Nepali Times Asian Paints
From The Nepali Press
No home away from home, Nagarik



During the last budget, the government decided to permit foreigners as well as non-residential Nepalis (NRNs) to purchase apartments in Nepal worth $200,000 or more. However, due to disagreements among government officials there has been a delay and the procedure is stuck in limbo.

Icchyaraj Tamang, president of Nepal Property and Residency Development says that in the absence of a final approval from the government, real estate agents are forced to turn away many prospective buyers. He urges concerned authorities to complete the administrative procedures immediately because this would not only boost the housing industry, but also improve the country's economy. Gopal Giri from the Ministry of Land Reform and Management said the process will be concluded soon.



LATEST ISSUE
638
(11 JAN 2013 - 17 JAN 2013)


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