The Home Development Mutual Fund or Pag-IBIG Fund has reappraised Capitol-owned lots in Brgy. Tunghaan, Minglanilla currently occupied by the Sugbo-Gawad Kalinga Village at P9,800 per square meter.
Pag-IBIG Fund business development manager Paulino Talacay disclosed the reappraised value in a meeting with Gov. Gwen Garcia and Gawad Kalinga representatives on Monday, May 29.
The state-run agency reappraised their properties based on prevailing fair market value and both agreed to the new lot valuation.
A total of 100 homeowners currently occupying the property would be paying their dues to the Provincial Government through a housing loan with Pag-IBIG. The agency will pay the Capitol the sum of the lot sale.
The arrangement will have payment terms that span about 30 years, giving the concerned homeowners more leeway to pay their loans.
Each homeowner occupies about 42 sq.m each.
The Sugbo-GK Village, originally a relocation site developed by Gawad Kalinga, currently occupies 1.1 hectares of this Capitol property in Minglanilla.
This is also where the Tunghaan Minglanilla Subdivision Project of the Provincial Government is located.
To recall, Capitol has also engaged Pag-IBIG in reappraising the value of other concerned Capitol-owned lots currently occupied by residential owners in OPPRA and Brgy. Apas. | Carlo Lorenciana