The impact of the real estate market’s liquidity crisis: lower turnover and slower revenue collection
Bank spending cuts and rising interest rates have influenced the real estate business. The number of instruments passed in Chaitra has dropped to 70,830.
The Land Revenue Offices across the country passed 74,036 instruments in February. Banks are unable to lend easily due to a lack of liquidity. Even if a loan is given, the interest is costly. Real estate transactions in Chaitra have decreased despite the liquidity crisis in Falgun and rising interest rates. Turnover has declined in December and January. While Falgun’s business has improved, Chaitra’s revenue collection and real estate business has declined.
According to the latest figures from the Department of Land Management and Records, the number of documents passed by Land Revenue Offices around the country has reached 70,830. 70 thousand 168 instruments were passed in December of last year, but that number had plummeted to 59 thousand 516 in January. In Falgun, the instrument’s passing has drastically increased. It had grown to 74,036 in February. Since January, the number of instruments passed in Falgun has increased by 14,520.
In January, the number of instruments passed declined from 70 thousand 168 in December to 59 thousand 516. It grew to 74,036 in February, according to the department.
On the other hand, Falgun increased since the number of documents from most Land Revenue Offices decreased month after month. In January, the number of deeds passed declined by 10,652 compared to Poush.
Inaruwa, the Land Reform and Land Revenue Office, has sent 3523 letters to Chait. Three thousand two hundred eighty-six instruments were passed from this office in February.
Following Inaruwa, the Belbari Land Revenue of Morang passed 2834 instruments. There were 2872 instruments passed in Falgun. In Chaitra, the Bhadrapur Land Revenue of Jhapa has passed 2768 instruments. The office passed 2,772 instruments in Chaitra. In Chaitra, 2376 instruments have been passed, while Janakpur is in fourth place. Two thousand four hundred ninety-six instruments were passed in Falgun.
Banke Nepalgunj received 2271 votes, Lagankhel 2096 votes, Bhaktapur 1949 votes, Kavre 1936 votes, and Kalanki 1724 votes. Makwanpur received 1631 votes, Chitwan 1556 votes, Rajbiraj 1518 votes, Kalaiya 1479 votes, Damak 1455 votes, Biratnagar 1441 votes, Parsa 1410 votes, and Jaleshwor 1385 votes.
Revenue from real estate has declined in Falgun.
Due to the artificial and unregulated price of real estate and a lack of liquidity, the state’s revenue from real estate transactions in Chaitra has plummeted. The amount of money collected from real estate sales by most Land Revenue Offices across the country has decreased in Chaitra.
According to the department, the government received Rs 5.76 billion in revenue in April. Last January, the government received Rs 5.50 billion from real estate and Rs 6.26 billion in February. In November, the state received Rs 7.66 billion in real estate transactions, but this dropped to Rs 6.70 billion in December. Revenue increased in February after declining in January. It has decreased once more in Chaitra.
The Lagankhel Land Revenue Office in Chaitra, like in Falgun, has collected the most money. In Phagun, Lagankhel Land Revenue has collected Rs. 542.2 million, while in Chaitra, Rs. 584.5 million. Lagankhel Land Revenue received Rs 543.6 million in revenue in January.
Kalanki Malpot outperformed Dilli Bazaar in terms of revenue after Lagankhel. In Chaitra, Dilli Bazaar has collected Rs. 405 million. The wicked landlord had amassed Rs. 391.6 million in Falgun.
Dilli Bazaar Land Revenue came in third place in Chaitra, collecting Rs. 345 million. The office raised Rs 453.2 million in February. In January, Dilli Bazaar had a profit of Rs 438.6 million. Bhaktapur received Rs 324 million, Chabahil Rs 303.6 million, Manmaiju Rs 146.8 million, Kavre Rs 140 million, Chitwan Rs 137.6 million, and Sankhu Rs 115.8 million, according to the department. According to the department, Kaski received Rs 115.6 million, Parsa Rs 115.1 million, Nepalgunj, Biratnagar Rs 109.6 million, and Inaruwa Rs 101.9 million.