Kathmandu. Real estate transactions across the country have continued to drop. As deals shrink, revenue collection has also slipped. Data from the Department of Land Management and Archives indicate that revenue collection in the first four months of the current fiscal year has declined steadily.

The government has attempted to ease property transactions, but revenue growth has not occurred as expected. Only a few days ago, the government amended the Land Use Regulation, the third amendment. In Kartik, land revenue offices across the country collected a total of Rs 2.745 billion.

In Asoj, revenue collection stood at Rs 2.758 billion. In Bhadra, it was Rs 3.1407 billion. The department reported that in Shrawan, revenue collection had reached Rs 3.2891 billion.

According to the department, in Kartik alone, service fees amounted to Rs 213.4 million, registration fees reached Rs 1.5062 billion, and capital gains tax collection stood at Rs 997.8 million.

People's News Monitoring Service