Land subsidence is identified as a global problem and intensive studies are being conducted worldwide to detect and monitor risk of this problem. Risk assessment of land subsidence is simply an evaluation of the probability and frequency of occurrence of land subsidence, exposure of people and property to the subsidence and consequence of that exposure. Remote sensing technology was used to extract information of land subsidence in Kathmandu Valley, Nepal. Also, Disaster Risk Index method and Analytic Hierarchy Process (AHP) along with Geographic Information System (GIS) tools were used to assess risk of land subsidence in Kathmandu Valley, Nepal. Subsidence volume for locations Central Kathmandu, Chauni, Lalitpur, Imadol, Thimi, Madhyaour Thimi, New Baneshwor, Koteshwor and Gothatar was calculated using a simple mathematical formula. The subsidence depth for these locations was found to be in a range of 1 cm to 17 cm and the maximum subsidence velocity was found to be 4.8 cm/yr. This study revealed that the location where maximum subsidence was observed (i.e. Central Kathmandu and Lalitpur) was found to be at high risk of experiencing land subsidence induced damage. Other location where subsidence was observed was found to be at medium risk and the rest of the Kathmandu valley was found to be at low risk with current data situation. This study can be considered as the first step towards other comprehensive study relating to land subsidence risk assessment. The outcome of this research provides a basic understanding of the current situation that can further assist in developing prevention and risk management techniques.