Kathmandu. The Department of Land Management and Archive has reminded the government of the provision of obtaining a license for carrying out real estate transactions. The Department has urged firms, companies and institutions willing to carry out real estate transactions in metropolitan cities and sub-metropolis to apply online within 21 days.

According to the notice published in the gazette through a notice published in the Gazette, firms, companies or organizations wishing to carry out real estate transactions worth more than three million rupees at a time in metropolitan cities and sub-metropolitan areas should compulsorily obtain a license. According to the notice, interested organizations and companies have to apply through the online system of the Department.

The fee for obtaining the license has also been fixed according to the nature of the transaction. Firms, companies or organizations doing business up to five crore rupees at a time have to pay five lakh rupees. Similarly, those doing business of more than Rs 50 million will have to pay Rs 10 lakh.

The Department has clarified that the firms, companies and organizations that have not obtained the license by Ashad 2083 BS should also apply online again as per the new notice.

Along with the online application, a copy of the submitted documents should be printed and submitted to the department. After registering the application, the board members of the concerned company or organization should also submit a letter stating that they are not involved in criminal activities on the basis of the records of the Central Crime Information Archive of Nepal Police.

The department has also requested people to contact the department if they need more information regarding the license.