G.R. No. 160890 - BANK OF THE PHILIPPINE ISLANDS, VS. COURT OF APPEALS AND NATIONAL POWER CORPORATION.DECISION - Supreme Court E-Library

Ruling

Accordingly, on February 26, 1999, the Commissioners submitted its Report which assessed the sum of the area of the property taken and the estimated value of just compensation at 75.34 square meters x P10,000.00 = P753,400.00, and recommended an additional payment of P524,660.00 as severance damage, or a total of P1,278,060.00. [9] Likewise, they submitted an undated Commissioners Valuation Report citing the Market Data Approach as the method used in arriving at the amount of P10,000.00 per square meter as just compensation, whereby the value of the land is based on sales and listing of comparable property registered within the immediate vicinity. [10] On August 5, 1999, the trial court rendered judgment in favor of BPI, the dispositive portion of which reads: WHEREFORE, judgment is hereby rendered declaring that the portion of the parcel of land situated in Bucal, Dasmariñas, Cavite, embraced in, and covered by, Transfer Certificate of Title No. T-292517 of the Registry of Deed of Cavite consisting of 75.34 square meters to have been lawfully expropriated and now belongs to the plaintiff to be used for the construction and maintenance of its Dasmariñas-Zapote 230 KV Transmission Line Project. The plaintiff is hereby ordered to pay to the defendant, through the Branch Clerk of this Court, the fair market value of the property at P10,000.00 per square meter or a total sum of P753,400.00 with legal rate of interest reckoned from the date of possession by the plaintiff. The commissioners fee is hereby fixed at P10,000.00 each to be paid by the plaintiff through the Branch Clerk of this Court. The Clerk of this Court is ordered to have a certified copy of this decision be registered in the office of the Register of Deeds of Cavite. SO ORDERED.