The third edition of the NLHDA Kantipur Real Estate Expo 2013 concluded on Wednesday, with the organisers saying that the four-day event held at the Capital’s Bhrikutimandap from May 2-5 have helped revitalise the sector facing slump since the past three and a half years.
Om Rajbhandary, coordinator of the expo, said that the event helped bridge the gap between buyers and property developers. “The expo provided financial and engineering consultancy to aware consumers on the current scenario in the real estate sector,” he said, adding that it has gone a long way in clearing misconception about the realty sector.

 A total of 16 property developers had participated in the expo, where the prospective buyers were offered attractive discounts and special arrangements on purchase and booking of properties. Site visit were also conducted for the potential buyers from the expo venue.
Mahesh Swar, chief marketing officer of Kantipur Publications, said the expo has instilled new energy into the realty business.

 Nepal Rastra Bank Governor Yuba Raj Khatiwada said the government with considering the realty business as an industry. Stating that the NRB had simplified policies to promote realty sector, he urged property developers to ensure proper use of land. “They should also be serious about conservation of natural resources at the same time,” he said.

 Khatiwada said the developers need to make a proper market and price analysis to balance demand and supply in the realty sector. Clarifying the strict policy that the government imposed on realty business three years ago was to safeguard the banking sector from unsustainable credit, he said: “The banking sector will realise what type of risk they had taken by investing in the realty sector, next year,” he said. Speaking on the occasion, Minister for Urban Development Chhabiraj Pant pointed lack of proper land classification practice, problem in assessing capital gain and policy flaws in loan recovery as the major problems facing the realty sector. “The government is enforcing a strict directive to control these problems in the realty business,” he said.

source: the kathmandu post,15 May 2013