal year, the total investment in this sector is set to reach Rs 250.90 billion. The amount also includes Rs 10 million for personal housing loan, according to Nepal Rastra Bank.</p>
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include - APP/View/Articles/view.ctp, line 115
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
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Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 115]
$user = $this->Session->read('Auth.User');
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<p>Statistics of the last six months maintained by the Department of Land Reform and Management show that the land revenue offices of the Kathmandu valley saw a sharp decline in revenue collection.</p>
<p>Revenue collection in the month of December-January was less by Rs 90 million as compared to the preceding month. Revenue collection dropped further by Rs 70 million in January-February. The downward spiral in revenue collection continued in February-March during which the land revenue offices collected Rs 150 million less than in January-February.</p>
<p>Revenue collection in March-April rose by Rs 40 million as compared to the preceding month. But the very next month, the total revenue collection saw a nosedive with a deficit of Rs 230 million. Revenue collection rose by Rs 110 million in May-June. </p>
<p>The overall graph of revenue collection in the last six months shows a downward curve. The total revenue collected in the first 11 months of the last fiscal year as compared to the first 11 months of the current fiscal year is less by Rs 80 million.</p>
<p>Chief of the Department of Land Reform and Management Sushil Prasad Acharya says that the buying and selling of land has decreased because of the reluctance of BFIs to loan out money.</p>
<p>Collection of registration charge in all four land revenue offices of the valley has decreased as compared to the last FY despite the offices increasing the valuation of land by 20 percent.</p>
<p>BFIs have already invested Rs 293.70 billion in the housing sector in the first 10 months of the current fiscal year. By the end of this fiscal year, the total investment in this sector is set to reach Rs 250.90 billion. The amount also includes Rs 10 million for personal housing loan, according to Nepal Rastra Bank.</p>
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<p>Statistics of the last six months maintained by the Department of Land Reform and Management show that the land revenue offices of the Kathmandu valley saw a sharp decline in revenue collection.</p>
<p>Revenue collection in the month of December-January was less by Rs 90 million as compared to the preceding month. Revenue collection dropped further by Rs 70 million in January-February. The downward spiral in revenue collection continued in February-March during which the land revenue offices collected Rs 150 million less than in January-February.</p>
<p>Revenue collection in March-April rose by Rs 40 million as compared to the preceding month. But the very next month, the total revenue collection saw a nosedive with a deficit of Rs 230 million. Revenue collection rose by Rs 110 million in May-June. </p>
<p>The overall graph of revenue collection in the last six months shows a downward curve. The total revenue collected in the first 11 months of the last fiscal year as compared to the first 11 months of the current fiscal year is less by Rs 80 million.</p>
<p>Chief of the Department of Land Reform and Management Sushil Prasad Acharya says that the buying and selling of land has decreased because of the reluctance of BFIs to loan out money.</p>
<p>Collection of registration charge in all four land revenue offices of the valley has decreased as compared to the last FY despite the offices increasing the valuation of land by 20 percent.</p>
<p>BFIs have already invested Rs 293.70 billion in the housing sector in the first 10 months of the current fiscal year. By the end of this fiscal year, the total investment in this sector is set to reach Rs 250.90 billion. The amount also includes Rs 10 million for personal housing loan, according to Nepal Rastra Bank.</p>
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include - APP/View/Articles/view.ctp, line 115
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
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Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 116]
//find the group of logged user
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<p>Statistics of the last six months maintained by the Department of Land Reform and Management show that the land revenue offices of the Kathmandu valley saw a sharp decline in revenue collection.</p>
<p>Revenue collection in the month of December-January was less by Rs 90 million as compared to the preceding month. Revenue collection dropped further by Rs 70 million in January-February. The downward spiral in revenue collection continued in February-March during which the land revenue offices collected Rs 150 million less than in January-February.</p>
<p>Revenue collection in March-April rose by Rs 40 million as compared to the preceding month. But the very next month, the total revenue collection saw a nosedive with a deficit of Rs 230 million. Revenue collection rose by Rs 110 million in May-June. </p>
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<p>Collection of registration charge in all four land revenue offices of the valley has decreased as compared to the last FY despite the offices increasing the valuation of land by 20 percent.</p>
<p>BFIs have already invested Rs 293.70 billion in the housing sector in the first 10 months of the current fiscal year. By the end of this fiscal year, the total investment in this sector is set to reach Rs 250.90 billion. The amount also includes Rs 10 million for personal housing loan, according to Nepal Rastra Bank.</p>
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<p>Statistics of the last six months maintained by the Department of Land Reform and Management show that the land revenue offices of the Kathmandu valley saw a sharp decline in revenue collection.</p>
<p>Revenue collection in the month of December-January was less by Rs 90 million as compared to the preceding month. Revenue collection dropped further by Rs 70 million in January-February. The downward spiral in revenue collection continued in February-March during which the land revenue offices collected Rs 150 million less than in January-February.</p>
<p>Revenue collection in March-April rose by Rs 40 million as compared to the preceding month. But the very next month, the total revenue collection saw a nosedive with a deficit of Rs 230 million. Revenue collection rose by Rs 110 million in May-June. </p>
<p>The overall graph of revenue collection in the last six months shows a downward curve. The total revenue collected in the first 11 months of the last fiscal year as compared to the first 11 months of the current fiscal year is less by Rs 80 million.</p>
<p>Chief of the Department of Land Reform and Management Sushil Prasad Acharya says that the buying and selling of land has decreased because of the reluctance of BFIs to loan out money.</p>
<p>Collection of registration charge in all four land revenue offices of the valley has decreased as compared to the last FY despite the offices increasing the valuation of land by 20 percent.</p>
<p>BFIs have already invested Rs 293.70 billion in the housing sector in the first 10 months of the current fiscal year. By the end of this fiscal year, the total investment in this sector is set to reach Rs 250.90 billion. The amount also includes Rs 10 million for personal housing loan, according to Nepal Rastra Bank.</p>
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include - APP/View/Articles/view.ctp, line 116
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
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'content' => '<p>Jule 12: Real estate business has hit a snag due to the restriction in loan imposed by banks and financial institutions (BFIs) citing credit crunch. Construction of housings across the country has seen a slump since the last six months after the BFIs tightened the noose on lending due to lack of investible amount.</p>
<p>Statistics of the last six months maintained by the Department of Land Reform and Management show that the land revenue offices of the Kathmandu valley saw a sharp decline in revenue collection.</p>
<p>Revenue collection in the month of December-January was less by Rs 90 million as compared to the preceding month. Revenue collection dropped further by Rs 70 million in January-February. The downward spiral in revenue collection continued in February-March during which the land revenue offices collected Rs 150 million less than in January-February.</p>
<p>Revenue collection in March-April rose by Rs 40 million as compared to the preceding month. But the very next month, the total revenue collection saw a nosedive with a deficit of Rs 230 million. Revenue collection rose by Rs 110 million in May-June. </p>
<p>The overall graph of revenue collection in the last six months shows a downward curve. The total revenue collected in the first 11 months of the last fiscal year as compared to the first 11 months of the current fiscal year is less by Rs 80 million.</p>
<p>Chief of the Department of Land Reform and Management Sushil Prasad Acharya says that the buying and selling of land has decreased because of the reluctance of BFIs to loan out money.</p>
<p>Collection of registration charge in all four land revenue offices of the valley has decreased as compared to the last FY despite the offices increasing the valuation of land by 20 percent.</p>
<p>BFIs have already invested Rs 293.70 billion in the housing sector in the first 10 months of the current fiscal year. By the end of this fiscal year, the total investment in this sector is set to reach Rs 250.90 billion. The amount also includes Rs 10 million for personal housing loan, according to Nepal Rastra Bank.</p>
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<p>Statistics of the last six months maintained by the Department of Land Reform and Management show that the land revenue offices of the Kathmandu valley saw a sharp decline in revenue collection.</p>
<p>Revenue collection in the month of December-January was less by Rs 90 million as compared to the preceding month. Revenue collection dropped further by Rs 70 million in January-February. The downward spiral in revenue collection continued in February-March during which the land revenue offices collected Rs 150 million less than in January-February.</p>
<p>Revenue collection in March-April rose by Rs 40 million as compared to the preceding month. But the very next month, the total revenue collection saw a nosedive with a deficit of Rs 230 million. Revenue collection rose by Rs 110 million in May-June. </p>
<p>The overall graph of revenue collection in the last six months shows a downward curve. The total revenue collected in the first 11 months of the last fiscal year as compared to the first 11 months of the current fiscal year is less by Rs 80 million.</p>
<p>Chief of the Department of Land Reform and Management Sushil Prasad Acharya says that the buying and selling of land has decreased because of the reluctance of BFIs to loan out money.</p>
<p>Collection of registration charge in all four land revenue offices of the valley has decreased as compared to the last FY despite the offices increasing the valuation of land by 20 percent.</p>
<p>BFIs have already invested Rs 293.70 billion in the housing sector in the first 10 months of the current fiscal year. By the end of this fiscal year, the total investment in this sector is set to reach Rs 250.90 billion. The amount also includes Rs 10 million for personal housing loan, according to Nepal Rastra Bank.</p>
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Jule 12: Real estate business has hit a snag due to the restriction in loan imposed by banks and financial institutions (BFIs) citing credit crunch. Construction of housings across the country has seen a slump since the last six months after the BFIs tightened the noose on lending due to lack of investible amount.
Statistics of the last six months maintained by the Department of Land Reform and Management show that the land revenue offices of the Kathmandu valley saw a sharp decline in revenue collection.
Revenue collection in the month of December-January was less by Rs 90 million as compared to the preceding month. Revenue collection dropped further by Rs 70 million in January-February. The downward spiral in revenue collection continued in February-March during which the land revenue offices collected Rs 150 million less than in January-February.
Revenue collection in March-April rose by Rs 40 million as compared to the preceding month. But the very next month, the total revenue collection saw a nosedive with a deficit of Rs 230 million. Revenue collection rose by Rs 110 million in May-June.
The overall graph of revenue collection in the last six months shows a downward curve. The total revenue collected in the first 11 months of the last fiscal year as compared to the first 11 months of the current fiscal year is less by Rs 80 million.
Chief of the Department of Land Reform and Management Sushil Prasad Acharya says that the buying and selling of land has decreased because of the reluctance of BFIs to loan out money.
Collection of registration charge in all four land revenue offices of the valley has decreased as compared to the last FY despite the offices increasing the valuation of land by 20 percent.
BFIs have already invested Rs 293.70 billion in the housing sector in the first 10 months of the current fiscal year. By the end of this fiscal year, the total investment in this sector is set to reach Rs 250.90 billion. The amount also includes Rs 10 million for personal housing loan, according to Nepal Rastra Bank.
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<p>Statistics of the last six months maintained by the Department of Land Reform and Management show that the land revenue offices of the Kathmandu valley saw a sharp decline in revenue collection.</p>
<p>Revenue collection in the month of December-January was less by Rs 90 million as compared to the preceding month. Revenue collection dropped further by Rs 70 million in January-February. The downward spiral in revenue collection continued in February-March during which the land revenue offices collected Rs 150 million less than in January-February.</p>
<p>Revenue collection in March-April rose by Rs 40 million as compared to the preceding month. But the very next month, the total revenue collection saw a nosedive with a deficit of Rs 230 million. Revenue collection rose by Rs 110 million in May-June. </p>
<p>The overall graph of revenue collection in the last six months shows a downward curve. The total revenue collected in the first 11 months of the last fiscal year as compared to the first 11 months of the current fiscal year is less by Rs 80 million.</p>
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<p>Collection of registration charge in all four land revenue offices of the valley has decreased as compared to the last FY despite the offices increasing the valuation of land by 20 percent.</p>
<p>BFIs have already invested Rs 293.70 billion in the housing sector in the first 10 months of the current fiscal year. By the end of this fiscal year, the total investment in this sector is set to reach Rs 250.90 billion. The amount also includes Rs 10 million for personal housing loan, according to Nepal Rastra Bank.</p>
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<p>Statistics of the last six months maintained by the Department of Land Reform and Management show that the land revenue offices of the Kathmandu valley saw a sharp decline in revenue collection.</p>
<p>Revenue collection in the month of December-January was less by Rs 90 million as compared to the preceding month. Revenue collection dropped further by Rs 70 million in January-February. The downward spiral in revenue collection continued in February-March during which the land revenue offices collected Rs 150 million less than in January-February.</p>
<p>Revenue collection in March-April rose by Rs 40 million as compared to the preceding month. But the very next month, the total revenue collection saw a nosedive with a deficit of Rs 230 million. Revenue collection rose by Rs 110 million in May-June. </p>
<p>The overall graph of revenue collection in the last six months shows a downward curve. The total revenue collected in the first 11 months of the last fiscal year as compared to the first 11 months of the current fiscal year is less by Rs 80 million.</p>
<p>Chief of the Department of Land Reform and Management Sushil Prasad Acharya says that the buying and selling of land has decreased because of the reluctance of BFIs to loan out money.</p>
<p>Collection of registration charge in all four land revenue offices of the valley has decreased as compared to the last FY despite the offices increasing the valuation of land by 20 percent.</p>
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Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]
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<p>Statistics of the last six months maintained by the Department of Land Reform and Management show that the land revenue offices of the Kathmandu valley saw a sharp decline in revenue collection.</p>
<p>Revenue collection in the month of December-January was less by Rs 90 million as compared to the preceding month. Revenue collection dropped further by Rs 70 million in January-February. The downward spiral in revenue collection continued in February-March during which the land revenue offices collected Rs 150 million less than in January-February.</p>
<p>Revenue collection in March-April rose by Rs 40 million as compared to the preceding month. But the very next month, the total revenue collection saw a nosedive with a deficit of Rs 230 million. Revenue collection rose by Rs 110 million in May-June. </p>
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<p>Collection of registration charge in all four land revenue offices of the valley has decreased as compared to the last FY despite the offices increasing the valuation of land by 20 percent.</p>
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<p>Statistics of the last six months maintained by the Department of Land Reform and Management show that the land revenue offices of the Kathmandu valley saw a sharp decline in revenue collection.</p>
<p>Revenue collection in the month of December-January was less by Rs 90 million as compared to the preceding month. Revenue collection dropped further by Rs 70 million in January-February. The downward spiral in revenue collection continued in February-March during which the land revenue offices collected Rs 150 million less than in January-February.</p>
<p>Revenue collection in March-April rose by Rs 40 million as compared to the preceding month. But the very next month, the total revenue collection saw a nosedive with a deficit of Rs 230 million. Revenue collection rose by Rs 110 million in May-June. </p>
<p>The overall graph of revenue collection in the last six months shows a downward curve. The total revenue collected in the first 11 months of the last fiscal year as compared to the first 11 months of the current fiscal year is less by Rs 80 million.</p>
<p>Chief of the Department of Land Reform and Management Sushil Prasad Acharya says that the buying and selling of land has decreased because of the reluctance of BFIs to loan out money.</p>
<p>Collection of registration charge in all four land revenue offices of the valley has decreased as compared to the last FY despite the offices increasing the valuation of land by 20 percent.</p>
<p>BFIs have already invested Rs 293.70 billion in the housing sector in the first 10 months of the current fiscal year. By the end of this fiscal year, the total investment in this sector is set to reach Rs 250.90 billion. The amount also includes Rs 10 million for personal housing loan, according to Nepal Rastra Bank.</p>
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simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 60
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
file not found!
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]
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'Article' => array(
'id' => '6198',
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'title' => 'Credit Crunch hits Real Estate Business ',
'sub_title' => '',
'summary' => 'Real estate business has hit a snag due to the restriction in loan imposed by banks and financial institutions (BFIs) citing credit crunch.',
'content' => '<p>Jule 12: Real estate business has hit a snag due to the restriction in loan imposed by banks and financial institutions (BFIs) citing credit crunch. Construction of housings across the country has seen a slump since the last six months after the BFIs tightened the noose on lending due to lack of investible amount.</p>
<p>Statistics of the last six months maintained by the Department of Land Reform and Management show that the land revenue offices of the Kathmandu valley saw a sharp decline in revenue collection.</p>
<p>Revenue collection in the month of December-January was less by Rs 90 million as compared to the preceding month. Revenue collection dropped further by Rs 70 million in January-February. The downward spiral in revenue collection continued in February-March during which the land revenue offices collected Rs 150 million less than in January-February.</p>
<p>Revenue collection in March-April rose by Rs 40 million as compared to the preceding month. But the very next month, the total revenue collection saw a nosedive with a deficit of Rs 230 million. Revenue collection rose by Rs 110 million in May-June. </p>
<p>The overall graph of revenue collection in the last six months shows a downward curve. The total revenue collected in the first 11 months of the last fiscal year as compared to the first 11 months of the current fiscal year is less by Rs 80 million.</p>
<p>Chief of the Department of Land Reform and Management Sushil Prasad Acharya says that the buying and selling of land has decreased because of the reluctance of BFIs to loan out money.</p>
<p>Collection of registration charge in all four land revenue offices of the valley has decreased as compared to the last FY despite the offices increasing the valuation of land by 20 percent.</p>
<p>BFIs have already invested Rs 293.70 billion in the housing sector in the first 10 months of the current fiscal year. By the end of this fiscal year, the total investment in this sector is set to reach Rs 250.90 billion. The amount also includes Rs 10 million for personal housing loan, according to Nepal Rastra Bank.</p>
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'content' => '<p>Jule 12: Real estate business has hit a snag due to the restriction in loan imposed by banks and financial institutions (BFIs) citing credit crunch. Construction of housings across the country has seen a slump since the last six months after the BFIs tightened the noose on lending due to lack of investible amount.</p>
<p>Statistics of the last six months maintained by the Department of Land Reform and Management show that the land revenue offices of the Kathmandu valley saw a sharp decline in revenue collection.</p>
<p>Revenue collection in the month of December-January was less by Rs 90 million as compared to the preceding month. Revenue collection dropped further by Rs 70 million in January-February. The downward spiral in revenue collection continued in February-March during which the land revenue offices collected Rs 150 million less than in January-February.</p>
<p>Revenue collection in March-April rose by Rs 40 million as compared to the preceding month. But the very next month, the total revenue collection saw a nosedive with a deficit of Rs 230 million. Revenue collection rose by Rs 110 million in May-June. </p>
<p>The overall graph of revenue collection in the last six months shows a downward curve. The total revenue collected in the first 11 months of the last fiscal year as compared to the first 11 months of the current fiscal year is less by Rs 80 million.</p>
<p>Chief of the Department of Land Reform and Management Sushil Prasad Acharya says that the buying and selling of land has decreased because of the reluctance of BFIs to loan out money.</p>
<p>Collection of registration charge in all four land revenue offices of the valley has decreased as compared to the last FY despite the offices increasing the valuation of land by 20 percent.</p>
<p>BFIs have already invested Rs 293.70 billion in the housing sector in the first 10 months of the current fiscal year. By the end of this fiscal year, the total investment in this sector is set to reach Rs 250.90 billion. The amount also includes Rs 10 million for personal housing loan, according to Nepal Rastra Bank.</p>
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include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]
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'title' => 'Credit Crunch hits Real Estate Business ',
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'content' => '<p>Jule 12: Real estate business has hit a snag due to the restriction in loan imposed by banks and financial institutions (BFIs) citing credit crunch. Construction of housings across the country has seen a slump since the last six months after the BFIs tightened the noose on lending due to lack of investible amount.</p>
<p>Statistics of the last six months maintained by the Department of Land Reform and Management show that the land revenue offices of the Kathmandu valley saw a sharp decline in revenue collection.</p>
<p>Revenue collection in the month of December-January was less by Rs 90 million as compared to the preceding month. Revenue collection dropped further by Rs 70 million in January-February. The downward spiral in revenue collection continued in February-March during which the land revenue offices collected Rs 150 million less than in January-February.</p>
<p>Revenue collection in March-April rose by Rs 40 million as compared to the preceding month. But the very next month, the total revenue collection saw a nosedive with a deficit of Rs 230 million. Revenue collection rose by Rs 110 million in May-June. </p>
<p>The overall graph of revenue collection in the last six months shows a downward curve. The total revenue collected in the first 11 months of the last fiscal year as compared to the first 11 months of the current fiscal year is less by Rs 80 million.</p>
<p>Chief of the Department of Land Reform and Management Sushil Prasad Acharya says that the buying and selling of land has decreased because of the reluctance of BFIs to loan out money.</p>
<p>Collection of registration charge in all four land revenue offices of the valley has decreased as compared to the last FY despite the offices increasing the valuation of land by 20 percent.</p>
<p>BFIs have already invested Rs 293.70 billion in the housing sector in the first 10 months of the current fiscal year. By the end of this fiscal year, the total investment in this sector is set to reach Rs 250.90 billion. The amount also includes Rs 10 million for personal housing loan, according to Nepal Rastra Bank.</p>
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<p>Statistics of the last six months maintained by the Department of Land Reform and Management show that the land revenue offices of the Kathmandu valley saw a sharp decline in revenue collection.</p>
<p>Revenue collection in the month of December-January was less by Rs 90 million as compared to the preceding month. Revenue collection dropped further by Rs 70 million in January-February. The downward spiral in revenue collection continued in February-March during which the land revenue offices collected Rs 150 million less than in January-February.</p>
<p>Revenue collection in March-April rose by Rs 40 million as compared to the preceding month. But the very next month, the total revenue collection saw a nosedive with a deficit of Rs 230 million. Revenue collection rose by Rs 110 million in May-June. </p>
<p>The overall graph of revenue collection in the last six months shows a downward curve. The total revenue collected in the first 11 months of the last fiscal year as compared to the first 11 months of the current fiscal year is less by Rs 80 million.</p>
<p>Chief of the Department of Land Reform and Management Sushil Prasad Acharya says that the buying and selling of land has decreased because of the reluctance of BFIs to loan out money.</p>
<p>Collection of registration charge in all four land revenue offices of the valley has decreased as compared to the last FY despite the offices increasing the valuation of land by 20 percent.</p>
<p>BFIs have already invested Rs 293.70 billion in the housing sector in the first 10 months of the current fiscal year. By the end of this fiscal year, the total investment in this sector is set to reach Rs 250.90 billion. The amount also includes Rs 10 million for personal housing loan, according to Nepal Rastra Bank.</p>
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simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
