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{
    "id": 851769,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/851769/?format=api",
    "text_counter": 274,
    "type": "speech",
    "speaker_name": "Sen. Murkomen",
    "speaker_title": "The Senate Majority Leader",
    "speaker": {
        "id": 440,
        "legal_name": "Onesimus Kipchumba Murkomen",
        "slug": "kipchumba-murkomen"
    },
    "content": "―Upon receipt of the notice under subsection (5), the Registrar shall make an order, pursuant to section 76(1) of the Land Registration Act, 2012, prohibiting or restricting dealings with the affected portion of land thereof, until it vests in the acquiring body.‖ This is once that has been declared to be property supposed to be acquired or for purposes of compulsory acquisition. Mr. Temporary Speaker, Sir, how then will you determine the value of land? How will one arrive at the value of land? The reason this section is being provided for is to cure the particular moles that we have at the moment where digression has been left to a commission to think through what the amount is, and how to go about it--- So, to a great extent this law is attempting to ensure that there is criteria for assessing the value of land before it is compulsorily acquired to avoid situations of insider dealings where you have ―insider dealing‖ which is a term used in capital markets. Since you are an officer in Government or a Cabinet Secretary (CS) in infrastructure or a top-notch politician in the party leadership, you have understood the manifesto and you know the mind of the President, the Cabinet and the Government as to which projects they are going to do and when. As a result of that, you quickly rush to Samburu Town and out of nowhere, someone who comes from Elgeyo-Marakwet County or Mombasa, with no interest at all in Samburu Town, rushes to purchase property in Maralal or Kisima towns and suddenly holds for the day because they have insider dealings. They are assured that the government will build the biggest airport, football stadium or electricity project in that area. You then go and acquire that property and come around and say that you want to be compensated. You then realise that people are getting Kshs200 million or Kshs500 million, and it is even impossible to probe these transactions because it is based on a willing buyer-willing seller environment. Therefore, this law or this amendment of Section 107(A) is trying to address the situation on how to determine land value. It states- ―(1) Valuation of freehold land and community land for purposes of compensation under this Act shall be based on the land value index developed jointly by the national government and county government for that purpose and the provisions of this Part. (2) For purposes of this Part ―land value index‖ means an analytical representation showing the spatial distribution of land values in a given geographical area at specific time.‖ Therefore, county and national governments will have an index that will show the general value of property in a particular area, which maybe a ward or a location. This is to mean that plus or minus a certain amount of money, that is what is called a land value index. This index will demonstrate that the cost of land in area ―X,‖ will not be more than this much in a particular period of time. Consequently, when the Government is acquiring land compulsorily and investors are engaging with the Government on a Public Private Partnership (PPP),they will know for sure that when it comes to land as a factor of production, as an impetus of development and as a basis of investment in a particular area, that index will show the The electronic version of the Senate Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor, Senate."
}