G.R. No. 160395 - LAND BANK OF THE PHILIPPINES , vs. PLANTERS DEVELOPMENT BANK. R E S O L U T I O N - Supreme Court E-Library

Ruling

WHEREFORE, in view of the undisputed testimonies of the witnesses, which this Court finds justified and reasonable based on certain factors such as the selling price of neighboring properties and the 1994 Assessor's schedule of values of agricultural lands in Palauig, Zambales, judgment is hereby rendered: a) Setting aside the valuation made by the DAR and the Land Bank of the Philippines of the lands described in TCT No. T-28061 (now T-38758) and T-28064 (now T-38760) which are acquired by the DAR under a compulsory process of acquisition; b) Setting aside the decisions or resolutions of the Department of Agrarian Reform Adjudication Board (DARAB) which were based on the valuation made by the Land Bank of the Philippines; c) Fixing the valuation of the expropriated portions at P2.50 per square meter based on the current fair market value. SO ORDERED.