Real-estate business should be developed as prestigious industry: Minister Adhikari

Kathmandu, April 22: Minister for Land Management, Cooperatives and Poverty Alleviation, Balram Adhikari, has pointed out the need of activeness of entrepreneurs to develop 'real estate' sector as the prestigious industry.   

At a programme organized on the occasion of Third Establishment Day of Nepal Land and Housing Developers' Federation here today, Minister Adhikari shared that it was the responsibility of real-estate entrepreneurs to dispel misconception related to the sector. 

"Some of the nations in the world have forwarded real-estate business as the prestigious industry. But in Nepal, this sector has become failure to give positive message. It is necessary to drive away the people's misconception that real-estate business in done only for profit in Nepal", he mentioned.

Urging the real-estate entrepreneurs to run the business as per country's existing laws, Minister Adhikari opined that the government has been making policy-level, legal and procedural reforms to facilitate the private sector. 

He clarified that preparation was underway to revise six-decade old Land (Survey and Measurement) Act, adding the ministry has been working forming a committee to prepare a draft of the Land related Act and Survey Act has already been prepared.

Similarly, Founder and advisor of the Federation, Buddhi Narayan Shrestha, stated that real-estate business has huge contribution in country's economy.

He stressed the need of resolving problems facing this sector by holding discussion with related entrepreneurs. 

"A total of Rs 33 billion revenue was collected from real-estate business in nine months of the current fiscal year", he added.

Federation President Bishnu Prasad Ghimire said real-estate entrepreneurs are ready tp join hands with the government for country's economic prosperity, urging the government to remove policy-level and legal obstacles that the entrepreneurs are facing. 

On the occasion, Minister Adhikari honoured Federation Founder Shrestha and advisor Minmar Shrestha. (RSS)