Philippine Government Support and Housing Development Quiz
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Questions and Answers

What factors should be considered in the price structure of a condominium project development?

  • Marketing strategies, open market value, neighboring project location
  • Contingencies, medium-cost housing, current appraised fair market value
  • Taxes, licenses, and insurance, percentage of marginal profit, socialized housing participation
  • Acquisition cost of raw land, development cost, administrative expenses (correct)

    • What is the maximum ceiling price for the land and land development costs?

  • P1,800,000 (correct)
  • P2,500,000
  • P4,000,000
  • P1,320,000

    • What are the prices for 27 square meters in the socialized housing category?

  • P1,227,273
  • P933,320
  • P1,620,000
  • P1,145,438 (correct)

    • What is the price difference between the economic housing cost in 2015 and 2022?

    <p>Php800,000</p> Signup and view all the answers

    What does RA 7279 aim to provide?

    <p>Decent housing at affordable cost to underprivileged and homeless citizens in urban areas</p> Signup and view all the answers

    What are the incentives for mass housing under RA 11534/CREATE ACT?

    <p>Income tax holidays and enhanced deductions</p> Signup and view all the answers

    What is the price ceiling for mass housing under the government’s 2022 Strategic Investment Priority Plan?

    <p>P3,000,000</p> Signup and view all the answers

    What is required for condominium development?

    <p>Application for Development Permit, Certificate of Registration, and License To Sell with the DHSUD</p> Signup and view all the answers

    What does condomization involve?

    <p>The execution of a Master Deed and registration with the Register of Deeds</p> Signup and view all the answers

    What are the general steps for condomizing a property?

    <p>Finalization of building plans, organization of a Condominium Corporation, and submission of building plans to the assessor’s office</p> Signup and view all the answers

    What are the specific requirements for condominium plan application?

    <p>Site development plan, building specifications, zoning certificate, and certified true copies of title and tax receipts</p> Signup and view all the answers

    How long is a Development Permit valid for if no physical development is introduced?

    <p>3 years from date of issuance</p> Signup and view all the answers

    What are the incentives for private sector participation in socialized housing?

    <p>Reduction and simplification of requirements, creation of one-stop offices, and tax exemptions</p> Signup and view all the answers

    What is the main basis for determining affordable cost according to RA 7279?

    <p>The needs and financial capability of Program Beneficiaries</p> Signup and view all the answers

    What are the requirements for condominium plan/development permit application?

    <p>Adherence to the Comprehensive Land Use Plan, zoning ordinance, and submission of various documents and certifications</p> Signup and view all the answers

    What is the amount of the performance bond required for unfinished portions of a project?

    <p>20% of the development cost</p> Signup and view all the answers

    What is the specific information required in the registration statement for brokers and salesmen?

    <p>Personal and professional background</p> Signup and view all the answers

    What is the minimum level of development required for the issuance of a license to sell?

    <p>Conditions for the issuance of a license to sell vary</p> Signup and view all the answers

    What is the type of bond required for brokers and salesmen?

    <p>Surety bond</p> Signup and view all the answers

    What is the need for a work program signed and sealed by a licensed engineer or architect for the program of development?

    <p>To guarantee completion of the project</p> Signup and view all the answers

    What is the possibility of cancellation and release of the bond by a dealer, broker, or salesman?

    <p>Cancellation and release are both possible</p> Signup and view all the answers

    What is required for obtaining an extension of time to complete a development project?

    <p>Both valid reasons for delay and payment of a fee</p> Signup and view all the answers

    What is the expiration date of the certificate of registration for brokers and salesmen?

    <p>3 years from the date of issue</p> Signup and view all the answers

    What are the conditions for not requiring bonds if equivalent bonds or securities have been posted with other government agencies?

    <p>Conditions vary depending on the project</p> Signup and view all the answers

    What are the requirements for obtaining a license to sell for subdivision or condominium projects?

    <p>Submission of a Certificate of Guaranty Deposit or a letter from a bank for the total development cost</p> Signup and view all the answers

    What is the possibility of not requiring bonds if equivalent bonds or securities have been posted with other government agencies?

    <p>This is possible for certain types of projects</p> Signup and view all the answers

    What are the details of the requirements for broker registration, including the application process and renewal?

    <p>Both the application process and renewal process are specified</p> Signup and view all the answers

    What is the timeframe within which a person must file a claim with the Board against a dealer, broker, or salesman for money or property?

    <p>15 days from the date of publication</p> Signup and view all the answers

    In what timeframe should semi-annual reports on operations for registered subdivision or condominium projects be submitted to the Board?

    <p>60 days after the end of each semester</p> Signup and view all the answers

    What is the requirement for displaying the Certificate of Registration and License to Sell issued by the Board?

    <p>Display in the principal office and a Xerox copy in all branches</p> Signup and view all the answers

    What is the timeframe within which a request for transfer of ownership or change of name should be published in a newspaper of general circulation?

    <p>Once a week for two (2) consecutive weeks</p> Signup and view all the answers

    What is the requirement for submission of reports on operations for registered subdivision or condominium projects?

    <p>Semi-annual reports</p> Signup and view all the answers

    What should be done upon loss or destruction of a Certificate of Registration or License to Sell?

    <p>Request a duplicate copy from the Board</p> Signup and view all the answers

    What is the timeframe within which sales or conveyances of the subdivision lots and condominium units should be registered?

    <p>180 days from execution</p> Signup and view all the answers

    What is the requirement for a broker or salesman who negotiated the sale of a subdivision lot or condominium unit?

    <p>Must act as one of the witnesses to the sales document</p> Signup and view all the answers

    What is the requirement for altering condominium plans?

    <p>In accordance with the Condominium Act</p> Signup and view all the answers

    What is the requirement for transfer of ownership and/or change of name?

    <p>Publication in a newspaper of general circulation</p> Signup and view all the answers

    What is the requirement for submission of complaints against owners, developers, dealers, brokers, and salesmen?

    <p>Resolution in accordance with the Rules of Procedure</p> Signup and view all the answers

    Study Notes

    Government Support and Housing Development Guidelines

    • RA 7279 aims to provide decent housing at affordable cost to underprivileged and homeless citizens in urban areas
    • Affordable Cost is based on the needs and financial capability of Program Beneficiaries and Appropriate Financing Schemes according to RA 7279
    • Incentives for mass housing under RA 11534/CREATE ACT include income tax holidays and enhanced deductions
    • Mass housing is a part of the government’s 2022 Strategic Investment Priority Plan, with a price ceiling of P3,000,000
    • Incentives for private sector participation in socialized housing include reduction and simplification of requirements, creation of one-stop offices, and tax exemptions
    • Condominium development requires application for Development Permit, Certificate of Registration, and License To Sell with the DHSUD
    • Condomization involves the execution of a Master Deed and registration with the Register of Deeds
    • The general steps for condomizing a property include finalization of building plans, organization of a Condominium Corporation, and submission of building plans to the assessor’s office
    • Condominium plan/development permit application requires adherence to the Comprehensive Land Use Plan, zoning ordinance, and submission of various documents and certifications
    • Development Permit is valid for 3 years from date of issuance if no physical development is introduced
    • Specific requirements for condominium plan application include site development plan, building specifications, zoning certificate, and certified true copies of title and tax receipts
    • Other requirements include environmental clearance, project study, and permits from regulatory bodies such as the National Water Resources Board and Professional Regulation Commission

    Real Estate Development Regulations in the Philippines

    • Requirements for obtaining a license to sell for subdivision or condominium projects
    • The need for a Certificate of Guaranty Deposit or a letter from a bank for the total development cost
    • Conditions for obtaining an extension of time to complete a development project
    • The requirement for a performance bond amounting to 20% of the development cost for unfinished portions of a project
    • Details of the requirements for broker registration, including the application process and renewal
    • The expiration date of the certificate of registration for brokers and salesmen
    • The type of bond required for brokers and salesmen, including the amount and conditions
    • The possibility of cancellation and release of the bond by a dealer, broker, or salesman
    • The specific information required in the registration statement for brokers and salesmen
    • The need for a work program signed and sealed by a licensed engineer or architect for the program of development
    • The conditions for the issuance of a license to sell, including the minimum level of development required
    • The possibility of not requiring bonds if equivalent bonds or securities have been posted with other government agencies

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    Description

    Test your knowledge of government support and housing development guidelines in the Philippines with this informative quiz. Explore topics such as RA 7279, mass housing incentives, condominium development requirements, real estate regulations, and more. Perfect for anyone involved in real estate development or interested in learning about the regulations governing housing projects in the Philippines.

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