This case has been cited 1 times or more.
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2012-02-29 |
BRION, J. |
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| The Land Bank of the Philippines (LBP), as the agency vested with the responsibility of determining the land valuation and compensation for parcels of land acquired pursuant to the CARL,[6] and using the guidelines set forth in DAR Administrative Order (AO) No. 17, series of 1989, as amended by DAR AO No. 3, series of 1991, fixed the value of these parcels of land, as follows: Acquired property Area in hectares Value TCT No. T-2872 231.8406 P 910,262.62[7] TCT No. T-2549 254.25 P1,023,520.56[8] When Honeycomb Farms rejected this valuation for being too low, the Voluntary Offer to Sell was referred to the DAR Adjudication Board, Region V, Legaspi City, for a summary determination of the market value of the properties.[9] After these administrative proceedings, the Regional Adjudicator fixed the value of the landholdings at P5,324,549.00, broken down as follows: | |||||