The city government thru its city mayor has signed the Deed of Unconditional Sale formally acquiring the 157 parcels of land owned by Landbank located in Barangay Payatas.
Following the acquisition, the beneficiary residents will pay the city government for the land they are occupying through a direct sale program at a cost of P3,000/sqm.
Residents expressed gratitude to the city government for giving them security of tenure over the land on which they have lived for over four decades. The city government was able to acquire the property at P209,244.000, a negotiated price from the original P257,070,000.00. The program will benefit 1,518 families.