The Federal Parliament Secretariat has terminated the lease agreement for the building in New Baneshwor, which had been used as the Parliament building for years.
According to the Secretariat, the decision was made because the structure became unusable after it was severely damaged by fire and vandalism during the GenZ protests on Bhadra 23 and 24.
The agreement was canceled in accordance with Section 531 (2)(b) of the Civil Code, 2074, and the termination has been effective since the last week of Bhadra, the Secretariat stated. The building had been in use since 2064 BS.
Originally, the annual rent for the building was Rs 165 million, which was later reduced to Rs 149.8 million when the Law Commission took over payment responsibility. The lease had been renewed annually, with a 10 percent rent increase applied in fiscal year 2078/79.
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