(NAR) VOL. 22 NO. 3, JULY - SEPTEMBER 2011
"Socialized Housing — refers to housing programs and projects covering houses and lots or homelots only that are undertaken by the government or the private sector for the underprivileged and homeless citizens, which shall include sites and services development, long-term financing, liberalized terms on interest payments, and as such other benefits in accordance with the provisions of Republic Act 7279.
A socialized housing unit shall not exceed P 150,000.00 (now P400,000.00 per issuance of HUDCC Memorandum Circular No. 1, Series of 2008, promulgated on December 11, 2008, as implemented by Revenue Memorandum Circular No. 30-2009 dated May 14, 2009) for a house and lot package, subject to periodic adjustment or increase as the Housing and Land Use Regulatory Board (HLURB) may effect from time to time. In the case of sale of homelots only, the price shall not exceed forty percent (40%) of the maximum limit prescribed for the house and lot package, (underscoring supplied)"