Kayole

Residents watch as houses are demolished at Nyama Villa estate in Kayole, Nairobi on December 18, 2018. 

| Jeff Angote | Nation Media Group

Relief as Kayole homeowners reach deal over disputed land

A Nairobi businessman and homeowners have entered into an agreement, settling the row over the ownership of a 20ha piece of land in Nyama Villa estate, Kayole.

The homeowners, who stood to lose more in a fresh round of demolitions, have come to an agreement with businessman Mike Maina to purchase the land from him to avert the loss.

The agreement is between Muthithi Investment Company for the businessman and Spine Road Gardens Company for the homeowners.

Details show the two parties entered into a 90-days sales agreement on March 9. However, an addendum dated September 15 was later issued after the developers wrote to the investor seeking variation of the payment dates to 60 days after titling of the subdivisions.

According to the sale agreement seen by the Nation, the two parties have agreed on Sh913 million as the purchase price of the entire piece of land that has 304 plots. This translates to an average of Sh3 million per plot.

The 60 days deadline for the payment is set to expire on November 15. The sale agreement states that after the lapse of the deadline, the price of the plots shall be Sh6 million.

Spine Road Gardens has since paid a deposit of 10 per cent. Already, 16 developers who have completed paying the agreed amount have received their title deeds.

The row over the land pitting the investor and homeowners came to the limelight in December 2018 after several houses were brought down following an eviction order. The demolitions were however halted after a government ban across the country.

Spine Road Gardens Chairman Timothy Ndung’u, in an interview with the Nation, said the homeowners are happy to have finally come to an amicable solution on the matter.