August 6, 2016
“RA 10884, which amends RA 7279 (Urban Development and Housing
Act of 1992). Though this act was not signed by PNoy, it lapsed into law on
July 17, 2016.
The amended provision are as follows:
1. Section 3 (r): this now includes “socialized condominium or MRBs”.
To be done is the setting of the price ceiling for this new category by
NEDA/HUDCC. In 2012, SHDA have proposed is 840K per unit but this will be
subject for further validation in view of the changes in prices of land,
construction materials and labor. This will allow in-city projects.
2. Section 18: on balanced housing development: socialized
housing compliance for HORIZONTAL development is reduced from 20% to 15% while
VERTICAL development will now have a socialized housing compliance of 5%. This
means that all condominium projects will have to comply with socialized housing
requirements even they will not avail of incentives.
3. Section 20: incentives for private sector participating in
socialized housing. The clarification provided herein that “a socialized
housing certification issued by HLURB shall be sufficient for the purpose of
availment of tax exemptions”, is aimed at addressing the concern on BIR ruling
requirements.”
Courtesy of : www.facebook.com/BuildingCode.Ph
____________________________________________________________________________________
