38 Questions
What factors should be considered in the price structure of a condominium project development?
Acquisition cost of raw land, development cost, administrative expenses
What is the maximum ceiling price for the land and land development costs?
P1,800,000
What are the prices for 27 square meters in the socialized housing category?
P1,145,438
What is the price difference between the economic housing cost in 2015 and 2022?
Php800,000
What does RA 7279 aim to provide?
Decent housing at affordable cost to underprivileged and homeless citizens in urban areas
What are the incentives for mass housing under RA 11534/CREATE ACT?
Income tax holidays and enhanced deductions
What is the price ceiling for mass housing under the government’s 2022 Strategic Investment Priority Plan?
P3,000,000
What is required for condominium development?
Application for Development Permit, Certificate of Registration, and License To Sell with the DHSUD
What does condomization involve?
The execution of a Master Deed and registration with the Register of Deeds
What are the general steps for condomizing a property?
Finalization of building plans, organization of a Condominium Corporation, and submission of building plans to the assessor’s office
What are the specific requirements for condominium plan application?
Site development plan, building specifications, zoning certificate, and certified true copies of title and tax receipts
How long is a Development Permit valid for if no physical development is introduced?
3 years from date of issuance
What are the incentives for private sector participation in socialized housing?
Reduction and simplification of requirements, creation of one-stop offices, and tax exemptions
What is the main basis for determining affordable cost according to RA 7279?
The needs and financial capability of Program Beneficiaries
What are the requirements for condominium plan/development permit application?
Adherence to the Comprehensive Land Use Plan, zoning ordinance, and submission of various documents and certifications
What is the amount of the performance bond required for unfinished portions of a project?
20% of the development cost
What is the specific information required in the registration statement for brokers and salesmen?
Personal and professional background
What is the minimum level of development required for the issuance of a license to sell?
Conditions for the issuance of a license to sell vary
What is the type of bond required for brokers and salesmen?
Surety bond
What is the need for a work program signed and sealed by a licensed engineer or architect for the program of development?
To guarantee completion of the project
What is the possibility of cancellation and release of the bond by a dealer, broker, or salesman?
Cancellation and release are both possible
What is required for obtaining an extension of time to complete a development project?
Both valid reasons for delay and payment of a fee
What is the expiration date of the certificate of registration for brokers and salesmen?
3 years from the date of issue
What are the conditions for not requiring bonds if equivalent bonds or securities have been posted with other government agencies?
Conditions vary depending on the project
What are the requirements for obtaining a license to sell for subdivision or condominium projects?
Submission of a Certificate of Guaranty Deposit or a letter from a bank for the total development cost
What is the possibility of not requiring bonds if equivalent bonds or securities have been posted with other government agencies?
This is possible for certain types of projects
What are the details of the requirements for broker registration, including the application process and renewal?
Both the application process and renewal process are specified
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?
15 days from the date of publication
In what timeframe should semi-annual reports on operations for registered subdivision or condominium projects be submitted to the Board?
60 days after the end of each semester
What is the requirement for displaying the Certificate of Registration and License to Sell issued by the Board?
Display in the principal office and a Xerox copy in all branches
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?
Once a week for two (2) consecutive weeks
What is the requirement for submission of reports on operations for registered subdivision or condominium projects?
Semi-annual reports
What should be done upon loss or destruction of a Certificate of Registration or License to Sell?
Request a duplicate copy from the Board
What is the timeframe within which sales or conveyances of the subdivision lots and condominium units should be registered?
180 days from execution
What is the requirement for a broker or salesman who negotiated the sale of a subdivision lot or condominium unit?
Must act as one of the witnesses to the sales document
What is the requirement for altering condominium plans?
In accordance with the Condominium Act
What is the requirement for transfer of ownership and/or change of name?
Publication in a newspaper of general circulation
What is the requirement for submission of complaints against owners, developers, dealers, brokers, and salesmen?
Resolution in accordance with the Rules of Procedure
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
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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