Nepal, Sept. 26 -- The government has made it mandatory to obtain a license for real estate transactions exceeding Rs 30 million in a single deal within all metropolitan and sub-metropolitan cities.

The decision was endorsed by the Cabinet meeting on Thursday (September 25) following a proposal from the Ministry of Land Management, Cooperatives, and Poverty Alleviation. The rule will come into effect after its publication in the Nepal Gazette.

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Currently, Nepal has six metropolitan cities-Kathmandu, Lalitpur, Biratnagar, Bharatpur, Birgunj, and Pokhara-and 11 sub-metropolitan cities, including Dharan, Itahari, Janakpur, Hetauda, Kalaiya, Jitpur...