Adjustment of Price Ceilings for B.P. 220 Housing

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HLURB NO. R-481: Adjustment of Price Ceilings for B.P. 220 Housing

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Title Supreme Court: Adjustment of Price Ceilings for B.P. 220 Housing

Law: Hlurb No. R-481

Decision Date: Mar 20, 1991

The Housing and Urban Development Coordinating Council adjusts the price ceilings for economic and socialized housing projects under the Unified Home Lending Program, establishing new limits of P375,000 for Model A, P240,000 for Model B, P150,000 for Model C, and P80,000 for Model D, effective immediately.

economic housing

socialized housing

A

Legal Basis for the Adjustments

The change is pursuant to Section 3 of Batas Pambansa Blg. 220
It also relates to Section 5 (e) of Executive Order No. 90, Series of 1986
Amended housing loan and interest rate packages under the Unified Home Lending Program support the revisions

Revised Price Ceiling Levels

Model A Project units: price ceiling set to PHP 375,000.00
Model B Project units: price ceiling set to PHP 240,000.00
Model C Project units: price ceiling set to PHP 150,000.00
Model D Project units: price ceiling set to PHP 80,000.00

Effect on Existing Contracts

The resolution explicitly states that the new price ceilings shall not affect contracts already existing prior to the amendment

Amendment to Previous Resolution and Effectivity

Resolution No. R-473, Series of 1990 is amended accordingly
This amendment takes effect immediately upon adoption

Authority and Adoption

The resolution is adopted by the HUDCC
It is signed and endorsed by key government officials from the Department of Justice, Department of the Interior and Local Government, National Economic and Development Authority, Department of Public Works and Highways, and other relevant agencies
The signing reflects inter-agency cooperation in housing program administration

END