Urithi Housing Co-operative Society has officially launched Sh 1.6 million two-bedroom apartments. The apartments, which are located along Kangundo Road, can be co-owned right from the start.
According to the co-operative, the cost of the apartments has been reduced by between 40% and 60%. “Most developers go to the bank to get money to put up the houses, and then they have to factor in interest and their margin on pricing.
But with our concept, we cut out these costs and allow home owners to be part of the development, and this is why we are able to deliver a house at Sh1.6 million,” said the Co-operative society’s Chairman Mr Mainav in an interview.
The chairman also said that the firm has given buyers with the flexibility needed in order to acquire the residences with monthly apartments, which is closer to the amount that would have used when it comes to payment of rent.
The Osten Terrace Gardens apartment project is situated in Joska, which is around 13 kilometers from the Eastern By pass and 600 meters away from the Tarmac road at Joska.
In a year plan, buyers will be expected to make payments o between Sh50, 000 and Sh120, 000 after depositing between Sh200, 000 and Sh1 million. If this model proves to be profitable, the firm has intentions of venturing in other areas in the county.