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Good for Payment Cheque mandatory for property purchase and sale

Property Law    Nov 26 2017, 04:54 am

After the threshold for purchase and sale of real estate property dropped to Rs.10, 00,000, the Land and Revenue Office (Malpot Karyalaya) has started ownership transfer only on the submission of 'Good for Payment' Cheque. The Land and Revenue Offices have started seeking banking evidence of the cash transaction for purchase and sale of properties. Seeing the risk of cheque bounce on deposit of cheque, the offices seek the evidence of Good for Payment Cheque issue. However, prior to the introduction of this rule, no evidence had to be submitted at the Land and Revenue Office for any sum of transaction. Introduction of Good ...

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How to take the Construction Completion Certificate in Nepal?

Property Law    Nov 21 2017, 17:19 pm

The Construction Completion Certificate (Ghar Nirman Sampanna Pramanpatra) can be obtained after you submit the three forms issued by the Kathmandu Metropolitan along with the following documents. The Final Inspection from the Municipality Report also has to be submitted while applying for the Nirman Sampanna Kagaj.Required documents Xerox copy of citizenship certificate Xerox copy of Land Ownership Certificate (Jagga Dhani Praman Purja) and Blue Print of the building Receipts of tax, fees, penalties or fines to be submitted for payment to Kathmandu Metropolitan till now Sketch of the building made in specified design and approved by technician Photos of the house from all the four corners as it is ...

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Registration fees for buying and selling properties

Property Law    Nov 22 2017, 02:34 am

The municipal charge for registration fees for buying and selling properties in Nepal varies from one municipality to another municipality, be it urban or rural municipality. If your property is in municipal area and worth below NPR 10,000, you have to pay NPR 400 as registration fee.Similarly, if your property is worth below NPR 25,000 but above NPR 10,000, you are required to pay NPR 1,000. However, if the property is worth more than NPR 25,000, you are required to pay 4.5% of the total worth of the property. However, the fees of registration in Nepal is different if the property is in rural municipality; for the property worth ...

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