Everyone dreams of becoming a proud owner of a beautiful home. Since one usually builds a house only once in a lifetime, one must think through before setting off on the task. Gone were the days when people had no other option than to construct a house on their own lands.
Today, there are dozens of private housing companies in the valley offering residential housing facilities, and just as many apartment companies offering residential flats.So, you now have a choice to either build a house on your own or opt for housing or apartments.
Since their inception in 2002, private housing and apartment companies have till date provided planned residential facilities in around 3,000 units. Similarly, there are altogether more than 1,000 units of such ongoing projects under these companies. The popularity and growing demand for such planned mode of urbanisation in the valley is quite evident by this. According to the department of Urban Development at Kathmandu Metropolitan City, around 4,400 plans for housing were registered in the fiscal year 2065/66, while the figure till date for this fiscal year stands at around 3,300. "The department record clearly shows that the registration has declined by 25 per cent this year as compared to the last fiscal year," said Suraj Shakya, Architect Engineer at the department, adding that it is to some extent because of the growing trend of living in private housing and apartments and also because of the imposition of cap on financial institutions' loan exposure in real estate and housing by the apartment companies have been set up within the current fiscal year alone. "The concerned authority has finally come to terms with the reality and has promised to review the directive which is ineffective in monitoring the unhealthy practices being carried out," he said. He also emphasised on the need for the government to come up with certain control mechanisms to separately deal with the issues of land collectors, land developers and housing and apartment developers.
Some advantages of readymade housings and apartments:
· Planned urbanisation · Security · Burden free · Sound living · Well equipped · Good resale value