Country’s real estate developers to be registered as govt

20Jan 2017
The Guardian Reporter
The Guardian
Country’s real estate developers to be registered as govt

AS government moves to regulate the chaotic real estate industry, developers and their assets will soon be required to register their property.

Minister Lukuvi speaking in Dar es Salaam recently

Minister for Lands, Housing and Human Settlement Development William Lukuvi, said this recently that after the Real Estate Development Act comes into effect, developers will be required to register property in a special registry.

“The law will have provisions that require property owners to register their assets in the special registry to facilitate payment of various transfer fees and taxes,” Lukuvi said who revealed that a bill to that effect has already been developed.

“It will safeguard interests of all stakeholders, landlords and tenants but also the government,” he stressed. Several other pieces of legislation will also have to be amended while the 1995 National Land Policy is overhauled to meet demands of the modern day industry. “Also the Human Settlement Development Policy will have to undergo changes,” he stressed.

The Minister pointed out that the new system will likely start operating this year as the Real Estate Development Act is due for parliament soon. Lukuvi further said most of the real estate management at his ministry is being handled by an advanced electronic systems for efficiency.

On Property valuation, he said, reports on 9,047 properties have been prepared and approved for various uses such as payment of government levies and fees for various transactions, land ownership transfer permits, among others.

Lukuvi further noted that government is currently holding talks on adopting new technology that will help in constructing better and affordable houses because currently most houses are not affordable hence deny low income earners access to decent homes.

“As a country we are yet to fulfil the demand of building affordable houses, plans are underway to make sure that such houses are built,” he stressed while noting that records at his Ministry show that to date a total of 17,132 real estate projects are being implemented.

The projects include National Housing Corporation’s 52 projects involving construction of 8,165 structures by December 2016. NHC has completed 27 projects with construction of 2,034 structures including residential houses, apartments and commercial complexes were completed while 25 projects with 6,131 structures are under construction.

Watumishi Housing Company (WHC) is proceeding with the construction of 701 houses in various regions of the country for low income public workers in Dar, Morogoro and Mwanza.

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