Some of the members of Kamuthi Housing Cooperative Society after they were given title deeds last Saturday at Kamuthi headquarters in Kahawa West.A total of 1000 members were given tittles deeds.Many more will be given their titles next month. [PHOTO: KAMAU MAICHUHIE].
Members of Kamuthi Housing Cooperative Society have started to receive title deeds for their land in Thika after years of waiting.
The members are expected to be part of a housing project that is coming up in the area. The project is dubbed Buffalo Hills and Golf Village.
In 2016, the members almost lost the 1,200 acres of land after Sidian Bank threatened to sell it over a Sh420 million loan it was owned by the Sacco.
Members had to contribute Sh80, 000 each to bail out the Sacco.
Speaking on Saturday at Kamuthi headquarters in Kahawa West, the Sacco chairman Bernard Maina said he was happy that the Sh3 billion housing project would go on as planned.
Mr Maina said the Sacco targeted to issue 1,000 tittle deeds in the next one month.
“I want to thank our members for stepping in to salvage the situation by agreeing to top up their contributions by a further Sh80,000,” said Maina
“This allowed us to restore our relationship with Sidian Bank.”
On top of the Sh80,000 members also paid Sh48,500 for title processing.
Build infrastructure
Thika Sidian Bank branch manager Patrick Wachira told members who are yet to pay the Sh80,000 top up fee to do so, since no title will be processed without the money.
“I also urge those who have been given titles to use them as collateral and take up loans to construct their own homes,” Mr Wachira said.
Sacco secretary Eliud Njoroge called on both the Government to assist in putting up infrastructure like roads and water connections so that the project can be developed first.
