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Real Estate Business to Run From Licensed Companies Only
1 min 17 sec to read
May 30: The real estate business is set to run from licensed companies only. According to the budget statement presented in the federal parliament by Finance Minister Yuba Raj Khatiwada on Tuesday, May 29, the government is all set to implement laws to this effect.
The government is preparing to introduce laws for the management of real estate business. People without registering any firm have been taking commission as per their wish in the real estate business. Former chief of Land Revenue Office, Dillibazar, Padmanidhi Soti said that the abiding by the rule of doing transactions from licensed companies only will assure consistency in fixed commission rate in the business. “In addition, it will also increase the revenue of the government,” he added.
Ashish Garg, coordinator of Housing Development Unit under Nepal Land and Housing Developers’ Association (NLHDA), said that though the announcement of government to run the business through licensed companies is good, the government is doing so without any pre-plan. “This will create fear among entrepreneurs and result in reduced transaction,” he added.
The government has not categorised sectors with mercantile and housing purpose. He said that it will take time to prepare the infrastructure and procedure and to decide companies with what type of proficiency will be handed over the license. “The government has started a project that should be implemented after a year so the rule should not be made compulsory,” Garg told New Business Age.
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'content' => '<p>May 30: The real estate business is set to run from licensed companies only. According to the budget statement presented in the federal parliament by Finance Minister Yuba Raj Khatiwada on Tuesday, May 29, the government is all set to implement laws to this effect.</p>
<p>The government is preparing to introduce laws for the management of real estate business. People without registering any firm have been taking commission as per their wish in the real estate business. Former chief of Land Revenue Office, Dillibazar, Padmanidhi Soti said that the abiding by the rule of doing transactions from licensed companies only will assure consistency in fixed commission rate in the business. “In addition, it will also increase the revenue of the government,” he added.</p>
<p>Ashish Garg, coordinator of Housing Development Unit under Nepal Land and Housing Developers’ Association (NLHDA), said that though the announcement of government to run the business through licensed companies is good, the government is doing so without any pre-plan. “This will create fear among entrepreneurs and result in reduced transaction,” he added.</p>
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'title' => 'Real Estate Business to Run From Licensed Companies Only',
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'summary' => 'May 30: The real estate business is set to run from licensed companies only. ',
'content' => '<p>May 30: The real estate business is set to run from licensed companies only. According to the budget statement presented in the federal parliament by Finance Minister Yuba Raj Khatiwada on Tuesday, May 29, the government is all set to implement laws to this effect.</p>
<p>The government is preparing to introduce laws for the management of real estate business. People without registering any firm have been taking commission as per their wish in the real estate business. Former chief of Land Revenue Office, Dillibazar, Padmanidhi Soti said that the abiding by the rule of doing transactions from licensed companies only will assure consistency in fixed commission rate in the business. “In addition, it will also increase the revenue of the government,” he added.</p>
<p>Ashish Garg, coordinator of Housing Development Unit under Nepal Land and Housing Developers’ Association (NLHDA), said that though the announcement of government to run the business through licensed companies is good, the government is doing so without any pre-plan. “This will create fear among entrepreneurs and result in reduced transaction,” he added.</p>
<p>The government has not categorised sectors with mercantile and housing purpose. He said that it will take time to prepare the infrastructure and procedure and to decide companies with what type of proficiency will be handed over the license. “The government has started a project that should be implemented after a year so the rule should not be made compulsory,” Garg told New Business Age. </p>
<p> </p>
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