Land banking necessary for government projects- Goking

LAND BANKING is necessary for resettlement and other government projects in the future.

This was stressed by Councilor George Goking during the meeting of the City Council committee on finance, budget & appropriations chaired by Councilor Edna Marban-Dahino over discussions on the payment of just compensation for a lot at Patpat, barangay Lumbia.

Councilor Goking said the price per square meter is fair considering that it is a negotiated sale. “P300 per square is enough if the city applies the averaging system of the price,” he added.

It was learned that the transfer fee and capital gains tax will be shouldered by the city government as part of the negotiated sale system. (SP/APDelgra)