Prices of land set to go up in cities and municipalities as stamp duty rise
Nairobi, April 7 -- Nakuru and Kisumu cities and 81 municipalities have been slapped with a four per cent stamp duty by the government. This means that for any transfer of land and property in these cities and municipalities, the purchaser will be required to pay four per cent of the total value to the government, double the current rate. The government charges a stamp duty of two per cent of the total value of the property for land in rural areas and four for urban centres. In a letter to registrars, Lands Principal Secretary Nixon Korir said the directive takes effect immediately.
"I wish to draw your attention to the said letter with specific reference to the schedule providing the list of all gazetted urban areas and municipalities. ...
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