Money

Land plotting standard in offing

- Post Report, KATHMANDU

May 9, 2014-

The government is planning to introduce a standard for land plotting to control and regulate haphazard division of land and make the realty sector more organized.

Speaking at the inauguration of the fourth NLHDA Real Estate Expo in Kathmandu on Thursday, Minister for Urban Development Narayan Khadka revealed the

government’s strategy and highlighted the need to manage the runaway property business.

“The country’s realty sector has started picking up with rapid urbanisation and the growing nuclear family concept, but we should be aware of the fact that it could crash in the future if it isn’t managed properly,” he said.

“So the realty sector should plan to attract buyers of every income bracket.”

Khadka also urged housing developers to create a niche market for people having a low income level.

Similarly, Suresh Prakash Acharya, joint secretary at the ministry, said that it was preparing to introduce a Real Estate Investigation Commission to control wrongdoings in the realty business.

He added that the land and housing industry should be transparent and committed to customer welfare. “We are receiving complaints that some of the developers have not been providing all the facilities they promised to give earlier,” he said.

According to Acharya, the Urban Development Ministry will be implementing National Residency Planning to cater to low-income people. “The ministry is working on facilitating easy financing for home buyers in the low income category and constructing basic needs for development like road expansion, water and sanitation facility,” he said.

Acharya urged developers to help the government achieve the goal of cooperative housing.

“The government has launched the concept of cooperative housing with the aim of providing housing for all, and without the help of housing developers, we cannot achieve the goal,” said Acharya.

 

Published: 09-05-2014 08:48

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