Himal Steel Property Expo Spawns Eager Beavers

The Nepal property expo sponsored by Himal steel (title sponsor) has paved an outstanding way for investment in land and housing business for NRNs and the common people.

According to the organisers of the event, the last day of the event will mainly focus on NRNs. However, the major attraction of the expo has been the Bhaisepatibased flats launched on the first day at the rate of Rs 1.3 to Rs 1.8 million. These are especially designed to cater to the housing needs of middle-class people.

"Guna is offering apartments at minimum cost. These apartments are built in the best possible way and provide all those facilities for which one has to pay higher prices in other housing companies," said Rajan Karmcharya, managing director of First Kathmandu Pvt Ltd. In order to register for the flats, one has to fill the form and deposit Rs 10,000. Around 6000 people filled the interest form and more than 1000 people registered their names. "On the first day, 500 people registered their names," said managing dierctor of Guna Colony, Rajendra Shakya adding that the response was very encouraging and that they have targetted to build 400 flats worth Rs 1.3 million and Rs 1.8 million each.

The newly-amended law regarding NRNs right to buy property in Nepal has increased the housing business. "According to the newly-amended law, NRNs can buy land up to 2 ropanies.

This has created an environment for investment in this sector," said Kathmandu Properties Pvt Ltd president Sagar Thapa. He added that the government should bring long-term policies in order to increase investment in the housing sector and to secure the rights of NRNs as well. Thapa added that at a time when many other businesses have been greatly affected by political unstabilities and economical crisis, land and housing business has shown steady growth. This has encouraged people to invest in this sector and the expo will surely contribute to expanding business.

Sudish Niraula, an exhibitor of Housing Nepal -- an online guide to property developers, agents/brokers, private sellers and firms -- said, "The expo will enable Nepali people to chose the best available real estate options and offer the opportunity to developers at the same time to promote their business."

According to Thapa, housing and land business has also increased the business of construction materials and at the same time increased direct and indirect employment opportunities for people.

More than 50,000 people visited the expo though on the final day the targeted visitor turnout was about 20,000. Niraj Panthee, a visitor from Naikap, found the expo worth visiting.

He was at the show to learn about the prevailing apartment price trends in Kathmandu and also to check out the nominal rates the exhibitors are offering. The online services offered by real estate sector is sure to increase the number of customers in the days ahead. One can log on to 1ropani.com to check out the rates of land and housings.

Amongst the exibitors participating, three stalls were awarded `most outstanding' on the last day of the expo. The winners were selected on the basis of voting by the observers and the prize of airlines tickets for Pokhara was awarded to each winning stall.