The government has introduced new rules for people who want to buy houses under the Affordable Housing Programme. The programme is part of the government’s plan to provide decent and low-cost housing.
One of the new rules is that people who want to buy a house must have a tax-compliance certificate. This is a document that shows that they have paid their taxes to the government. The government says that this rule will make sure that only people who contribute to the Housing Fund can benefit from the programme. The Housing Fund is a pool of money that is collected from workers and employers through a 1.5 per cent monthly deduction from their salaries.
Another new rule is that kenyans who work in the informal sector, such as small traders and farmers, can also join the programme. They will have to register with the Kenya Revenue Authority (KRA) and get a Personal Identification Number (PIN). They will also have to show their ID before buying a house.
The new rules are part of the revised Affordable Housing Bill, which is a law that guides the implementation of the programme. The bill has been passed by the National Assembly and is now waiting for approval by the Senate. The Senate is expected to debate the bill this week.
Some of the changes that the National Assembly made to the bill include removing the 10 per cent deposit rule. This means that people who want to buy a house will not have to pay 10 per cent of the price upfront. Instead, the government will come up with new guidelines on how much people will have to pay as deposits.
The government hopes that the bill will be signed into law by President William Ruto in early March. This will pave the way for the start of the 1.5 per cent monthly deductions from workers and employers. The government says that the deductions will help to raise money for building more houses across the country.
By Newsmedia