Owing to favourable climatic conditions and fertile land, Damphu town in Tsirang is fast becoming a preferred place for settlement for many people around the country. And in recent years, more public servants working in the district began to buy themselves plots to settle after retirement and some for commercial purposes. This soaring demand has escalated the land prices in Damphu town and its peripheral areas in the last few years.
In recent years, an increasing number of people started to buy plots in the town and began constructing houses. This, people say, is owing to the town’s favourable climatic condition suited to grow a variety of crops. And because of its strategic location, marketing their farm produce is not very challenging. As such the price of land more than doubled in the last few years.
Some of the town’s residents explained that Damphu Municipal office’s decision to approve private constructions in the locality could have also added to the soaring land price.
“The Thromde area is already purchased by some owners and land is scarce in Damphu. That is why the land price is going up. The other thing is that Gelephu has been developing very well so far but due to the pandemic, now many people choose to settle here in Damphu and nearby areas,” said C.P. Rana, a Damphu resident.
“A year ago, I bought two plots in LAP-3 paying Nu 80,000 per decimal but in a year the price reached Nu 180,000 per decimal. This is because Damphu is a good place for settlement owing to a suitable climatic condition,” said Jai Bdr. Ghimiray, another resident.
“The land prices in nearby the town areas have also soared up in recent times. Recently, I managed to buy a plot paying Nu 65,000 per decimal, which was around Nu 40,000 to 45,000 per decimal, last year. I am not sure why land prices are shooting up. It may be because of more people looking for land,” said Dargo.
As land becomes scarce and demand soars, the price is expected to increase at an exponential rate every passing year.
Pema Tshewang, Tsirang
