Nepal, Oct. 15 -- In a bid to tighten the noose against rampant property transactions, the government has made it mandatory to obtain permission for real estate transactions worth more than Rs 30 million through a company.

The Ministry of Land Management, Cooperatives and Poverty Alleviation through publishing in the Nepal Gazette for the purposes of Section 26 (a and b) of the Land Revenue Act 1976, on Monday, has come up with the new policy. As per the law, six metropolitan cities and 11 sub-metropolitan cities have been included under this provision for real estate transactions.

Related story N-REO launches multi-listing system targeting agents to manage... Default image

The authority's permission will now be required for real esta...