Do not view real estate just from business angle, FinMIn asks stakeholders

KATHMANDU, DECEMBER 13: Finance Minister Bishnu Paudel emphasized that land and housing should not be viewed solely from a business perspective. 

Speaking at the third general assembly of the Nepal Land and Housing Development Federation in Kathmandu on Friday, he urged stakeholders to recognize land and housing as a vital component of a broader national development campaign.

He stated, "The issue of land and housing should not be viewed purely as a business. It is a significant part of a grand national development initiative and serves as an essential link in this mission. I wish to honour entrepreneurs who contribute to nation-building, not just those focused on profit-making."

The minister also reaffirmed the government's commitment to enforcing laws that mandate real estate transactions be conducted exclusively through authorized companies.

He added, "There is already a law in place requiring real estate transactions to be carried out solely through authorized companies. To implement this effectively, regulations must be introduced and enforced promptly. The government will prioritize this matter."

Minister Paudel further highlighted the government's efforts to address the recent slowdown in the real estate sector, pledging proactive measures to revitalize the industry.