Kathmandu- Real estate transactions in Falgun remained stable compared to Magh, with a total of 46,061 land deed registrations recorded.
In Magh, the number of registered land deeds was slightly higher at 46,069. While there was a surge in transactions in Poush, activity remained steady in Magh and Falgun. In Poush, land revenue offices across the country recorded 48,156 deed registrations.
Currently, approximately Rs 700 billion is held within the banking system. Despite abundant deposits and lower interest rates, loan disbursement remains sluggish.
Investors appear to be in a wait-and-watch mode, expecting further declines in property prices, resulting a stagnant real estate transactions in Falgun.
By the end of Magh in the current fiscal year, the average lending interest rate had fallen to 8.55 percent, while the average deposit interest rate declined to 4.62 percent.
The continued drop in lending rates is a result of sluggish loan investments. Although deposits in banks have increased, lending has not kept pace, prompting banks to lower deposit interest rates further.
However, even with lower borrowing costs, real estate activity has not picked up as investors are still anticipating better buying opportunities.
In Falgun, the government collected Rs 4.12 billion in revenue from real estate transactions.
According to the Department of Land Management and Archives, revenue collection in Falgun saw an increase compared to Magh.
The department’s records show that revenue collections stood at Rs 3.835 billion in Shrawan, Rs 3.09 billion in Bhadra, Rs 3.0812 billion in Asoj, Rs 2.704 billion in Kartik, Rs 3.87 billion in Mangsir, Rs 4.2522 billion in Poush, and Rs 3.8724 billion in Magh.
