New York property exhibition to lure Nepali diaspora in USA

Kathmandu, November 27:

The Nepali diaspora in America willing to invest in real estate now can feel free to make safe investments in land and property in Nepal from America through “Nepal Property Expo-08”.

“Nepalis living in America, during their visit to Nepal can stay in their own flats instead of hotels in the country of their birth,” said Rajendra Shakya, chairman of Guna Group.

“We in the expo will present them dummy houses with attractive designs to choose from for making up their minds which one to invest in,” Shakya said adding that they can choose designs of apartments they feel comfortable to buy in Nepal.

Kathmandu Pvt Ltd (FKPL), a company dealing in real estate in Nepal, is going to showcase the two-day long ‘Nepal Property Expo-08’ at New York from December 27-28.

The expo is being organised jointly by Himalayan Herbal Garden Inc, New York, and Nepal Property Development Association along with Guna Group.

“Around 30,000 Nepalis live in New York and we expect around 5,000 visitors,” FKPL managing director Rajan Karmacharya said adding that Nepalis living in America are more interested in investing in real estate in Nepal.

Though the US is going through a recession, Nepalis are not an affected lot and they get an opportunity to make secure investments in property in Nepal, Karmacharya said adding the cost of a stall will be Rs 3,50,000 and there is no hidden cost.

FKPL expects property transactions worth Rs 10 billion at the expo. “The government can also

make huge revenue collection,” he said.

The expo will have 26 stalls with the participation of twelve housing companies, private banks and a remittance company while about eleven stalls will be of Nepalis living in America, according to Karmacharya.

Civil Homes Pvt Ltd, Oriental Builders Pvt Ltd, Guna Colony Pvt Ltd, Varun Developers (Park Horizon) Pvt Ltd, Kohinoor Housing Pvt Ltd, Stupa Housing Pvt Ltd, Echo Housing, Down Town Housing, Maharjan Builders Pvt Ltd and Karmacharya Awash Company Pvt Ltd and Silver Valley Pvt Ltd are some of the housing companies participating in the expo.

There is a Buy Back Guarantee too. A similar expo is being planned for the Nepali diaspora in the United Kingdom soon.