How To Buy a Plot in Runda Mumwe – Process, Tips and Checklist
How To Buy a Plot in Runda Mumwe – Process, Tips and Checklist
Runda Mumwe is one of Nairobi’s most exclusive and coveted residential communities under development. For those looking to purchase land in this prime location, here is a detailed guide on how to buy a plot in Runda Mumwe.
Overview
Runda Mumwe is a 78-acre gated development located in Runda, 10km from Nairobi CBD along Kiambu Road between Muthaiga and Ridgeways. Launched in 2015 by developer Home Afrika, it offers 295 spacious plots for custom luxury homes.
Buying a plot in Runda Mumwe allows you to own land in Nairobi’s most prestigious suburb, building your dream home within a master-planned community. This guide covers everything you need to know, from budgeting, process, tips and checklist.
Runda Mumwe Plot Pricing
As a luxury development, Runda Mumwe commands premium prices. Current rates are:
– 1/8 acre – KES 20M-25M
– 1/4 acre – KES 35M-45M
– 1/2 acre – KES 50M-65M
– 1 acre – KES 70M-80M
Budget at least KES 40M-50M for a standard quarter-acre plot. Factor in KES 30M-60M+ for constructing a quality family home.
Financing Options
You can finance an Runda Mumwe plot through:
– Mortgages – From banks, mortgage financiers.
– Payment plans – Home Afrika offers up to 24 month plans.
– Cash savings – Ideal for quicker process.
– SACCO loans – For members of SACCOs.
– Company EPF – If buying through company.
Process of Buying a Plot in Runda Mumwe
The process involves several key steps:
Plot Selection
– Identify available plot numbers and locations suitable for your plans.
– Consider size, positioning, road access, adjoining plots.
– View site plans online or on-site to make informed selection.
Sale Agreement
– Sale agreement signed with Home Afrika as developer.
– Agree on purchase price, payment plan, completion deadline.
– Pay booking fee, normally 10% of total cost.
Payment Processing
– Pay for plot in instalments or lump sum per agreement.
– Use internal funds, mortgage disbursements, company EPF, etc.
– Home Afrika provides monthly statements on payments.
Documentation and Transfers
– Appoint lawyer to oversee documentation, approvals, title transfers.
– Facilitate title search, stamp duty payments, title transfer.
– Provide required documents like IDs, PIN, search results etc.
Physical Possession
– Once paid up, obtain possession certificate from Home Afrika.
– Plot now yours to fence, secure, build on and utilize.
– Construction approval obtained separately from Nairobi County.
Typical timeline is 2-4 months from booking to possession, subject to financing and construction timelines.
Tips for Buying Smoothly
Follow these tips for a smooth purchase process:
– Engage qualified lawyer from start.
– Clarify all terms with Home Afrika upfront.
– Ensure mortgage approved before payment obligations start.
– Process title search and transfers promptly.
– Set realistic payment timelines you can meet.
– Keep communication open with all parties.
– Inspect plot physically before completing.
Checklist of Requirements
Have these ready for buying and owning an Runda Mumwe plot legally:
– Copy of sale agreement
– ID copies of buyers
– PIN certificates of buyers
– Lawyer engaged
– Financing confirmed
– Payment timelines agreed
– Title search done
– Stamp duty paid
– Transfer forms signed
– Possession certificate
– Approvals for construction
– Fencing and security
10 key FAQs on how to buy a plot in Runda Mumwe:
1. What are the plot sizes and prices available in Runda Mumwe?
Plots range from 1/8 acre to 1 acre. Prices are KES 20M-25M for 1/8 acre, KES 35M-45M for 1/4 acre, KES 50M-65M for 1/2 acre and KES 70M-80M for 1 acre plots.
2. What financing options are available for buying Runda Mumwe plots?
Financing can be through mortgages, Home Afrika payment plans, cash savings, SACCO loans or company EPF contributions.
3. What is the process for buying a Runda Mumwe plot?
Key steps are plot selection, sale agreement, processing payments, handling documentation and transfers, and taking possession.
4. What documents do I need for buying a plot in Runda Mumwe?
Required documents include signed sale agreement, ID copies, PIN certificates, title search, stamped transfer forms and possession certificate.
5. How do I identify and select an ideal plot in Runda Mumwe?
Evaluate the site plan and visit the development to choose a plot based on size preferences, location, accessibility and neighboring plots.
6. How much are the taxes, fees and transfer costs for a Runda Mumwe plot purchase?
You’ll need to budget approx. KES 500,000-700,000 for legal fees, stamp duty, title transfers and other charges.
7. How long does the process take to buy and own a plot fully?
Allow 2-4 months from booking to possession. Construction can then take 12-18 months depending on home size.
8. What tips help in buying a Runda Mumwe plot smoothly?
Engage a lawyer early, clarify Home Afrika terms upfront, process titles fast, inspect plot before completion and maintain open communication.
9. When can I start construction on my Runda Mumwe plot?
Construction can begin after full payment, possession, fencing/securing the plot and obtaining Nairobi County approvals.
10. Are there any restrictions on buying or owning Runda Mumwe plots?
There are no restrictions based on citizenship or residency. But financing may be easier for residents/citizens.
Conclusion
Buying land in Runda Mumwe allows you to invest and build your dream home in one of Nairobi’s most exclusive locales. While premium prices are involved, you get an unmatched lifestyle within a serene, secure development managed to high standards. Follow the process, tips and requirements outlined above for a smooth purchase experience.
