Co-op Housing Societies

REGISTRATION OF SOCIETY Society Registration is also known as Society Formation. Housing societies are registered under the Maharashtra co-operative society Act 1960. A society is an association of several individuals combined using a mutual accord to deliberate, govern and act cooperatively for some communal purpose. The main instrument of any society is the memorandum of association and rules & regulations. Minimum of seven managing committee members are mandatory for registration / formation of the society. There is no upper limit for the number managing committee members.

REGISTRATION OF SOCIETY

Society Registration is also known as Society Formation. Housing societies are registered under the Maharashtra co-operative society Act 1960. A society is an association of several individuals combined using a mutual accord to deliberate, govern and act cooperatively for some communal purpose. The main instrument of any society is the memorandum of association and rules & regulations. Minimum of seven managing committee members are mandatory for registration / formation of the society. There is no upper limit for the number managing committee members.

DE - REGISTRATION OF SOCIETY If the Registrar is satisfied that any society is registered on mis-representation made by applicants, or where the work of the society is completed or exhausted or the purposes for which the society has been registered are not served, he may, after giving an opportunity of being heard to the Chief Promoter, the committee and the members of the society may de-register the society: (2)When a society is de-registered under the provisions of sub-section (1), the Registrar may, notwithstanding anything contained in tins Act or any other law for the time being in force, make such incidental and consequential orders including appointment of Official Assignee as the circumstances may require.

DE - REGISTRATION OF SOCIETY

If the Registrar is satisfied that any society is registered on mis-representation made by applicants, or where the work of the society is completed or exhausted or the purposes for which the society has been registered are not served, he may, after giving an opportunity of being heard to the Chief Promoter, the committee and the members of the society may de-register the society: (2)When a society is de-registered under the provisions of sub-section (1), the Registrar may, notwithstanding anything contained in tins Act or any other law for the time being in force, make such incidental and consequential orders including appointment of Official Assignee as the circumstances may require.

BIFURCATION OF SOCIETY The Maharashtra Co-Operative Societies Act, 1960 (Section 17) and the Maharashtra Co-Operative Societies Rules, 1961, provide for division of a Co-Operative Society. Lot of buildings are constructed on the single plot by the Builder. It is responsibility of the builder to form a society and give conveyance to the society after formation of the Society. The builder always avoid to go for the conveyance but every member has right to ask for conveyance of the building/society. Sometimes there are disputes among the members residing in different buildings belonging to the same Society. When buildings are different and society is single there is always a chance of disputes even after bifurcation the disputes with regards to the ownership and maintenance expenses of the open space. This creates an element of lack of confidence amongst the members residing in different buildings.

BIFURCATION OF SOCIETY

The Maharashtra Co-Operative Societies Act, 1960 (Section 17) and the Maharashtra Co-Operative Societies Rules, 1961, provide for division of a Co-Operative Society. Lot of buildings are constructed on the single plot by the Builder. It is responsibility of the builder to form a society and give conveyance to the society after formation of the Society. The builder always avoid to go for the conveyance but every member has right to ask for conveyance of the building/society. Sometimes there are disputes among the members residing in different buildings belonging to the same Society. When buildings are different and society is single there is always a chance of disputes even after bifurcation the disputes with regards to the ownership and maintenance expenses of the open space. This creates an element of lack of confidence amongst the members residing in different buildings.

Redevelopment of Societies Redevelopment is the process of demolishing an existing building altogether and constructing a new one. It is a massive undertaking that requires a highly proactive and careful approach on behalf of the housing society. Let’s dive into the specifics of redevelopment and its many components If your building is at least 25 years old or in dilapidated conditions, structural repair and renovation will only increase its lifespan by 4 to 5 years. Redevelopment is a more feasible and sustainable choice for the long run.

Redevelopment of Societies

Redevelopment is the process of demolishing an existing building altogether and constructing a new one. It is a massive undertaking that requires a highly proactive and careful approach on behalf of the housing society. Let’s dive into the specifics of redevelopment and its many components If your building is at least 25 years old or in dilapidated conditions, structural repair and renovation will only increase its lifespan by 4 to 5 years. Redevelopment is a more feasible and sustainable choice for the long run.

Transfer / Membership of Flat Buying A Resale Home in A Cooperative Housing Society Means the Homebuyer Has to Pay A Membership Fee to The Committee. However, Under the Rule This Fee Is Limited to Rs 25,000. Many Resale Homebuyers in Mumbai Reported That They Were Being Charged More Than the Said Amount. In the Wake of These Complaints, The Commission of Corporation Ruled That the Cooperative Housing Societies in Mumbai Cannot Charge Over Rs 25,000 As Membership Fee.

Transfer / Membership of Flat

Buying A Resale Home in A Cooperative Housing Society Means the Homebuyer Has to Pay A Membership Fee to The Committee. However, Under the Rule This Fee Is Limited to Rs 25,000. Many Resale Homebuyers in Mumbai Reported That They Were Being Charged More Than the Said Amount. In the Wake of These Complaints, The Commission of Corporation Ruled That the Cooperative Housing Societies in Mumbai Cannot Charge Over Rs 25,000 As Membership Fee.

DEEMED CONVEYANCE Deemed conveyance occurs whenn the builder / land owner or the legal heir refuse to co-operate in handling over conveyance certificate to the apartment complex management committtee. in such case, the housing society has to appear before the designated competent authority who will hear the case of both the parties i.e the housing society and the builder and would pass the required order of conveyance. it is a remedial measure obtained by the society against the builder /land owner who does not wish to convey the property sinch he/she sees a commercial gain out of the property in the future . this could include usage of potential FSI for their personal gain.

DEEMED CONVEYANCE

Deemed conveyance occurs whenn the builder / land owner or the legal heir refuse to co-operate in handling over conveyance certificate to the apartment complex management committtee. in such case, the housing society has to appear before the designated competent authority who will hear the case of both the parties i.e the housing society and the builder and would pass the required order of conveyance. it is a remedial measure obtained by the society against the builder /land owner who does not wish to convey the property sinch he/she sees a commercial gain out of the property in the future . this could include usage of potential FSI for their personal gain.

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