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Ngara Civil servants housing project
Zenge
#1 Posted : Wednesday, October 10, 2012 8:08:13 PM
Rank: New-farer


Joined: 4/7/2011
Posts: 98
The largest single housing project has been completed and inaugurated by the government today. It cost 2.2bn and comprises of 656 housng units etc etc.....
Is there a way for non-civil servants to join in and what was the criteria for the civil servants to join.
At a mortgage interest of 5% (dont know if its fixed or floating rate) this is a real dream come true for most..
Gordon Gekko
#2 Posted : Wednesday, October 10, 2012 8:48:09 PM
Rank: Elder


Joined: 5/27/2008
Posts: 3,501
"The largest single housing project " You have not been to Buru buru (5,000 units before all the extensions and sqs) and Nyayo Embakasi (> 2,000 and counting).
Jamani
#3 Posted : Wednesday, October 10, 2012 10:41:00 PM
Rank: Elder


Joined: 9/12/2006
Posts: 1,554
Quote: "The Ngara Civil Servants Housing Estate near the Kenya Institute of Education (KIE) became ready for occupation last Monday and consists of two and three bedroom apartments each valued at Sh3.2 million and Sh4.2 million respectively..............“Nobody will lend you money at five per cent to go build a house; that rate is a special thing,” added the President, referring to the interest applicable to the civil servants when paying for the new homes."
richdad
#4 Posted : Wednesday, October 10, 2012 11:20:50 PM
Rank: Member


Joined: 2/12/2010
Posts: 473
Location: Nairobi
Is the CJ getting one of those or are they still in search?
Keep it simple
Zenge
#5 Posted : Wednesday, October 10, 2012 11:51:35 PM
Rank: New-farer


Joined: 4/7/2011
Posts: 98
I hope the guys in Ministry of Jiam have not grabbed everything
VituVingiSana
#6 Posted : Thursday, October 11, 2012 12:00:20 AM
Rank: Chief


Joined: 1/3/2007
Posts: 9,759
Location: Nairobi
So the taxpayer is subsidizing the civil servants. Again. Let them pay market rates like the rest of us so they understand our pain.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
shygal
#7 Posted : Thursday, October 11, 2012 6:43:59 AM
Rank: New-farer


Joined: 12/31/2011
Posts: 90
But then again, how many civil servants would afford a morgage for a house valued at between sh.3.2M and sh.4.2M even at an interest rate of 5%? They should have also develop some I Million shillings houses which would have been been more affordable.
guru267
#8 Posted : Thursday, October 11, 2012 6:50:25 AM
Rank: Elder


Joined: 1/21/2010
Posts: 6,157
Location: Nairobi
shygal wrote:
But then again, how many civil servants would afford a morgage for a house valued at between sh.3.2M and sh.4.2M even at an interest rate of 5%? They should have also develop some I Million shillings houses which would have been been more affordable.


Its is sooo affordable that its annoying..

Anyone taking a 15year mortgage will only have to pay less than 20k per month...That is cheaper than rent in many places!!
Mark 12:29
Deuteronomy 4:16
dunkang
#9 Posted : Thursday, October 11, 2012 8:31:02 AM
Rank: Elder


Joined: 6/2/2011
Posts: 4,109
Location: Lat -1.2107, Lon 36.8831
guru267 wrote:
shygal wrote:
But then again, how many civil servants would afford a morgage for a house valued at between sh.3.2M and sh.4.2M even at an interest rate of 5%? They should have also develop some I Million shillings houses which would have been been more affordable.


Its is sooo affordable that its annoying..

Anyone taking a 15year mortgage will only have to pay less than 20k per month...That is cheaper than rent in many places!!


Mind you its Ngara, a mile away from the CBD.
creativity is guided by intentions, not intuitions
bwenyenye
#10 Posted : Thursday, October 11, 2012 8:56:53 AM
Rank: Elder


Joined: 5/24/2007
Posts: 1,750
For them to get rates of 5%, there will most likely be a cash backed or govt guaranteed lending. This means that MY & YOUR MONEY will earn 0% so that a fellow who is hardly in the office and is mostly active in his matatu and strikes for pay increase gets a 5% rate......( while I work harder and repay mine at 20% ( this will most likely go up coz the govt has to borrow to keep idle funds in an account somewhere)

Kenyans,we are being Scr****ed more every day....
Do not think inside the box. Neither think outside the box. You should remove the box and think free!!!! Peter Kenneth
sitaki.kujulikana
#11 Posted : Thursday, October 11, 2012 9:04:28 AM
Rank: Member


Joined: 8/25/2012
Posts: 254
the location is very good, hope the estate management does a good job, in keeping order and security.
the deal
#12 Posted : Thursday, October 11, 2012 9:05:23 AM
Rank: Elder


Joined: 9/25/2009
Posts: 4,206
Location: Windhoek/Nairobbery
The best way to do it, is for the civil servant to get a morgage at market related rates according to his/her salary scale & then GoK pays 50% then the other 50% is met by the civil servant...how many civil servants are there? And how many estates of this type are they going to build? The governments role should be more focused on land delivery, if GoK or the CCN could avail more affordable land to property developers then most likely houses in Nairobi could be 50% cheaper.
rryyzz
#13 Posted : Thursday, October 11, 2012 9:09:13 AM
Rank: Member


Joined: 5/19/2012
Posts: 489
shygal wrote:
But then again, how many civil servants would afford a morgage for a house valued at between sh.3.2M and sh.4.2M even at an interest rate of 5%? They should have also develop some I Million shillings houses which would have been been more affordable.



Most employees get some form of benefit that come with their jobs. For these guys, one of their benefits is the 5% interest rate on their mortgage. How many of us on leaving campus wanted to work for Govt.?? Your guess is as good as mine, so why are we complaining now when things seem to be looking up for those in the civil service?
Sad
Too often we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment, or the smallest act of caring, all of which have the potential to turn a life around.... Leo Buscaglia
guru267
#14 Posted : Thursday, October 11, 2012 9:19:12 AM
Rank: Elder


Joined: 1/21/2010
Posts: 6,157
Location: Nairobi
rryyzz wrote:
shygal wrote:
But then again, how many civil servants would afford a morgage for a house valued at between sh.3.2M and sh.4.2M even at an interest rate of 5%? They should have also develop some I Million shillings houses which would have been been more affordable.



Most employees get some form of benefit that come with their jobs. For these guys, one of their benefits is the 5% interest rate on their mortgage. How many of us on leaving campus wanted to work for Govt.?? Your guess is as good as mine, so why are we complaining now when things seem to be looking up for those in the civil service?
Sad


@rryyzz i totally agree with your point! The sad thing is that there are still very many skeptics of GOK here..

But soon they will be believers..
Mark 12:29
Deuteronomy 4:16
Kausha
#15 Posted : Thursday, October 11, 2012 9:55:57 AM
Rank: Member


Joined: 2/8/2007
Posts: 616
Lost Government, I found the statement on rates by the HOS cynical. You are subsidizing civil servants who you recently added salaries. The subsidy is two fold, the cost of house relative to the market and the 5% rate.

I would have expected the HOS to say what his 'great' government is doing to alleviate the pain of borrowers who are borrowing at 20%+ and what his government is doing to ensure there is reasonable inventory levels completed each year.....

As for the houses they are worth much less than they are being sold...the real contraptions resembling the 'projects'
VituVingiSana
#16 Posted : Thursday, October 11, 2012 10:13:15 AM
Rank: Chief


Joined: 1/3/2007
Posts: 9,759
Location: Nairobi
rryyzz wrote:
shygal wrote:
But then again, how many civil servants would afford a morgage for a house valued at between sh.3.2M and sh.4.2M even at an interest rate of 5%? They should have also develop some I Million shillings houses which would have been been more affordable.

Most employees get some form of benefit that come with their jobs. For these guys, one of their benefits is the 5% interest rate on their mortgage. How many of us on leaving campus wanted to work for Govt.?? Your guess is as good as mine, so why are we complaining now when things seem to be looking up for those in the civil service?
Sad
1) No country became sustainably great based on working for the government. China's ascent started in 1979 AFTER the liberalization [encouragement of the private sector] not due to government jobs or largesse.
2) The civil service in Kenya is too large a % of the total workforce leading to inefficiencies & fiefdoms. The recurrent expenditure out-weighs development expenditure. The latter provides sustainable growth.
3) The self-employed taxpayer NOT the civil servant is the ultimate taxpayer in an economy like Kenya. Kenya has few extractive industries so the 'real income' is from the self-employed esp farmers. Everything else is a derivative.
4) Most civil servants are NOT as hard-working as the self-employed. They open at 9am & close at 5pm. To serve my customers, I will work over lunch, open early & almost always work beyond 5pm. I do not expect a pension, no subsidies, pay VAT, withholding tax, etc. My side hustle is my main hustle. My sick days means no income. My vacation days means no income. My time spent queuing at government offices since the (un)civil 'servant' is having tea, talking on the phone or gossiping means no income.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Dash
#17 Posted : Thursday, October 11, 2012 11:17:38 AM
Rank: Member


Joined: 3/24/2010
Posts: 676
Location: Nairobi
I am going to use the words many of you use when someone here complains about their job or something of the sort. They are told stop complaining and quit your jobs and go into private sector e.t.c e.t.c. I guess if you have a problem with this you can also quit private sector and look for work with GOK and voila, cheap housing. smile
VituVingiSana
#18 Posted : Thursday, October 11, 2012 11:34:32 AM
Rank: Chief


Joined: 1/3/2007
Posts: 9,759
Location: Nairobi
Dash wrote:
I am going to use the words many of you use when someone here complains about their job or something of the sort. They are told stop complaining and quit your jobs and go into private sector e.t.c e.t.c. I guess if you have a problem with this you can also quit private sector and look for work with GOK and voila, cheap housing. smile
Which is true but a problem too. At some point who pays taxes? Many European countries lost large portions of the 'wealthy' who opted to move elsewhere for tax purposes. The USA encouraged inward immigration of the 'doers' leading to massive intellectual capital inflows. Singapore is doing the same.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
jaggernaut
#19 Posted : Thursday, October 11, 2012 11:39:04 AM
Rank: Elder


Joined: 10/9/2008
Posts: 4,343
rryyzz wrote:


Most employees get some form of benefit that come with their jobs. For these guys, one of their benefits is the 5% interest rate on their mortgage. How many of us on leaving campus wanted to work for Govt.?? Your guess is as good as mine, so why are we complaining now when things seem to be looking up for those in the civil service?
Sad


Well said. No one complains here when companies give their employees interest free loans or banks give their employees loans at 6% when everyone else is being charged 20% plus interest. So let the govt employees also enjoy benefits from their employer.
jaggernaut
#20 Posted : Thursday, October 11, 2012 11:52:23 AM
Rank: Elder


Joined: 10/9/2008
Posts: 4,343
Kausha wrote:
Lost Government, I found the statement on rates by the HOS cynical. You are subsidizing civil servants who you recently added salaries. The subsidy is two fold, the cost of house relative to the market and the 5% rate.

I would have expected the HOS to say what his 'great' government is doing to alleviate the pain of borrowers who are borrowing at 20%+ and what his government is doing to ensure there is reasonable inventory levels completed each year.....

As for the houses they are worth much less than they are being sold...the real contraptions resembling the 'projects'


Wivu???? Shame on you Shame on you Shame on you The houses look good to me. They look just like the apartments in Kileleshwa etc only that civil servants will pay 3.2m instead of 16m.

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