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March 2015
Housing
W
ith the growing demand
for well-located affordable
housing, Inkanyezi will pro-
vide a mix of housing typologies
including sectional title units, free-
hold, Gap market housing, as well as
Finance Linked Individual Subsidy
Program housing (FLISP) for house-
holders earning up to R15 000 per
month as determined by the FLISP
subsidy parameters. The project will
roll out over 2 243 housing opportuni-
ties on completion, whichwill include
housing across the Affordable income
range.
According to Manie Annandale,
Head of Affordable Housing Develop-
ment, Nedbank Corporate Property
Finance, “The developer, Zevoli 208
and the project management team,
the Shield Group, have firmly estab-
lished themselves in the affordable
housing market in the Eastern Cape
and KwaZulu-Natal for delivering
quality housing. Nedbank’s previous
experience with them in Durban and
Port Elizabeth support their track re-
cord. Shield Homes, a division of the
Shield Group, will roll out 327 general
residential affordable housing units
and 77 freehold stands during Phase
One.”
Shield Homes’ market research
has shown that 80% of prospective
buyers in the area work for govern-
ment. A two bedroom sectional
title unit costs from R430 000, two
bedroom free standing house from
R525 000 and a three bedroom from
R595 000 including bond and transfer
costs. Buyers will have a selection of
finishes to choose from such as tiles,
carpets, kitchen and colour finishes.
The development will be rolled out
in eight phases.
“With the scarcity and expense of
available bulk infrastructure (elec-
tricity, water and sewage) there is a
shortage of affordable housing stock
in the region. Inkanyezi is well locat-
ed within close proximity of the King
Shaka International Airport, the Dube
Tradeport, a light industrial economic
node and Tongaat’s Central Business
District, which will all be accessible
to Inkanyezi residents. There are a
number of amenities in the surround-
ing areas, and Inkanyezi has plans for
three parks and recreation facilites,
a crèche, shopping centre, taxi rank,
a multi-use sports field and two new
schools. Inkanyezi will compliment
and integrate with Gandhi’s Hill and
Hambanati. The area is also within
close proximity to industrial parks for
job opportunities.”
It is these details that make the
development attractive to newhome
owners. Road access is currently off
Van Rova Road and the development
will also have access to the existing
Main Road R102 and the N2 high-
way. The development is located on
Inkanyezi
on KZN’s north coast
Nedbank Affordable Housing Development Finance has
providedR28,3million to developer, Zevoli 208, to roll out bulk
infrastructure for Inkanyezi at Tongaat on KwaZulu-Natal’s
north coast sugar belt.