News

Phase II Shareholders’ Meeting

1) Phase 2 members held a meeting on 6/05/2017 at Vumira building, South B. The

management Committee had invited Ms Elizabeth Mungala from NACHU Ltd to come and brief

the members about the Malaa house allocation and the changes in the prices of the houses. Ms.

Mungala gave the sizes of the plots is 25 x 60 feet and gave the new prices for the houses as

follows:

A). Price for the Starter Core Unit (2 rooms)

 Total Price: Kshs 1,250,000.00

 20% deposit Kshs 250,000

 Legal fees Kshs 5,180.00

 Estate Management fees Kshs 11,800.00

NB: Monthly repayment will be Kshs 23,269.00

B). Core Plus one (One bedroom house)

 Total Price: Kshs 1,550,000.00

 20% deposit Kshs 310,000.00

 Legal fees Kshs 5,180.00

 Estate Management fees Kshs 11,800.00

NB: Monthly repayment will be Kshs 28,532.00

C). Two bedroom complete house

 Total Price: Kshs 2,900,000.00

 20% deposit Kshs 580,000.00

 Legal fees Kshs 5,180.00

 Estate Management fees Kshs 11,800.00

NB: Monthly repayment will be Kshs 53,983.00

It’s important to note that all interested members must be ready to pay to NACHU a Loan

application fee of 1% of the loan value and insurance of 0.004% p.a. Ms. Mungala said that the

cost for the houses went up because of some additions that were done: Estate roads, bore holes,

electricity to the site and a common septic tank.

All interested members whose names were forwarded to NACHU and had not saved enough for the

20% deposit according to the three categories above are given one month to top up. They should

also write a commitment letter to request for this extension and hand it to Royal housing office

by 18/05/2017.

2). Phase 3 recruitment is still on-going. Enroll now to get a 40 x 80 feet plot.

3). Our Royal Housing Gardens are encouraged to be faithful with paying their monthly to avoid

5% late penalty.

4). Phase 1 repossession of houses with arrears to start soon. We request members to pay to

avoid this action.