RMO 30-299 circularizes the relevant portions of HUDCC Resolution No. 1, Series of 2008, approving the adjustment of the price ceiling for socialized housing, as per HUDCC Resolution No. 1, Series of 2008 promulgated on December 11, 2008.
Under HUDCC Resolution No. 1, Series of 2008 promulgated on December 11, 2008increasing the socialized housing loan ceiling of Low Cost Level 1-A had been increased from P300,000 to P400,000.
The newly adjusted price ceiling shall apply to all sales of real properties utilized for socialized housing, as defined under RA No. 7279 otherwise known as "Urban Development and Housing Act", and other related laws such as RA No. 7835 otherwise known as the "Compreshensive and Integrated Shelter Financing Act of 1994" and RA No. 7863 otherwise known as the "Home Guaranty Act of 2000", beginning January 1, 2009.
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