By Ma. Elisa P. Osorio (The Philippine Star) Updated May 11, 2010 12:00 AM
MANILA, Philippines - The government has implemented stricter guidelines for the availment of tax breaks for mass housing projects under the Investments Priorities Plan (IPP).
The Board of Investments (BOI) earlier wanted to remove the mass housing component of the IPP but at the behest of a government agency, it was returned after twin typhoons Ondoy and Pepeng hit the metropolis.
A new qualification was inserted in the proposed 2011 IPP guidelines. In the proposal all low cost mass housing projects are required to comply with the 20-percent requirement for socialized mass housing through the development of new settlement, slum upgrading, joint venture with government, participation in community mortgage program, housing density of 100 units per hectare or other models allowed.
The slum upgrading or renewal of areas for priority development must be done through zonal improvement programs or slum improvement and resettlement programs.
In order to qualify under the mass or socialized housing project, the cost of the housing units shall not exceed the amount for socialized and low cost housing as set by the Housing and Urban Development Coordinating Council (HUDCC).
Also there must be minimum of 20 livable dwelling units in a single site or building.
For the horizontal housing projects, the land development components for housing sites must contain provisions for road system, drainage system, water supply system and sewage system. The mass housing projects must be located in areas zoned and classified for residential use.
For the vertical mass housing projects, at least 51 percent of the total floor area excluding common facilities and parking, must be devoted to housing.
Projects that have already been completed and have incurred sales of housing packages shall not qualify for tax breaks.
No comments:
Post a Comment