The land registration records of the major five Land Reform Offices (LRO) revealed that the number of land registrations have decreased by 30-40 per cent on an average, after the central bank’s decision to put cap on lending of banks and financial institutions.

According to Padam Prashad Aryal — officer of Dillibazar land reform office — the number of land registration has increased in the VDCs with some 16,574 registrations, whereas it has decreased in Municipal areas with the registration of about only 6,028.

However, the amount of revenue collected by the land registration of the VDCs is lesser than in the municipal areas due to only two per cent tax charged on VDCs.

The amount of revenue collected by the Dillibazar LRO is about Rs 210.79 million in December 2009, but immediately after the NRB directives, the revenue plunged to Rs 80.73 million in January. The total land transaction has been recorded to be 38,920 in number with the total revenue collected at Rs 1.44 billion in the fiscal year 2008-09, whereas the transaction decreased to 23,802 numbers within April 30 of the fiscal year 2009-10.
“Although December-January is the peak season for the land transaction, the trend shows decrease in the land registration,” said, Tukram Koirala officer at registration department at Kalanki Land reform Office. “Last month during the peak hour, a total amount of revenue collected was at Rs 10 million, but during the same time this year, it looks difficult to meet the target,” Koirala said adding that the revenue could be much less. However, land registration in the name of female has increased.

Courtesy: The Himalayan Times