Kathmandu, Oct 3: Nepali citizens could be able to buy new homes by making a down payment of Rs 500,000 and paying monthly instalments starting at Rs 11,000 under a new bill registered in Parliament.
The Ministry of Infrastructure Development has registered the Building Bill, 2083, at the Federal Parliament Secretariat, proposing measures to ensure housing for low- and middle-income families.
The bill, which seeks to amend the Building Act, 2055, proposes housing grants of up to Rs 75,000 for poor and disadvantaged citizens. Of this, the federal government would provide Rs 50,000 and the provincial government Rs 25,000.
The proposed law aims to guarantee housing for low-income families while expanding access to safe and properly planned homes for middle-income households.
Nepali citizens building a house for the first time would be provided river-based and other natural construction materials free of cost, provided they follow government-approved designs and standards. People applying to construct cattle sheds would also qualify for free natural construction materials.
The bill also proposes relocating disaster-affected communities and settlements considered unsafe or at risk to safer locations, where the government would construct new homes for them.
For middle-income families, the proposed law and regulations envisage the construction of safe, earthquake-resistant “smart homes” meeting basic building standards.
Such houses would cost between Rs 2 million and Rs 7.5 million and have plinth areas ranging from 900 to 1,300 square feet.
Citizens would be able to purchase the homes through concessional loans. Under one proposed option, a buyer could make an initial payment of Rs 500,000 and pay monthly instalments of Rs 11,000 for up to 15 years.
Other options include a Rs 1 million down payment with monthly instalments of Rs 15,000, Rs 1.5 million with Rs 20,000 monthly, Rs 2 million with Rs 30,000 monthly, and Rs 2.5 million with Rs 35,000 monthly.
The ministry said the bill seeks to legally guarantee every Nepali citizen’s right to housing, ranging from housing support for low-income citizens to safe and organised homes for middle-income families.
People’s News Monitoring Service
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