The Government of Nepal has formed the Shree Boudhanath Area Development Committee in 2053 BS by exercising the powers conferred by Section 3 of the Development Committee Act, 2013. Boudhanath has been a religious, historical and cultural heritage listed on the UNESCO World Heritage List since 1979. It is also the center of faith for Buddhists around the world. The Boudhanath Mahastupa is one of the most visited tourist destinations in Kathmandu. The duties of this committee include approving and implementing plans and programs related to Buddhism, contacting and coordinating with foreign governments, national or international organizations, institutions or individuals to implement plans and programs related to the development of this area, approving necessary programs for tourism development in places suitable for tourists, conserving natural resources within this area and maintaining environmental balance, maintaining coordination between the bodies operating development works operated by the government, non-government and private sectors within this area, and performing other tasks to fulfill the objectives of the committee as per this formation order. Within these objectives and duties, this committee has been doing remarkable work with honesty since its establishment for the progress, development, and promotion of the Boudhanath Stupa, its premises, the Peace Garden, Buddhism, the tourists and religious followers who come here.

The Boudhanath Stupa, located in Ward No. 6, Kathmandu Metropolitan City, listed on the UNESCO World Heritage List, is one of the major pilgrimage sites in Nepal. This pilgrimage site, famous throughout the world, including Tibet, was previously known as Khasti Chaitya. Today, it is also called Boudhanath, Boudhanath Stupa, and Khasti Chaitya. This stupa is an important pilgrimage site for Buddhist and Hindu pilgrims. Various legends have been found regarding the construction of this site, which is listed on the UNESCO World Heritage List (1979) and is a protected monument area. Although many legends have been found regarding the construction of this Chaitya, the authentic history of when and by whom this Chaitya was built has not been found yet.