Major highlights of budget (Real Estate) for fiscal year 2079/80 Nepal ( 2022/ 23)

The government has presented an annual budget of Rs 1.793 trillion for the fiscal year 2079/80.  Presenting the budget for FY 2079/80, Finance Minister Janardan Sharma said that the main objectives of the budget include inclusive development, inflation control, providing adequate resources to sub-national governments and a self-reliant economy.


Some of the major highlights (Real Estate, Housing, Land) are listed below:
> A total of Rs 7.4 billion allocated for the Ministry of Land Management, Cooperatives and Poverty Alleviation
> Only registered companies to be allowed to operate the real estate business, to begin with, in metropolitan and sub-metropolitan cities this year
> Foreign nationals to be allowed to buy apartments in Nepal. According to Sharma, if an apartment has 100 units, it can sell a maximum of 20 units to foreign nationals.
> Rs 7.04 billion for the Ministry of Land Management, Cooperatives and Poverty Alleviation in total
> Land to be leased for 50 years to establish export-oriented industries
> Provision for leasing land for 50 years to operate industries in the country
> 300,000 landless families to be provided with land ownership certificates




Followers