Nepal Government Postpones Mandatory Use of Licensed Firms for High-Value Property Transactions
Summary
Nepal's government has suspended the mandatory use of licensed firms for property transactions over NPR 30 million in metropolitan and sub-metropolitan cities due to incomplete technical preparations.
Key Points
- The Nepal government has temporarily suspended the mandatory use of licensed companies for property transactions exceeding NPR 30 million in metropolitan and sub-metropolitan cities.
- The Department of Land Management and Records issued a notice directing the continuation of previous procedures for land transactions.
- 36 licensed companies have not yet received permission to operate Land Service Centers, which are required for the new system.
- The new arrangement will be reinstated only after technical preparations are completed and permissions granted to licensed companies.
