REPUBLIC OF THE PHILIPPINES Department of Human Settlements and Urban Development National Economie and Development Authority JONT MEMORANDUM ciRcULARNo, 2023-003 SERIES OF 2023 To + ALL CONCERNED SUBJECT : ADJUSTING THE PRICE CEILING FOR SOCIALIZED SUBDIVISION AND CONDOMINIUM PROJECTS WHEREAS, Republic Ac: (RA) No. 11201, otherwise known as the Department of Human Settlements and Urban Development (OHSUD) Act of 2019, mandated the DHSUD to formulate and implement national policies, alans, and programs for housing ‘and urban development that promote equitable access to affordable and. decent housing, especialy for lowincome families and underprvieged sectors, WHEREAS, Section 23 of RA No. 11201 stipulates that the price calling for socialized housing shal. be joint determined, reviewed, and revised by the DASUO and the Natonal Economic and Development Authority (NEDA) at any tm, but not mare than ‘once every {wo (2) years, to align with the prevaling economic conditons, WHEREAS, the current price coling for socialized housing, last adjusted on 27 April 2018 through Housing and Urban Development Coordinating Counel! (HUDCC) Resolution Nos, 1 and 2, safes of2018, establishes a tered pice caling for socialized subdivision and condominium projects, respectively, based on the corresponding minimum floeravea requirements WHEREAS, the esisting price celing for socialized housing no longer responds adequately to prevaiing market condtions, including rising development and construction costs, thereby discouraging the private sector from bulding affordable Rouses for low-income and underprvieged families WHEREAS, to adiress the housing needs of approximately 65 milion Filipino households, a two-pronged approach is necessary, which involves encouraging private sector paricipaton in. constructing socialized housing unite and fully lmplementing the Pambansang Pabahay para sa Pipino Housing (4PH) Program, led ’by DHSUD incolaborationwit is Key Shelter Agencies (KSAs) and local government unis WHEREAS, tne DHSUD, in coordination with the NEDA, has reviewed the existing Brice celing for socializec housing and recommended the adustment of the price cling: Page 10f3WHEREAS, the review and revision of the price celing for socaized subdivision projets considered the éefiiton of socialized housing under Batas Pambansa Bl. 220, cost breakdowns, afordabily studies, and diferent scenarios involving subsisioe and amorization options based on prevaing market conditions, WHEREAS, based on the aforementioned considerations, the OHSUD finds the proposed two-tiered price celing for socialized housing projects reasonable; NOW, THEREFORE, pursuant tothe foregoing and in consideration ofthe pertinent factors, this Joint Memorandum Circulars hereby issued, Section 1. Adjustment cf Price Celling for Socialized Housing Units. The existing Brice ceiling for sociaizes housing units, as provided in HUDCC Resolution Nos. + and 2, sories of 2018, le hereby adjusted Section 2. Price Celling for Socialized Subdivision Projects. The price ceding for Socialized subdivision projects set by HUDCC Resolution No, 1, senes of 2018, Is hereby adjuste to 850,000.00, witha minimum flor area of 26 sqm with aff of at least 50% ofthe base structure, or 32 sqm, subject to existing rules and regulations, Section 3. Price Colling for Socialized Condominium Projects. The tiered price celing for socialized condominium projects set by HUDCC Resoliion No.2 series of 2018, is hereby adjusted based on the minimum for area requitement. as flows “Bullaing [Unit Sizes (eq) | — Price Coli f 2 855.320) 4 Floors 25 71060 591 27 145,436] 22, 760,000 5:9 Floors 25 7.136 364 24237 378 2 4(320,000 oa 2 4(500,000] art 1,620,000. “The foregoing approved pice cling forthe socialized condominium projects does not imclude the land and land development costs, ‘AS such, the DHSUD Secretary has the authority to approve land and land evelopment costs; Proved, however, that the maximum seling price does not ‘exceed 1,800,000 00 Section 4. implementation and Compliance. All developers. stakeholders. and Concemed partes engaged inthe constcton and sale of socialized housing unite shall adhere tothe updated price celing set forth in tis Joint Memorandum Circular ‘They shall strictly comply with the prescebed pricing guidelines. Sedna ore natn oe Sacon Te Repack ao nn ome Page 2013Section 5. Separability Clause. if any provision ofthis Joint Memorandum Circular 's declared invalid or unconstitutional, the other provisions net affected thereby shall remain valid and subsisting Section 6. Repealing Clause. All other executive orders, department orders, Circulars, or memoranda inconsistent with the provisions of this Joint Memorandum Circular are hereby repealed, superseded, or modified accordingly. ‘Section 7. Effectivty. This Joint Memorandum Circular shall take effect fiteen (15) days after its publication in 2 newspaper of general circulation, Leta copy of this Joint Memorandum Circular be served to the Office of the National Administrative Registry. \— || Rose ‘cuzaR ARSENIO M, BALISACAN a Secretary Deparment oftgan Selects and atonal Ezonene tf Dovlpment Urage Barclopment thoy (October 19, 2023) Page 30f3