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Saika Plot Deal: Point of Advice
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Mkenia
#1 Posted : Thursday, May 16, 2013 12:19:09 PM
Rank: New-farer


Joined: 5/16/2013
Posts: 14
I am currently contemplating purchasing a two ’20 by 75’ plots located at Saika along Kagundo Road that have been flouted by ‘Kiragu and Mwangi ‘ and going for KES 1.5M each.
Typically, I am thinking of putting up a flat.

Kiragu & Mwangi Saika Plot Sales

Kindly wazuaian give me guidance on the following:
1. I am yet to do a proper due diligence, but from anyone informed; Is it correct to assume Kiragu and Mwangi are credible agent and have done a proper back ground on the ownership of the land. NB: kagundo rd, mwiki, juja … and general eastern bypass environ has been known to be a playing field of cons.
2. Is this a viable investment option?
3. How much is a one and two bedroom unit costing in rental at Saika.
4. In terms of returns (ROI), which between one and two bedroom units has more returns while at the same time continual demand?
5. How many units of one or two bedrooms can fits in this size of plot and whats the approx total capital outlay without including the cost of land and assuming I am putting a 4 storey flat.
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selah
#2 Posted : Thursday, May 16, 2013 1:01:58 PM
Rank: Elder


Joined: 10/13/2009
Posts: 1,950
Location: in kenya
If the plots are the ones just next to the estate as in they will be under controlled development then the investment is worth the price but if the plots are just open for anything then be very careful.This are my reasons.

1.I suspect that land has issues either it is owned by a bank or Govt or even KPCU who I presume border the land.

2.If the land is clean then it borders Dandora on one side therefore if the development will not be controlled the pricing might get messy and ruin the property value.

3.If it will be controlled development then you will get value for your money.in Saika estate,the units range from 20k to 50k per month depending on the number of bedrooms....getting a vaccant house there is difficult...I think most units are occupied by owners.I did not see any flats in the estate apart from outside the estate i.e adjoining estate without controlled development.
'......to the acknowledgment of the mystery of God, and of the Father, and of Christ; 3 In whom are hid all the treasures of wisdom and knowledge.' Colossians 2:2-3
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mlennyma
#3 Posted : Thursday, May 16, 2013 1:49:15 PM
Rank: Elder


Joined: 7/21/2010
Posts: 6,182
Location: nairobi
Range from 20 to 50k????uwongo mob
"Don't let the fear of losing be greater than the excitement of winning."
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selah
#4 Posted : Thursday, May 16, 2013 2:26:42 PM
Rank: Elder


Joined: 10/13/2009
Posts: 1,950
Location: in kenya
mlennyma wrote:
Range from 20 to 50k????uwongo mob


The last time I was there,those were the ranges, although most rental units were occupied by R.O.S.S and Somali citizens b4 the pacification....the rates might have gone down once most of these tenants relocated to their home countries.

But trust me minimum rent currently would be 20K for a 2 bedroom house.
'......to the acknowledgment of the mystery of God, and of the Father, and of Christ; 3 In whom are hid all the treasures of wisdom and knowledge.' Colossians 2:2-3
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Mkenia
#5 Posted : Monday, May 20, 2013 10:25:06 PM
Rank: New-farer


Joined: 5/16/2013
Posts: 14
@Selah, I am told the land was owned by Jirongo, was possesed by some bank before b4 sold to some asian family. The areas is considered non controlled.

My preference is to built rental flats
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