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
