Price Ceiling for Socialized Housing Units
- Originally set at P150,000.00 for a house and lot package.
- Adjusted upward to P400,000.00 by HUDCC Memorandum Circular No. 1, Series of 2008, effective as of December 11, 2008.
- This adjustment was implemented in Revenue Memorandum Circular No. 30-2009 dated May 14, 2009.
- The price ceiling is subject to periodic adjustment or increases as may be effected by the Housing and Land Use Regulatory Board (HLURB).
Price Ceiling for Sale of Lots Only (Homelots)
- The price ceiling for homelots (lots only) is set at forty percent (40%) of the maximum limit prescribed for the house and lot package.
- Given the current P400,000.00 ceiling for house and lot packages, the maximum price for lots only is P160,000.00 per lot.
Clarification and Enforcement
- This Circular clarifies the distinction between price ceilings for house and lot packages and for lots only.
- It mandates all concerned parties to adhere to these guidelines.
- Emphasizes the need for wide dissemination and publicity of these rulings.
Legal Authority and Effectivity
- The Circular is issued by the Commissioner of Internal Revenue.
- It is adopted on August 26, 2011.
- The Circular derives authority from the provisions of Republic Act No. 7279 and related implementing regulations and memoranda.