The housing sector is starting to gather momentum after a months-long slowdown  with six new projects coming up in Kathmandu and Lalitpur.

The Kathmandu Valley Town Development Implementation Committee (KVTDC) and the Lalitpur Valley Town Development Implementation Committee (LVTDC) have each received applications from three companies for permission to construct apartment complexes.

Platinum Developers, Panorama Homes and Super Builders have applied to erect apartment buildings in Kathmandu while the Guna Group with two proposed projects and Classic Developers have applied in Lalitpur.

Platinum has proposed to build an apartment building at Kalanki. Panorama and Super Builders have applied to erect apartment complexes at Maharajgunj and Sukedhara respectively. The Guna Group will be building its RC Apartments at Sainbu, Bhainsepati and GN Apartments at Gwarko. Likewise, Classic Developers plans to erect its apartment building at Hattiban.

The last fiscal year saw fewer housing and apartment projects being launched following a series of government steps. The liquidity crunch followed by the central bank’s directives to banks and financial institutions to cap real estate and housing loans also made developers wary.

There were 36 housing and apartment projects announced in the Kathmandu Valley in fiscal 2008/09 while there were 23 in fiscal 2009/10. Housing developers said bookings for apartments had been hit by the reluctance of banks to provide loans.

With the new monetary policy stating that it would ease the credit ceiling for housing construction, developers are hopeful that the sector will be reenergized. “The announcement of the new monetary policy has given some relief to developers like us,” said Prakash Bajracharya who is involved in two apartment projects.

Housing developers are hoping that banks will loosen credit after the central bank announced that the ceiling for the realty sector would be fixed at 10 percent.

Awaiting approval
> Platinum Developers
> Panorama Homes
> Super Builders
> Guna Group
> Classic Developers

source:Giri, S. (2010),"Housing sector sees action",The Kathmandu Post, 29 August 2010