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A KADOMA-BASED real estate company, Craft Properties, expects to build 1 573 houses for civil servants worth US$14,9 million in the Holyland high-density suburb in the town by year end. Speaking to Herald Business last week, the company’s general manager, Mr Tapiwa Kanenga, said these are low-cost houses which they hope will present an opportunity for people of various financial backgrounds to own houses.
“The price for each house ranges from US$9 500 to US$13 500 and the prices also vary with the payment plan that is mainly agreeable between the purchaser and the seller while payment plans vary from one individual to the other.
“The value of a single house all depends on the size of the stand as we have various sizes of stands and home designs,” he said.
Mr Kanenga said they had reasonable instalments for the low-income earners in the country.
“The charge is an average of US$147 per month for a period of about 65 months for a property worth US$9 500 while the number of months is mainly determined by the period of payment the client chooses because you would appreciate that there are some levies, interests and taxes involved in any credit facility.”
He added that the project was expected to be complete soon as they had already done their homework and all the stakeholders involved in this project are ready to play their part in making the project a success.
Craft Properties first made an application for the housing project to the City of Kadoma in March 2010 and was allocated 18 hectares of land but after doing the topographical surveys they later discovered that the 18 hectares of land posed various challenges so the company had to re-apply for the land through the Ministry of Local Government, Rural and Urban Development.
It was subsequently allocated 60 hectares of land on subdivision of Stand No. 1 of Subdivision A of Railway Farm 8 Kadoma in September 2012 by the Government.
“Our layout plan No. MWD931, Reference No. MWSL869 was approved in terms of Section 43 of the Regional, Town and Country Planning Act, Chapter 29:12 on June 7 2013,” said Mr Kanenga.
The company was formed in 2008 following a realisation that local authorities were struggling to create more residential stands to the ever expanding population. to ease the existing and anticipated housing problems.
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