Valuation Discrepancy in Tala Development Project Phase 4
National Housing Authority · 2022
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What Happened?
Category: Financial ManagementIssue: Valuation errorThe reported value of the Tala Development Project Phase 4 is higher than what the area and rate would suggest, indicating a possible error.
Why It Matters
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Original Audit Finding Excerpt
"The Tala Development Project Phase 4, located in Caloocan City amounting to P277.864 million, represents a total area of 408,623 sqm. valued at P600 per sqm. based on the market value on April 15, 2010."