Lawmakers voted 560-4 that Nepal will become "an independent, indivisible, sovereign, secular and an inclusive democratic republic nation," The Telegraph reported.

The resolution also said that "all the privileges enjoyed by the king and royal family will automatically come to an end."

The Narayanhiti Royal Palace is to become a museum, The Hindu reported.

The Constituent Assembly is now set to amend the country's constitution and elect a president and a new prime minister of the Himalayan nation, the newspaper said.

The president will be the commander of the army and also have the authority to impose emergency rule on the recommendation of the Cabinet.

King Gyanendra inherited the throne seven years ago, after 10 members of the royal family were massacred by Crown Prince Diprenda. He is expected to move to his Kathmandu mansion, the newspaper said.