Prospective homeowners have until Friday to express interest in 488 units under the government's low-cost housing project at Ngara in Nairobi.
The units are going for Sh1 million for one-bedroom unit, Sh2 million for two bedrooms and Sh3 million for a three-bedroom unit.
Successful bidders will be required to deposit 12.5 per cent of the value of the chosen unit. One will also be required to commit how they will finance the remaining balance; either to pay cash or mortgage.
Housing Principal Secretary Charles Hinga explained that for those who cannot afford to pay cash, the national government has negotiated a reasonable mortgage deal with various banks, where people can go and inquire for a pre-approval for the balance.
"We have negotiated a good mortgage deal for you with the listed participating banks, visit your preferred bank and ask for a pre-approval for the balance and you are good to go," he said.
The banks include Equity, Co-operative, Absa, KCB, Stanbic, NCBA and HF, which have pledged Sh365 billion worth of mortgages for the affordable housing programme.
This is the first batch of units to be completed under the State's affordable housing scheme. They have since been inspected and handed over to the government.
Mr Hinga said the sale of the units at Park Road will be closed on Friday.
He asked bidders who had registered with the government scheme and identified the specific project to apply for consideration.
"For all those who have registered on BomaYangu and have chosen Park Road specifically as your preferred scheme, kindly note we are closing the sale this coming week," Mr Hinga said on Sunday.
The Park Road, consisting of 1,370 housing units, is the first low-cost housing development by the national government under the Big Four's Affordable Housing Programme.
The PS said that 822 of the housing units will be floated to the public at fixed prices with the remaining 548 reserved for civil servants.
The new units come with social amenities including parking, rooftop gardens, running track, solar water heaters, lifts, perimeter wall and security gate, retail and commercial centre and a safe children's playground.
He explained that for one to purchase a unit at Park Road, they will need to register on the BomaYangu online platform portal with applicants required to be Kenyan citizens with proven ability to buy via a transparent and accountable manner.
"The government will do the allocation according to the constitution, based on gender equity and diversity," he said.
The project sits on 7.9 acres of land and is being constructed by China State Construction Engineering. Before the project, the estate was made up of 48 standalone bungalows constructed during the colonial period.
At the same time, the PS noted at least 26 counties have signed a deal with the national government to construct 2,000 housing units each under the BomaYangu initiative.