REVENUE MEMORANDUM CIRCULAR NO. 49-2024 issued on April 2, 2024, circularizes Joint Memorandum Circular No. 2023-003, Series of 2023, issued by the Department of Human Settlements and Urban Development (DHSUD) and the National Economic and Development Authority.

The price ceiling for socialized subdivision projects set by Housing and Urban Development Coordinating Council (HUDCC) Resolution No. 1, series of 2018, is adjusted to ₱850,000.00, with a minimum floor area of 28 sqm with a loft of at least 50% of the base structure, or 32 sqm, subject to existing rules and regulations.

The tiered price ceiling for socialized condominium projects set by HUDCC Resolution No. 2, series of 2018, is adjusted based on the minimum floor area requirement, as follows:

(Table Here)

The foregoing approved price ceiling for the socialized condominium projects does not include the land and land development costs. As such, the DHSUD Secretary has the authority to approve land and land development costs; Provided, however, that the maximum selling price does not exceed ₱1,800,000.00.