
REVENUE MEMORANDUM CIRCULAR NO. 30-2009 issued on June 3, 2009 circularizes the relevant portions of HUDCC Resolution No. 1, Series of 2008 promulgated on December 11, 2008, approving the adjustment of price ceiling for socialized housing.
The newly adjusted price ceiling of P 400,000 for socialized housing shall apply to sale of real properties utilized for socialized housing, as defined under Republic Act (RA) No. 7279 otherwise known as “Urban Development and Housing Act”, and other related laws such as RA No. 7835 otherwise known as the “Comprehensive and Integrated Shelter Financing Act of 1994”, and RA No. 8763 otherwise known as the “Home Guaranty Act of 2000”, beginning January 1, 2009.
All revenue issuances with provisions specifically mentioning the old price ceiling of socialized housing units such as Revenue Regulations (RR) No. 2-98, as amended by RR No. 17-2001 and RR No. 16-2005, are amended or modified accordingly.