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Beneficiaries of Social Housing Finance Corporation’s High Density Housing (HDH) Program are now eligible of receiving up to P150,000 worth of subsidies for the construction of their five-storey housing buildings and site development of their chosen relocation lots, following the release of  HDH Corporate Circular No. 16-010, which revised several portions of HDH guidelines.

Revisions were made to improve the implementation of HDH, which promotes in-city relocation and resilient settlements for informal settler families (ISFs) residing along the identified danger zones and waterways in Metro Manila.

The revised guidelines have set the ceiling price of the high-rise unit, the community association (CA) plans to construct. A five-storey building’s ceiling pricing is at P600,000, P300,000 for row houses, P350,000 for two-storey units, P375,000 and P400,000 for three and four-storey units, respectively.

Since the maximum loanable amount for HDH is at P450,000 per ISF, SHFC will incur the additional cost of P150,000 for the construction of five-storey units for the qualified CA. These ceilings are subject to review and revision depending on external factors such as changes in the prices of construction materials. 

SHFC will also shoulder the payment of Real Property Tax (RPT) for a period of two years.

Changes on the guidelines for usufruct arrangements were also made. Under a usufruct arrangement, SHFC will allow HDH beneficiaries to use the land for free over a period of 50 years. However, the community may opt to buy the property after five years, provided that they meet the criteria of SHFC, which includes a high collection efficiency rate and their capacity to pay.

Under the new guidelines, all HDH projects amounting to P90 million below are required to undergo usufruct arrangement to temporarily lessen the burden of paying the monthly amortization. SHFC will also be implementing a capacity building program on financial literacy, savings mobilization, and livelihood development to help the beneficiaries secure a stable source of income.

HDH program has assisted almost 21,000 informal settler families since 2013 by granting housing loans worth P2.3 billion. Full details of the new HDH circular are available at
IMPROVED IMPLEMENTATION. Social Housing Finance Corporation released new guidelines to further improve the implementation of High Density Housing Program, which advocates in-city relocation for informal settlers living along major waterways and danger zones in Metro Manila. (File Photos: HDH Projects)