Information with regard to your investment in the real estate sector now goes a notch higher after it’s debut on the eCitizen platform. This follows the finalization of the digitization process through at the Ministry of Lands and Physical Planning.
For the Optiven Group through Optiven Limited, this is especially welcome news as it will serve the best interests of our clients both locally and in the diaspora with up-to-the-minute updates on their investments.
Commenting on the new development, Mr. George Wachiuri, the Chief Executive at Optiven Group noted that the move is welcome considering it meets two key aspects that will advise the core areas of focus in 2019. Wachiuri says, “At Optiven Group we are looking at automation and innovation to drive us in 2019 and with the new development with regard to the real estate industry, specifically the sourcing of information for land searches, will serve our customers well”.
His sentiments come on the heels of the launch of the service in Nairobi County at an affordable rate with Mwenda Makathimo, Executive Director at the Land Development and Governance Institute LDGI noting that “the service will greatly help investors do away with brokers.” Makathimo adds that though the digitization of land searches is a step in the right direction, there is still more to be done. He called on the stakeholders to work on He called on the stakeholders to work on making the new system efficient and consistent.
The onus will now fall on companies in the real estate sector to register their property’s details on eCitizen and keep updated records with any changes that take place on the property.
The Ministry of Lands and Physical Planning through the Lands Registry Department will verify the information provided when one registers and uploads property information on the platform with the records they have at hand and the support documentation provided.
Not to be left behind are investors who will also have an opportunity to track the conveyance process via the “Track Application” option. This saves time as one doesn’t have to keep visiting the ministry’s offices or a lawyer to get an update.
Mr. Charles Muraguri, the Director for Projects at Optiven Group singled out the ongoing digitization operations noting that: “due diligence is to be encouraged to safeguard customers and give them peace of mind when making investments in land. At Optiven Limited we are renown for our open nature of doing business and remain accountable to not only our associates and stakeholders, but largely to our customers who are the core of our operations.”
His sentiments were echoed by Mr. Wachiuri who added that : ‘because of our engagement with the clients in terms of accountability, Optiven Limited has been feted over and over again – mainly in Branding and Customer Service – both at the local level and internationally as well’. Wachiuri called on stakeholders in the real estate sector to embrace efficiency and reliability if more investors are to place their money in the sector.
HOW TO VERIFY BEFORE INVESTING
- Identify the land you want in terms of location, size and soil type.
- Get a copy of the land title deed from the seller in-order to facilitate the search, where you fill a search application form submitted with a copy of the title and a processing fee of 520/-
- Redo the search at the county office where the property is located to unearth any unpaid land rates.
- Obtain two land mapsfrom the Land ministry or a local surveyor. One map is usually drawn to scale and the other an overview showing adjacent plots.
- Visit the land together with the seller and surveyor to verify dimensions and presence of beacons to avoid future disputes on land boundaries.
- The law requires the transaction to be in writing so get a sale agreement and legal evidence is important though not mandatory so engage a lawyer.
- Transfer and procure completion documentsat the lands ministry –on provision of the necessary documents and takes two weeks to process a deed.
- Stamping the transfer– you will need to pay Stamp Duty based on the value of land, payable after a valuation of the property is made. This Stamp Duty is payable online via the KRA Itax portal.
Post purchase activity – After a week or two, you as the buyer should do another
So how do you go about searching for your piece of land on eCitizen?
- Log into your eCitizen account
- Select the Ministry of Lands and Physical section
- Select make application
- Fill in the tasks and queries in the different areas including:-
- Transfer of property
- Query and payment of land rates
- Transfer of ownership
- Search of land ownership records
- Caution and/or withdrawal of cautions
To get more details on how you can invest with Optiven Group
Kindly talk to us via:
Mobile: +254 723 400500 / +254 790 300300
Email: email@example.com or firstname.lastname@example.org