Ki­ambu reg­is­ters land agents to curb fraud

Nod will be re­quired from the county be­fore trans­ac­tions go through

Business Daily (Kenya) - - MONEY & MARKETS - Mwangi Muiriri mmuiriri@ke.na­tion­media.com Gover­nor Fer­di­nand Waititu. --

Ki­ambu County is set to tighten reg­u­la­tion on prop­erty brokers weeks after it was re­ported as the only Nairobi neigh­bour­hood to record a drop in quar­ter three prices of land.

The county said it will, in the next three months, reg­is­ter all brokers to mit­i­gate against fraud it es­ti­mates at Sh3 bil­lion an­nu­ally.

The move tar­get­ing elimi- buy­ers will be pay­ing the county to ex­e­cute searches

na­tion of brief­case op­er­a­tives comes after Hass­con­sult re­ported prices in the county—pre­vi­ously fast ris­ing—had fallen par­tic­u­larly due to re­stric­tion on con­ver­sion of agri­cul­tural land to real es­tate. Limuru sub-county was hard­est hit with a 5.7 per cent fall.

Gover­nor Fer­di­nand Waititu said this will make it pos­si­ble for the de­volved unit to rein in rogue deal­ers whose only agenda is fraud.

“We are go­ing to reg­is­ter all of them. We want to be aware of your of­fice, the deals you are in, whether those prop­er­ties you are of­fer­ing in the mar­ket are gen­uine. We will as­sume the role of fi­nal author­ity on their au­then­tic­ity,” he said.

Mr Waititu noted that there was an in­crease of court cases touch­ing on land fraud in Ki­ambu.

“Within three months, we will have reg­is­tered all of them and feed the in­for­ma­tion on an e-plat­form. We will be de­mand­ing an up­dated list of prop­er­ties they are plac­ing in the mar­ket and be­fore any trans­ac­tion gets through, we will be giv­ing the go-ahead,” Mr Waititu said.

Po­ten­tial cus­tomers will have a cus­tomer care desk at the county where they will be reg­is­ter­ing the in­tended trans­ac­tions with Ki­ambu prop­erty brokers.

“For a fee of Sh100, we will be ex­e­cut­ing searches for them and fol­low­ing it up with au­then­ti­cat­ing trans­ac­tion doc­u­ments. Land reg­istries are de­volved units and as a county gov­ern­ment, we will bring san­ity in this sec­tor,” he said.

He said mal­prac­tices had threat­ened the lo­cal real es­tate sec­tor for the past five years.

LAND

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