Kathmandu. KATHMANDU: The Department of Land Management and Archives has invited applications for real estate transactions. Issuing a public notice on Thursday, the department invited applications for a real estate license.

According to the notice published in Nepal Gazette on October 11, the Department has declared metropolitan cities and sub-metropolitan cities as working areas. Firms, companies or organizations interested in transacting more than Rs 30 million at a time have to submit an application online within 30 days.

Those interested in the application should scan the documents mentioned in Schedule-8 of the Land Revenue Rules-2036 (Eighth Amendment 2082) through the Department’s website and submit the application in the same format. According to the department, this provision has been implemented to maintain transparency and regulation in real estate transactions.

According to the department, the application fee should be Rs 500,000 in case of an individual (firm, company or institution) and Rs 10 lakh in case of a person (firm, company or institution) who have a turnover of less than Rs 50 million or more at a time.