At least 488 units of affordable houses have been completed, inspected and handed over to the government.
The government has now started allocating the housing units located along Park Road in Ngara, and the sale will be closed at the end of this week.
“For all those who have registered on BomaYangu and have chosen Park Road specifically as your preferred scheme, kindly note we are closing the sale this coming week,” said Principal Secretary for Housing and Urban Development Charles Hinga.
One-bedroom unit will go for Ksh1 million, two bedrooms for Ksh2 million and a three-bedroom unit for Ksh3 million with an interested individual required to deposit 12.5 percent of the amount based on the unit of choice.
The remaining amount can be cleared through cash or mortgage, with the government having negotiated mortgage deal with various banks on behalf of the buyers.
“We have negotiated a good mortgage deal for you with the listed participating banks. Visit your preferred bank and ask for a pre-approval for the balance and you are good to go,” added Hinga.
Among the banks that have agreed to offer mortgages worth Ksh365 billion include Equity, Co-operative, Absa, KCB, Stanbic, NCBA and HF.
The Park Road project consists of 1,370 housing units, with 822 of the housing units meant for the public at fixed prices with the remaining 548 reserved for civil servants on a 60 to 40 percent criteria.
The new units entail social amenities including parking, rooftop gardens, running track, solar water heaters, lifts, perimeter wall and security gate, retail and commercial centre and a safe children’s playground.