Appropriation of Amount for Expropriation of 51 Lots of Grace Park Subdivision in Caloocan City
Presidential Decree No. 1072, issued on January 25, 1977, allocates an additional sum of One Million Two Hundred Thousand Pesos for the expropriation of 51 lots in the Grace Park Subdivision, Caloocan City. This funding is necessary due to a significant increase in the market value of the lots from P35 to P100 per square meter, resulting in a total acquisition cost of approximately P1.85 million, exceeding the previously allocated amount of P645,000. The decree authorizes the National Housing Authority to acquire these lots for resale to the bona fide occupants. The decree takes immediate effect and was published in the Official Gazette on May 9, 1977.
Quick Answers
- What is Appropriation of Amount for Expropriation of 51 Lots of Grace Park Subdivision in Caloocan City about?
- Presidential Decree No. 1072, issued on January 25, 1977, allocates an additional sum of One Million Two Hundred Thousand Pesos for the expropriation of 51 lots in the Grace Park Subdivision, Caloocan City. This funding is necessary due to a significant increase in the market value of the lots from P35 to P100 per square meter, resulting in a total acquisition cost of approximately P1.85 million, exceeding the previously allocated amount of P645,000. The decree authorizes the National Housing Authority to acquire these lots for resale to the bona fide occupants. The decree takes immediate effect and was published in the Official Gazette on May 9, 1977.
- What type of law is Presidential Decree No. 1072?
- Appropriation of Amount for Expropriation of 51 Lots of Grace Park Subdivision in Caloocan City (Presidential Decree No. 1072) is a Philippine Presidential Issuances enacted by the Congress of the Philippines.
- When was Appropriation of Amount for Expropriation of 51 Lots of Grace Park Subdivision in Caloocan City enacted?
- Appropriation of Amount for Expropriation of 51 Lots of Grace Park Subdivision in Caloocan City (Presidential Decree No. 1072) was enacted on Jan 25, 1977.
- What is the citation for Appropriation of Amount for Expropriation of 51 Lots of Grace Park Subdivision in Caloocan City?
- Appropriation of Amount for Expropriation of 51 Lots of Grace Park Subdivision in Caloocan City, Presidential Decree No. 1072, Jan 25, 1977 (Philippines)
Law Information
- Reference Number
- Presidential Decree No. 1072
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Presidential Decrees
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
January 25, 1977
PRESIDENTIAL DECREE NO. 1072
APPROPRIATING THE AMOUNT OF ONE MILLION TWO HUNDRED THOUSAND PESOS TO COVER THE ADDITIONAL AMOUNT NEEDED FOR THE EXPROPRIATION OF 51 LOTS OF THE GRACE PARK SUBDIVISION IN CALOOCAN CITY
WHEREAS, upon petition of the occupants, the defunct People's Homesite and Housing Corporation authorized on November 27, 1964, the expropriation of 51 lots of Block 157, 158 and 159 of the Grace Park Subdivision situated in Caloocan City, totalling 18,427.5 sq. m., and requested the Office of the President the sum of Six Hundred Forty Five Thousand (P645,000.00) Pesos needed to acquire that said lots at P35.00 per square meter. casia
WHEREAS, the Treasurer of the Philippines was able to release the requested sum of P645,000.00 to the National Housing Authority only on February 12, 1976, at which time the market value of the said lots had increased from P35.00 per square meter to an average of P100 per square meter, or a total of P1.85 million, thereby making the amount released to the National Housing Authority inadequate by One Million Two Hundred Thousand (P1,200,000.00) Pesos.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution do hereby order and decree:
SECTION 1. The sum of One Million Two Hundred Thousand (P1,200,000.00) Pesos is hereby appropriated out of the President's Special Operations Funds, to cover the additional amount needed to expropriate the 51 lots of Block 157, 158 and 159 of the Grace Park Subdivision in Caloocan City, for resale to the bona fide occupants therein. cd
SECTION 2. This Decree shall take effect immediately.
DONE in the City of Manila, this 25th day of January, in the year of Our Lord, Nineteen Hundred and Seventy-Seven.
Published in the Official Gazette, Vol. 73 No. 19 Page 3771 on May 9, 1977.
Cite This Law
Appropriation of Amount for Expropriation of 51 Lots of Grace Park Subdivision in Caloocan City, Presidential Decree No. 1072, Jan 25, 1977 (Philippines)
Appropriation of Amount for Expropriation of 51 Lots of Grace Park Subdivision in Caloocan City, Presidential Decree No. 1072 (Phil. 1977)
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