Its a good project but the cost is way too high.But being not here they are a better investiment for a diasporian rather than engaging relatives to do one for you.

KENYA OUR BELOVED COUNTRY

Suraya has been around for sometime now. It has developed Rosslyn Heights and Rosslyn Gardens (which is yet to be completed).

The location is great though the price seems high for the plot and house size(s) on offer. Lilac,Iris and Hibiscus designs have some issues such as direct access of the guestwing bedroom through the living room and small bedroom sizes at 10sqm (Iris).

However,since you are away and the prices are unlikely to come down,it may be a good idea to invest in a unit while exercising due diligence on by only making payments tagged on progress.

For the benefit of the rest of SK community,Suraya has partnered with Stanchart to provide mortgages for buyers at an attractive interest rate of 13% on reducing balance method. The buyer is required to pay 10% of the price to secure a house before appraisal by Stanchart.

On qualification,Stanchart will disburse funds to Suraya based on progress and charge interest to the buyer. In other words,buyers will finance the development of the project.

Assuming one is taking a mortgage with Stanchart,a minimum residual net income (income after deducting taxes,mortgage repayment,loans,SACCO contributions) of 50% is required. For Lilac (Cost 9.5M) with a repayment period of 20 years,the monthly repayment will be 100K. The minimum net income requirement shall be 200K per month.

reithi

i will check on that bcoz i havent commited yet but intrested.....Now 4 pple on ground are there any other suitable alternatives to this project in terms of location,accesability,and convinience future groth potential etc

pls advice


Every morning a Lion n Gazelle wakes up..The Lion knows it must outrun the slowest gazelle or starve to death,a gazelle knows it must outrun the lion or it will be killed...when the morning comes doesnt matter whether you r a Lion o gazelle you better be running...

Instead of buying a project that is 60% sold out which as a matter of fact is bull crap.

Ask a relative to drive in the neighbourhood that they will be doing the project. They will see more projects that are more than 60% complete in the Ridgeways/arden Estate area and near the windsor golf and country club.

Its been 2 years since suraya collected money for the kiambu road project and all we see is a billboard in a coffee plantation. Now they have gone ahead to advertise another project in juja.

The kiambu road project had a completion date of 2010. I dont see anybody moving in until 2013 if they are lucky.