Pasig LGU Inks Deeds of Sale to Acquire Land for Building Public Centers
October 27, 2022
Table of Contents
- Other LGU Initiatives for Community Improvement
- Deed of Sale in a Nutshell
- Pabahay Program of the National Government to Mitigate Housing Backlog
Pasig City Mayor Victor Ma. Regis “Vico” Sotto signed Deeds of Sale to acquire two pieces of land to build essential hubs for the betterment of the community in the eastern metropolis.
According to Sotto’s Twitter update, the land in the respective areas of Pasig were sold for a specific amount and will be used for the following purposes:
- NAGPAYONG 25,825 sq.m. x ₱5,500/sq.m. ≈ 142M
- For the expansion of social services (Kanlungan sa Pasig), public park, evacuation site, school annex buildings, and possibly a new school.
- PINAGBUHATAN PROPER 3,352 sq.m. x ₱17,900/sq.m. ≈ 60M
- For school expansion.
“Before I am allowed to make an offer, it goes through our Land Appraisal Committee. We negotiate and try to arrive at the lowest fair price, and then the City Council can authorize payment. Prices here are inclusive of taxes,” the mayor added.
Other LGU Initiatives for Community Improvement
Meanwhile, the Caloocan City government last September 28, 2022, awarded 53 families with lots and deeds of sale for the land where their homes are erected, Manila Bulletin reported.
A total of 166 hectares of land were awarded to the families, and 21 of them were issued with deeds of sale. This initiative is in line with the Camarin 1 and 2 Project of the Housing and Resettlement Office (HARO) and the National Housing Authority (NHA).
Long-term occupants from Barangays 174, 175, 176, and 177 are the beneficiaries of the provisioned land, according to HARO.
HARO Officer-in-charge Noemi Obina said occupants can buy the lots at a low price, and they are given 25 years to complete the payment to the local government of Caloocan.
“Mababa lang po ang hulog, depende sa laki ng lote at pwede itong bayaran sa loob ng 25 years para hindi mabigat. Nais nating mapanatag ang ating mga kababayan na sa kanila na maipangalan ang kanilang loteng tinitirhan,” Obina said.
(Installment price is low and will depend on the size of the lot and this can be paid within 25 years to lessen the burden of the payee. We reassure our people that their lots are under their names.)
Deed of Sale in a Nutshell
A deed of sale is a legal document that proves and records the sale of a certain property. It is written proof that both the buyer and seller have reached an agreement regarding the sale or purchase of real estate. Moreover, it also serves as the protection of both parties if problems arise.
It is the obligation of the seller to pass ownership and turn over the property according to what was agreed upon. If the buyer successfully paid for the property based on the acknowledged purchase price, then they can enter into a Deed of Sale.
There are two types of deed of sale: Deed of Absolute Sale and Conditional Deed of Sale. The Deed of Absolute Sale occurs when an agreement or deal between the parties is fully executed and ownership of the property transfers to the buyer. On the other hand, the Conditional Deed of Sale is a transaction subject to conditions. It means that ownership does not transfer to the purchaser until after a specified period of time.
Pabahay Program of the National Government to Mitigate Housing Backlog
The Marcos administration aims to solve the 6.5 million housing backlog of the country with the Pambansang Pabahay para sa Pilipino Program. This initiative aims to run throughout the president’s term and build one million homes every year, or a total of six million homes.
The official rollout of the housing program kicked off with groundbreaking rites in Bacolod, Iloilo, and Roxas last September.
“The problem with housing has been there for the longest time, but what we want to do is to provide innovative, radical way[s] of doing things,” Department of Human Settlements and Urban Development (DHSUD) officials said at the 30th annual National Developers Convention of Subdivision and Housing Developers Association Inc. (SHDA).
Senate Committee on Urban Planning, Housing and Resettlement Chairman Sen. Joseph Victor “JV” Ejercito said during the National Developers Convention: “I pose this challenge to everyone that we have to take part in this rebuilding especially after the two-year pandemic, which has really affected our economy and the world’s economy […] [I] hope that this time around, we will do it properly – and do it right.”
