Greenhill City offers standalone houses for Rs 50 lakh, land for just Rs 18 lakh

Targeting the festive season, Greenhill City Private Limited has offered 10 percent discount on the purchase of standalone houses and plots of land at Greenhill City at Jorpati-Mulpani.

Greenhill City, which is being developed by the company that had successfully launched Rose Valley at Balkot, is spread across 320 ropanis of land, merely 5 minutes away from Boudha.

Victims demand auction of properties of Oriental Builders at market price

The depositors of Oriental Cooperative have demanded auction of the properties of the cooperative at prevailing market price, alleging that NIC Asia Bank was trying to auction the properties in an “unjust” manner.

The depositors of the cooperative in crisis claim that the bank is trying to auction the properties of Oriental Builders, a subsidiary of the cooperatives, so as just to recover its loan.

Dashain Tihar Festival offers by real estate developers, from 10 tolas of gold to 0% interest

With the Dashain festival only a few weeks away, real estate developers are offering numerous schemes — ranging from 10 tolas of gold to zero per cent interest on purchase of apartments — to attract genuine buyers.

CE Construction has introduced zero per cent interest offer on its ready-to-move-in apartments at Grande Towers, Tokha. “With the initial instalment of Rs one million, buyers can shift into the apartments. And the remaining amount can be paid within five years on a monthly instalment basis without any interest,” informs Babu Krishna Thapa, sales manager of CD Developers, a sister company of CE. The price of apartments range from Rs 4.5 million to Rs 13.6 million for one- to four-bedroom apartments.

Housing & apartment developers woo buyers with Dashain & Tihar festive offers

Housing developers have announced special offers on purchase of apartments, individual homes and spaces at commercial complexes in a bid to woo customers during the festive season.

Developers like CE Construction, Bajra Shangrila Residency and CTC Mall have launched special offers, while Downtown Housing and Greenhill City are working out their festive offers. Similarly, Shangrila Housing is relaunching its apartments eyeing festive buyers.

Janata Residency at Bhainsepati opens apartment booking

Kanchanjunga Housing has opened booking for apartments at its Bhainsepati-based project -- Janata Residency.
The company has opened bookings for 190 apartments located in 10 buildings spread over 12 ropanis.

Real estate recovering in major migration hubs

In a sign of gradual improvement in real estate, collection of revenue from the registration of land in major migration hubs outside the capital has jumped by 43 percent during the first month of the current fiscal year compared to the same period last fiscal year.

25-40 percent off registration fee for jointly registered property

The government has decided to give a 25-40 percent discount on the registration fee for property jointly registered in the names of the husband and wife after it is purchased.
This is the same exemption that is provided to women when property is registered in their name. The ordinance says that the same treatment will be given regarding the registration fee when property is registered under joint ownership of the husband and wife.

Real estate sector gradually comes back to life

The real estate market, that remained moribund for the last three years, is gradually creeping back to life, but transactions are yet to reach the peak of 2008-09. In the last fiscal year ended July 15, various land revenue offices in the country collected Rs 5.36 billion in registration fees, up from Rs 4.80 billion recorded in the previous fiscal year.

Nepal Rastra Bank (NRB) to uphold interest corridor concept for deposits & lending.

Nepal Rastra Bank (NRB) Governor Dr Yuba Raj Khatiwada underlined the significance of Interest Rate Corridor -- a system that sets up a certain framework to determine the bank interest rates for both deposits and lending.

At a time when interest rates have been fluctuating, Khatiwada expressed commitment to effectively implement the Interest Rate Corridor to bring volatile interest rates back on track.

Finance Minister Koirala suggests to bring cheap housing projects.

Minister for Finance, Shanker Prasad Koirala urged the Employees Provident Fund (EPF) to bring the cheaper project to manage residence to the employees ensuring that the government would manage the land for the project.

Addressing the employees after the Central Office of the EPF, Minister Koirala said, the organization that have commercial thought of broad plan of making depositors rich for it is connected to the future of 470,000 Civil Servants.

Land and housing prices won't improve until 2015: Report

Land and housing prices, which are on a downtrend for the past four years, will not improve for at least another two years, a government study shows.

The study, which was commissioned by the privatization unit under the Ministry of Finance to prepare Business Confidence Index, has revealed that realty market will not improve at least until 2015.

Though the team led by Basudev Sharma, under secretary at the unit, found some improvements in business confidence of realty entrepreneurs, the confidence level of real estate and housing sector has remained at the lower end.The study, the first of its kind in Nepal, was based on the universally accepted OECD model.