Law against overpricing of land.. meron ba?

[blacksun25]

[SIZE=2]I would just like to inquire if there is such a law that protects us buyers from overpricing of land by condominium/ subdivision developers. I purchased a condo unit, through PAGIBIG, more than a year ago. The Condo Project is located in Quirino Highway, Novaliches, Quezon City. The contract price of my 32 square-meter unit was more or less 700K.

Now I'm actually planning to purchase a parking slot. They currently sell the parking slot at PHP 330,000 or PHP3000 / month if to be rented (parang daig pa Makati sa parking rate .).

The parking area is not actually covered (open parking) and each slot can barely accommodate a full size car. I feel that the price of the developer is a bit steep compared to the actual market value of land on that area and also considering the area is not that "urbanized" yet. And the sad thing about this is that they are giving us, unit owners who didn't purchase parking lots, a hard time entering the condominium grounds with our vehicles and they are strictly enforcing the "NO SLOT NO PARKING" policy which effectively forces us unit owners to buy their slots at a very unreasonable price.

Sana may lawyer dito na makapigbigay ng advise. Thank you.
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[1D4LV]

wala yatang ganyang law. imho. its a free market, ika nga.

[tidus1203]

That's absurd to even think a law exist to prevent land overpricing. Land is bought and sold with the free markets, don't like the price then just walk away.

[ans_lim168]

Yup tama sina Tidus and 1D4LV, if you think the price is out of this world "nananaginip", just walk away and don't but the property, you have a right to buy a property but you also have a right to purchase at a fair price.

[Gumusut_Amige]

even regulated prime commodity items mahirap din kontrolin... yan pa kayang walang pinanghahawakan na law.

just shy away from those sellers who are profiteers
if you can find a buyer for your condo unit better sell it and transfer to other places with better deal

[redorange]

Sell the condo and buy someplace else that has parking included in the price.