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25
Dec

SOCIETY REGISTRATION

December 25, 2024
SOCIETY REGISTRATION  First general body meeting (before registration) In this meeting under Society’s Model Bye-law 3(iii), the Chief Promoter (could be the builder) is primarily selected by the promoters, who are members co-signing the registration application before the Registering Authority, under Bye-law 3(xii). In this meeting, necessary resolutions are passed like opening the account in...
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25
Dec

WHY A CO-OPERATIVE HOUSING SOCIETY IS BETTER THAN APARTMENT OWNERS ASSOCIATION?

December 25, 2024
WHY A CO-OPERATIVE HOUSING SOCIETY IS BETTER THAN APARTMENT OWNERS ASSOCIATION? 1.            The builder is interested in using the increased FSI which will be awarded by the govt. for that area at any time in future. If the ‘Society’ is formed, then upon the transfer and conveyance of land in favour of the Society, the...
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25
Dec

SOCIETY FORMATION AND HANDOVER PROCESS BY BUILDER

December 25, 2024
SOCIETY FORMATION AND HANDOVER PROCESS BY BUILDER         The Registration process and requirements are governed by Maharashtra State Co-operative Society Act 1960.         To Register Co-op. Housing Society, Minimum 10 member are required.         Less than 10 members Societies are also Registered as per M. S. Govt. Ordinance No. 1094 and 277/14 Dated 10/03/1995. But...
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25
Dec

A COMPLETE GUIDE TO DEEMED CONVEYANCE

December 25, 2024
A COMPLETE GUIDE TO DEEMED CONVEYANCE Most of the flat-owners of the newly constructed Societies/apartments do not have their sale deeds or conveyance deeds. Mostly in the newly constructed buildings, the builders provide for forming a housing co-operative society to which they shall transfer their interest in the property. Then the builders form the society...
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25
Dec

LAWYERS FOR FORMATION OF A NEW HOUSING SOCIETY

December 25, 2024
LAWYERS FOR FORMATION OF A NEW HOUSING SOCIETY   First general body meeting (before registration) In this meeting under Society’s Model Bye-law 3(iii), the Chief Promoter (could be the builder) is primarily selected by the promoters, who are members co-signing the registration application before the Registering Authority, under Bye-law 3(xii). In this meeting, necessary resolutions...
Read More
25
Dec

SOCIETY FORMATION AND HANDOVER PROCESS BY BUILDER

December 25, 2024
SOCIETY FORMATION AND HANDOVER PROCESS BY BUILDER The Registration process and requirements are governed by Maharashtra State Co-operative Society Act 1960.         To Register Co-op. Housing Society, Minimum 10 member are required.         Less than 10 members Societies are also Registered as per M. S. Govt. Ordinance No. 1094 and 277/14 Dated 10/03/1995. But such...
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25
Dec

Conveyance Deed – A Binding Contract

December 25, 2024
CONVEYANCE DEED In case of housing societies the builder/promoters have to ideally create deed of conveyance and hand over it to housing societies that to within 4 months after project completion. However, due to lack of knowledge many builders do not create such documents. There have been cases where builders have later on denied to...
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25
Dec

Laws Applicable to Co-Operative Society

December 25, 2024
Laws Applicable to Co-Operative Society The Cooperative Societies Act, 1912 expanded the sphere of cooperation between its members and provided for supervision by central organization. A cooperative society, which has its object the promotion of the economic interests of its members in accordance with the co-operative principles, may be registered with limited or unlimited liability...
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25
Dec

HANDOVER PROCESS WITH THE HELP OF BUILDER

December 25, 2024
HANDOVER PROCESS WITH THE HELP OF BUILDER The date of handover from builder to the registered owners association is an important day for new apartment owners and all residents. It has to be taken seriously and detailed due diligence must be done when interacting with the builders during this handover process. Once the formal handover...
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25
Dec

ADVOCATES FOR REGISTRATION OF HOUSING SOCIETY:

December 25, 2024
ADVOCATES FOR REGISTRATION OF HOUSING SOCIETY: A co-operative society is the perfect fit for a residential building as flat-owners have common needs (water connection, watchmen, etc) and interests (maintenance of common areas, such as the terrace and compound). If you’ve purchased a flat in a new building, it would probably be best if you took...
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