How to form a Co-operative Housing Society

GUIDELINES FOR PREPARATION OF REGISTRATION PROPOSAL OF CO-OPERATIVE HOUSING SOCIETY

1. INTRODUCTORY

1. Formulation of a proposal for registration of a co-operative housing society is rather a complicated matter. The basic requirements for registration of a co-operative housing society are not known to several promoters. There are different types of societies such as: (1) Societies in which members desires to purchase or take on lease lands on which building or buildings are proposed to be constructed, known as OPEN PLOT SOCIETIES, (2)Societies consisting of purchasers of flats under agreements entered into with builders under Section 4 of the Maharashtra Ownership Flats (Regulation of the Promotion of Construction, Sale, Management and Tranfer) Act, 1963, Known as FLAT OWNERS SOCIETIES, (3) Societies formed by tenants of the landlords who had constructed the building/ buildings and had let out the flats therein, known as TENANTS SOCIETIES, and (4) Societies formed by allotees of flat in buildings constructed by the Bombay Housing and Area and Development Board known as HOUSING BOARD SOCIETIES. In all these four types of societies, the procedures to be followed for formulation of registration proposals slightly differs. The requirements in respects of each type of co-operative housing societies and need to properly understood by every promotor, charged with the responsibility of getting the society registered. The experience of the Federation is that several prospective promoters, who intend to organise co-operative housing societies of one or the other type are totally ignorant of the procedural details in respect of organisation and registration of societies, with the result that they have to go from place to place to get proper advice and professionals in this line try to exploit the situation and demand exordeavour of the Federation to acquaint the promoters with all the procedural details so that they can themselves prepare registration proposals and save heavy expenditure over exorbiant fees charged by experts in the line for preparing proposals. It is for this purpose our website contains procedural details laid down by Government in respect of the formulation of registration formulation of registration proposals.

II. ELECTION OF CHIEF PROMOTOR AND RESERVATION OF NAME FOR THE PROPOSED SOCIETY.

1. Before a registration proposal of a co-operative housing society of any types mentioned in the introductory paragraph is formulated, it is necessary to elect a Chief Promoter, who is expected to formulate the registration proposals and exercise such powers and carry out such functions as are mentioned in the minutes of the meeting of the promoters of the proposed co-operative housing society. Any of the prospective promoters of the proposed society, interested in promoting the society should call a meeting of such promoters by issuing notice and agenda of the meeting to them well in advance. The draft of the resolutions to be passed at the promoters meeting is given at Annexure l

1. The first item before th emeeting will be election of Chief Promoter. The promoters are expected to exercise great deal of care while electing a Chief Promoter as he would be the key-holder until the society is registered, its first general meeting is held, the Provisional Managing Committee is elected and the material records relating  to the registration of the society are handed over to the Chairman of the Provisional Managing Committee. Instances are not wanting in which certain unscrupulous person got hold of the situation, got themselves elected as a Chief Promoter and acted arbitrarily and created innumerable problems. A Chief Promoter should, therefore, be a man of choice of all the promoters. The promoters should elect such a person as Chief Promoter, whom they are fully confident that he will not act beyond the authority given to him by the meeting of the promoters.

2. The second item for consideration is of proposing name for the proposed co-opertaive housing society. The meeting can propose any name of its choice. However, the possibility of the name proposed by the meeting, having been assigned to some other society already registered or in the formation process cannot be ruled out. The meeting has, therefore, to proposed a few more names.