Kathmandu. Real estate transactions are gradually decreasing across the country.

As the turnover has decreased, the revenue collection has also decreased. According to the Department of Land Management and Records, the volume of revenue collection has gradually declined in the first four months of the current fiscal year.

Although the government has facilitated real estate transactions, revenue collection has not increased as expected. Only a few days ago, the government amended the Land Use (Third Amendment) Regulations. The Land Revenue Office across the country had collected revenue of Rs 2.74 billion in the month of November.

The government had collected Rs 2.75 billion in revenue in September last year. Likewise, revenue worth Rs 3.14 billion was collected in August. According to the Department of Land Management and Records, revenue worth Rs 3.28 billion was collected in the last August.

According to the department, the department collected Rs 213.44 million from service tax, Rs 1.50 billion from registration tax and Rs 997.84 million from capital gains tax in the last fiscal year.