Freezing the Prices of Lands in Metro Manila at Current Market Value
Presidential Decree No. 1640, issued on September 21, 1979, mandates the freezing of land prices in Metropolitan Manila at current market values to prevent unreasonable price increases. This action supports the government's urban land reform initiatives, as outlined in Proclamation No. 1893, and aligns with the constitutional goal of promoting social justice and equitable property ownership. Violations of this decree are subject to penalties as specified in Presidential Decree No. 1517. The decree took immediate effect and was officially published on November 12, 1979.
Quick Answers
- What is Freezing the Prices of Lands in Metro Manila at Current Market Value about?
- Presidential Decree No. 1640, issued on September 21, 1979, mandates the freezing of land prices in Metropolitan Manila at current market values to prevent unreasonable price increases. This action supports the government's urban land reform initiatives, as outlined in Proclamation No. 1893, and aligns with the constitutional goal of promoting social justice and equitable property ownership. Violations of this decree are subject to penalties as specified in Presidential Decree No. 1517. The decree took immediate effect and was officially published on November 12, 1979.
- What type of law is Presidential Decree No. 1640?
- Freezing the Prices of Lands in Metro Manila at Current Market Value (Presidential Decree No. 1640) is a Philippine Presidential Issuances enacted by the Congress of the Philippines.
- When was Freezing the Prices of Lands in Metro Manila at Current Market Value enacted?
- Freezing the Prices of Lands in Metro Manila at Current Market Value (Presidential Decree No. 1640) was enacted on Sep 21, 1979.
- What is the citation for Freezing the Prices of Lands in Metro Manila at Current Market Value?
- Freezing the Prices of Lands in Metro Manila at Current Market Value, Presidential Decree No. 1640, Sep 21, 1979 (Philippines)
Law Information
- Reference Number
- Presidential Decree No. 1640
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Presidential Decrees
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
September 21, 1979
PRESIDENTIAL DECREE NO. 1640
FREEZING THE PRICES OF LANDS IN METROPOLITAN MANILA AT CURRENT MARKET VALUE
WHEREAS, Section 6, Art. II of the Constitution reads
"Sec. 6. The State shall promote social justice to ensure the dignity, welfare, and security of all the people. Towards this end, the State shall regulate the acquisition, ownership, use, enjoyment, and disposition of private property, and equitably diffuse property ownership and profits." aisa dc
WHEREAS, under Proclamation No. 1893, Metropolitan Manila was declared an urban land reform zone to prevent the unreasonable rise in the prices of lands in the area; and
WHEREAS, to effectively carry out the aims and objectives of the urban land reform program in Metropolitan Manila, it is necessary to freeze the prices of lands until appropriate guidelines, rules and regulations shall have been adopted pursuant to Presidential Decree No. 1517 which proclaimed urban land reform in this country.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me under Section 6, Article II of the Constitution, do hereby order and decree. cdt
SECTION 1. Any provision of law to the contrary notwithstanding, the prices of lands within Metropolitan Manila, shall until further orders be frozen at current market value determined in accordance with Presidential Decree No. 76, as amended, and other pertinent laws, decrees, rules or regulations.
SECTION 2. Any person who violates this Decree shall suffer the penalty provided under Section 21 of Presidential Decree No. 1517.
SECTION 3. This Decree shall take effect immediately.
DONE in the City of Manila, this 21st day of September, in the year of Our Lord, Nineteen Hundred and Seventy-Nine.
Published in the Official Gazette, Vol. 75 No. 46 Page 9273 on November 12, 1979.
Cite This Law
Freezing the Prices of Lands in Metro Manila at Current Market Value, Presidential Decree No. 1640, Sep 21, 1979 (Philippines)
Freezing the Prices of Lands in Metro Manila at Current Market Value, Presidential Decree No. 1640 (Phil. 1979)
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