Grand Auction ‘Akamba’ plot in Machakos valued at Sh20 million, and it’s not even quarter acre

  • Published:

A land valuation in Machakos by the government has caused a public outcry.

It’s slightly over one-quarter of an acre. It is in Machakos, not one of the most-expensive towns in the country. But, believe it, the 0.182-acre parcel of land, with a single-story building, some shops at the front and a garage at the rear is going for… wait for it, whopping  Sh20 million!

The plot located in Machakos town is situated opposite Machakos Town Bus Park Along Ngei Road. It measures (0.0743ha) or (0.183531 Acre).

The valuation of the plot by the government is Sh20 million and it is this value that has caused such consternation among the public.

Going by the government valuation for the property in Machakos, an acre of land in the area would be an estimated Sh110 million.

This is significantly higher than the price of an acre of land in Loresho, Sh77 million, Kitisuru Sh74.7 million, Karen Sh50.5 million and Runda Sh74.3 million according to a report by Hass Consultant on land prices for the first quarter of 2016.

play Akamba Buses in the past (Courtesy)

 

The plot being auctioned belongs to the Akamba Public Roads Services which is in liquidation and the government’s Official Receiver is the liquidator.

Even with this, the valuation still does not add up and has sparked of conspiracy fears. Many view the base price has been set to put off prospective buyers or to scheme or it is a scheme to get more money than what is offered.

The most expensive land prices are in Upper Hill Nairobi where the Hass report placed the average price of an acre at 510 million shillings.

The demand for commercial plots in the area, scarcity of land, prime strategic location, amenities and other factors explain the price unlike the piece being auctioned by the governement.

Subscribe to the Pulselive Newsletter!
Do you ever witness news or have a story that should be featured on Pulse Live Kenya?
Submit your stories, pictures and videos to us now via WhatsApp: +254708994405, Social Media @pulselivekenya: #PulseLiveEyewitness & DM or Email: eyewitness@pulselive.co.ke.

Top 3

1 Hustle 6 reasons why entry level jobs are terriblebullet
2 Saving Tips 6 ways to save money eating outbullet
3 Money in marriages 4 risky financial mistakes couples make and what...bullet

Money