Government To Provide Land For Lease Upto 40 Years
July 10, 2022 | Investopaper
The government has made a provision to provide any government land to any person or organization on lease for 40 years.
The Ministry of Land Management, Cooperatives and Poverty Alleviation has made arrangements to lease land for a period of upto 40 years. The policy related to registration, use and lease of government land has been published in the Gazette on Thursday.
The government land lease has been divided into three types according to the time period. The short-term lease will be given for 5 years, medium term for 15 years and long-term for 40 years.
Earlier, the government’s policy of registering, using and leasing government land in 2071 BS provided for short-term lease for 5 years, medium lease for 20 years and long-term lease for 30 years.
Foreign diplomatic missions and UN bodies, intergovernmental organizations, university boards, committees or other autonomous organizations established under the state government or local level, and any organization or person registered at the state government or local level can take the government land in lease.
