Pokhara: Despite slump in realty transactions, more than half a dozen housing companies here have launched new projects targeting customers from Kathmandu.Housing developers said businessmen and professionals like doctors, engineers, pilots, civil servants, officials of security agencies and promoters of educational institutions are lately buying houses in Pokhara.

"A large number of well-off clients from Kathmandu are approaching us for housing units", said Tej Baniya, manager of Pokhara Homes. According to Baniya, the market of housing in POkhara is blooming as more customers from the capital city are attracted to the lake city due to its landscape, good climate and peaceful environment.

KC constructions, the promoter of Pokhara Homes-- the first housing project of Pokhara, had recently unveiled a plan to build 80 standalone houses along with joint apartments in 70 ropanis of land. It had opened bookings for 54 standalone houses to develop in the first phase.

"All but two standalone houses have already been booked", said Baniya, adding."Once the remaining houses are booked, we will start marketing the remaining 32 houses that we plan to build in the second phase".

Fishtail Residency promoted by Annapurna Developers has also opened booking for houses in the community living project that it is developing near the Pokhara Airport.Under the project, Annapurna Developers is building 63 standalone houses in 32 ropanis of land.

"Of them, construction of 41 houses, will be completed soon," said Dhruva Kumar Shrestha, promoter of Fishtail Residency.

Other developers too said that majority of their houses in their projects have already been booked.

According to the developers, local traders and people returning from overseas jobs form the biggest chunk of their customers.Of late Kathmandu-based businessman and retired government and security officials too are buying houses in Pokhara.Former chief Pyarajung Thapa and promoter of Galaxy Public School, Geeta Rana, recently booked houses of Pokhara Homes.

"People from Kathmandu are buying houses as their holiday homes," added Baniya.

Meanwhile, the demand for housing units in Pokhara has led to rise in land and house prices in the lake city. Officials of Pokhara Houses have almost tripled over the past five years.

"When we first ventured into housing sector, independent homes were prices around Rs. 5.5 million.Now it has jumped to high as Rs. 14 million,"said baniya.

Apart from rise in demand, increment in prices of construction materials and wage of workers too have contributed in the rise in land and housing prices.

source: Adhikari, Manoj(2011),"Housing gets fresh boost in Pokhara", republica, 6 June 2011
?