Oct 30, Kathmandu - The process of issuing licenses to real estate traders has begun.

The Department of Land Management and Archive issued a public notice on Thursday, calling for applications within 30 days.

The recent amendment to the Property Act has made it mandatory for those in the metropolitan and sub-metropolitan municipalities to obtain a permit for real estate transactions exceeding three million rupees at a time.

Accordingly, the department has called for applications.

It is mentioned that a person (firm, company or organization) who makes a transaction of up to 50 million rupees at a time will have to pay five hundred thousand rupees and a person (firm, company or organization) who makes a transaction of any amount less than or more than five hundred million rupees at a time will have to pay one million rupees.