Recreating Pangani Estate with more affordable houses
The Pangani Housing Project is an initiative by the Nairobi City County Government in partnership with Tecnofin Kenya Limited to recreate Pangani Estate in Nairobi.
The project involves building dignified and affordable homes. It is part of the Nairobi City County Urban Housing Renewal Development, and it is in line with the National Government’s Big 4 agenda under the Affordable Housing pillar.
The original Pangani Estate was developed in the 1950s. It accommodated 48 residents on a vast 5.2-acre property. The Pangani Housing Project is increasing the number of units on this property to meet the growing demand for housing in the capital city.
Pangani is strategically located. It is close to various key facilities, including schools, colleges and universities, hospitals, malls, clubs and parks, and a police and a fire station.
Reconstruction of the estate is ongoing. Once complete, the project will have a mix of 1,562 residential units coupled with various commercial amenities to serve the residents.
The project is set to offer exceptional value as a world-class enclave of convenience, affordability and modern living.
- Five-minute drive and a 25-minute walk to Nairobi CBD.
- Easy access to shopping malls and recreational facilities, including TRM, The Sarit Centre, Two Rivers and Garden City malls.
- Proximity to good schools such as the Aga Khan Academy, Herald International School, Oshwal Academy Nairobi, Moi Forces Academy Primary, and Pangani Girls High School.
- Easy and fast access to hospitals like the MP Shah, Aga Khan, Gertrude’s Children Hospital.
- Access to major highways, such as the Thika superhighway, Forest Road, Muranga Road and Juja Road.
- Well-designed stone perimeter walls.
- Beautiful landscaping and green spaces.
- Children’s playground.
- Manned gate with CCTV cameras and 24/7 on ground security.
- A nursery school, dispensary and pharmacy.
- Basement, ground and first floor commercial spaces.
- Internal cabro-paved roads.
- Street lighting.
- Common area generator in case of blackouts.
- Ample parking.
Benefits to home buyers
- Tax exemption on funds deposited under a registered Home Ownership Savings Plan (HOSP), subject to a maximum of Ksh8,000 per month or Ksh96,000 per annum, for 10 years.
- Affordable housing relief of 15 percent of gross emoluments, up to Ksh108,000 per annum or Ksh9,000 per month for Kenyans buying houses under the Affordable Housing Scheme.
- Tax exemption for interest on mortgage repayments up to Ksh25,000 per month or Ksh300,000 per annum, provided that the taxpayer occupies the property.
- Establishment of the Kenya Mortgage Refinancing Company (KMRC). The facility’s main objective is to grow Kenya’s mortgage market by providing long-term funding to primary mortgage lenders. The facility is set to lend money to local financial institutions at an annual interest rate of five percent, enabling them to write home loans at seven percent, six percent points lower than the market rate of approximately 13 percent.
- A waiver on stamp duty for first-time home buyers under the affordable housing programme.
- Allowing the use of 40 percent of accumulated pension benefits for the purchase of a residential house in addition to the previous use of 60 percent as mortgage collateral.
|BEDROOMS||PLINTH (SQMTS)||PRICE (Ksh)||STATUS|
|1-br social house||25||1 million||Sold out|
|2-br social house||45||2.5 million||Sold out|
|3-br social house||60||3 million||Sold out|
|Duplex unit||90||7.5 million||Available|
For enquiries, site visits and bookings, kindly call:
0723 868 786
0713 231 944
0721 792 173
0729 656 366
March 31, 2021 at 3:39 am
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