Real Estate Sector Faces Crisis, Demands Policy Reforms

Biratnagar. The Nepal Land and Housing Development Federation has demanded immediate policy reforms from the government, stating that the real estate (land and housing) sector, which is the backbone of the country's economy, is in serious crisis.

In a press release issued on Monday, Shrawan 25, after a joint meeting held at the Federation's secretariat in Buddhanagar, seven-point suggestions have been presented to address the current legal, policy, monetary, and administrative challenges. The Federation has concluded that the real estate business has been pushed towards recession due to the state's unstable policies, legal complexities, and monetary sluggishness.