MAGALANG, Pampanga—A surge in land prices in a residential subdivision in Muntinlupa City following the construction of a publicly funded access road to a central business district (CBD) has presented the city government an opportunity to get a share of the unearned windfall gains of landowners. But the city government has overlooked this source of...
Category: Property
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Six state-run schools assigned land in 9,450-hectare ‘smart, green and resilient’ city
NEW CLARK CITY — As a strategy, developers set aside land for a school to make real estate projects attractive to potential residents or investors. This government project in Central Luzon has allotted parcels of land to not one but six educational institutions. The scale of the project may explain the plan to put up...
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Possible giant leap in real property tax alarms Ayala Alabang Village residents
Residents of Ayala Alabang Village in Muntinlupa City have expressed alarm over an increase of up to 4,304% in the value of residential land in the posh neighborhood that will raise their payments of the yearly “amilyar,” or real property tax (RPT). At a public hearing on Feb. 11 in the barangay hall of the...
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Manila’s historic district of Pandacan, once known as ‘Little Italy,’ is in limbo
On March 10, 2015, asserting the primacy of human life and safety, the Supreme Court rejected the appeals of the “Big 3” oil companies Shell, Chevron, and Petron to its November 2014 ruling that they stop operations and relocate from the Pandacan Oil Depot in Manila. The oil companies were given six months to pull...
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PLDT well on the way to building its campus-style HQ in Filinvest City
PLDT has finally acquired a large parcel of land for its campus-style headquarters in the 244-hectare Filinvest City in Alabang, the central business district of Muntinlupa City, CoverStory.ph has learned. The acquisition of the property ended years of on-again, off-again negotiations between PLDT and Filinvest Alabang Inc. (FAI) of the Gotianun family. Currently, the publicly...
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Zonal values of real estate are rising much faster than incomes do
Real estate sellers and buyers and heirs will pay a bigger amount of taxes starting this year in Muntinlupa City, home to swanky subdivisions such as Ayala Alabang and Palms Pointe, as well as the Filinvest City central business district (CBD) and Madrigal Business Park. Zonal values in Muntinlupa rose 14 to 100% effective Jan....
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Zonal values of residential land surging
Zonal values of residential land are rising by up to about 330% in Parañaque City effective Monday, Oct. 2, catching residents and property owners by surprise. The surge is triggering concerns that the high cost of real property in the city will hamper sales and further make homes unaffordable to most people, especially the Gen...
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As amnesty deadline nears, many property heirs unaware of crucial regulation
It’s a race to the finish for heirs scrambling to settle the estate tax for properties they inherited from relatives who died in or before 2017 as the window of opportunity narrows. Heirs can pay the estate tax and beat the amnesty deadline even without a settlement of the estate if they can submit other...
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With amnesty, property heirs can save on costs, avoid aggravation
Those who inherited property from loved ones who died in or before 2017 better avail themselves of the estate tax amnesty while there is still time. The amnesty period is to end on June 14, unless the government extends the deadline anew. An estate tax is a levy on the privilege of transmitting property upon...
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The conglomerate that a ‘sari-sari’ store built
PANGLAO ISLAND, Bohol—A group of companies that grew from a sari-sari store in Bohol’s capital Tagbilaran City has been so dominant in the commercial center business that mall magnates like the Sys, Ayalas, Gokongweis, Gotianuns or Gaisanos have not gained a foothold in the province. Alturas Group of Companies (AGC) is the clear mall king...