malaysiangAffordable housing projects are up for implementation in two cities and four towns in Eastern Visayas, targeting to provide houses to 4,120 low-income earners in the region.
The Department of Human Settlements and Urban Development (DHSUD) said the projects are in Ormoc City, MacArthur, Alangalang and Mahaplag in Leyte province; Catbalogan City in Samar; and Guiuan in Eastern Samar.
Local governments are tasked with identifying beneficiaries who can afford to pay the monthly amortization in the six sites covered by the Pambansang Pabahay Para sa Pilipino (4PH) program.
The project is funded by a private housing developer supervised by DHSUD.
‘All these projects have approved designs, and we even have a memorandum of understanding with local water districts to ensure that basic needs of occupants will be provided,’ DHSUD Eastern Visayas Director Michael Victor Tezon said during the Kapihan sa Bagong Pilipinas press briefing here Tuesday.
To avail of a housing unit, a beneficiary must be a first-time home
buyer and a member of Home Development Mutual Fund (Pag-IBIG) for at least two years, have a stable monthly income, without outstanding Pag-IBIG short-term loan or account foreclosed or canceled, and not be more than 70 years old upon loan maturity.
Tezon said each unit costs PHP1.31 million, with the government subsidizing the loan interest of Pag-IBIG.
‘Instead of paying PHP8,000 in monthly amortization, they will only pay PHP3,000 monthly to own the unit. This is cheaper than renting a house. Those earning PHP15,000 monthly can own a house under this program,’ Tezon said.
The Marcos administration’s 4PH program prioritizes high density/vertical development and utilizes both government and private lands.
DHSUD oversees and monitors the implementation of 4PH. It also provides parameters or specifications and extends support and technical assistance to local government units, developers, and other program partners, including facilitating the issuance of development permits and licenses to sell.
Source:
Philippines News Agency
