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Co-operative Housing Society Registration needs signatures of minimum 51 % of the Promoters (Owners) to form Co-op. Housing Society

After the formation of RERA most of the developers in Maharashtra are following the RERA rules which is a good sign as far as the interest of a flat purchaser is concerned. If RERA rules are followed by both Developers and Flat Purchasers then the intention of both Developers and Purchasers is fulfilled and the Project reaches its Ultimate goal of Satisfying the occupant and occupier.

**Society Registration can be done with or without the help of Builder.

List of documents for registration :

• Form of resolution electing a CP and Promoter and giving them authority for doing certain acts on behalf of the proposed society.
• Application form "A"
• Information in Annexture " A " " B " " C "
• Bye-Law of the Society
• Details of Accounts - Annexture " D "
• Agreement to sale/Sale deed of any one Flat owner

• Sanction/approved building or project Plan (O.C Plan)
• O.C / C.C (Optional)
• Promoter Guarantee in form " Y "
• Builder Guarantee in form " Z "
• Latest 7/12 or City Survey Revenue Record of Land
• NA Certificate / ULC 2 copy
• Scheme
• Advocate Search Report / Title Certificate
• Architect Certificate

Conversion of Association or Apartments into Co-operative Societies Benefits of joining a cooperative housing society

Associations of Apartments are functioning under the Maharashtra Housing (Apartments) Act 1970 while Co-operative Housing Societies are functioning under the Maharashtra Co-operative Societies Act 1960. “The scope of the Co-operative Act is wider than the Apartment Act, registering a Co-operative Housing Society is a matter of law and Being more beneficial in terms of convenience, even though developers have registered Association of Apartments for their benefit, we at Hari om Consultants will convert the Association of Apartments into a Co-operative Housing Society for your benefit. By which the maximum benefit of the residents of the institution will be achieved.

Advantages of Cooperative Housing Society :

• Since the Declaration of Apartment Owners Association is registered unilaterally by the developers, it includes future benefits to the developer, whereas in Co-operative Housing Society, the members' interest is taken care of as majority of the members are allowed to take decisions.
• In Apartment Owners Association, the ownership rights of the members are limited to the flat. Therefore, the ownership of the terrace and other Area remains with the developer, so the developer gets the income from erecting towers, advertising boards and also gets the benefit of additional FSI etc.
• On the other hand, after registering the cooperative society and executing Conveyance, the entire land is owned by the Society, so as the above type of income is received to the Society, it can meet the Common expenses of the Society.
• In the apartment type, as multiple ownership rights are available, a monopoly of one family or an individual may be created in the future, because the right to vote is obtained in multiple ownership rights, on the contrary, in a cooperative Society, even if the size of the apartment is small or large, as everyone has the right to vote, governance can also be done democratically.
• If a member defaults on the maintenance charge, society has the right to intimate the member and can charge interest on the amount or can also apply in co-operative dept for recovery of the Amount.
• When the time comes for redevelopment after the building has fallen into disrepair, in the Apartment Act, the consent of the land owner or his heir must be taken on that land, on the contrary, in a co-operative society, since the land is owned by the society, a decision can be taken by passing a majority resolution in the annual general meeting of all the members.
• Electoral cooperation in the Society can be taken as per the provisions of the law and the state government has control over the election and other processes in the Society.
• The Co-operative Act provides Right and compulsion for audit, thereby detecting errors in accrued expenses, which is not the case in the Apartment Act.
• As above there are many advantages in co-operative housing society which are not in apartment act so even if the apartment owners are registered by the developer under the apartment act by declaration but it can be converted into co-operative housing society with a majority of 51% or more of the members. and we will do it.

Conveyance / Deemed conveyance

Once Society is registered then it is mandatory for the Builder/ Developer to execute Conveyance deed in favour of Society within 4 months after Society Registration. When Conveyance deed is duly registered with Revenue Dept, Name of Builder/ Developer can be replaced on 7/12 extract or Property Card by Society’s name, thus society becomes the owner of the building or structure constructed and the land beneath it and the land fenced by compound wall.

Society then has all the rights of ownership over the land and can take further decisions related to the land with majority passed in AGM or SGM from time to time. If Builder/ Developer fails to do so then there is amendment made by the Maharashtra Government in Maharashtra Ownership Flats Асt, 1963 (MОFА) and provided for the deemed соnveyаnсe in favour of the legal bodies. Maharashtra Ownership Flats Асt, 1963 (MОFА) allows societies to apply for Deemed Conveyance.

Аdvantages of Deemed Сonveyance :

• Getting а legal title аnd ownership of lаnd, develорing rights in the nаme оf the Sосiety аnd tо mаke the entries in the gоvernment reсоrds.
• Sосiety retаins the аdditiоnаl FSI аnd tаke the benefit оf TDR.
• Sосiety саn rаise the lоаns by mоrtgаge.
• Аll соmmerсiаl benefits соmе tо society.
• Рermissiоn frоm planning authorities is possible if the building has to be redevelорed аt а lаter dаte due tо dilарidаtiоn оf the struсture due tо аge оr by eаrthquаke оr аny оther reаsоn.

Committee Election

It is mandatory to conduct elections of the Committee of the Housing Society every five years. We Guide and offer consultation to conduct Elections of Housing societies as per the provisions of Bye laws and Maharashtra Cooperative Societies Act. We conduct the Election process from the submission of Application for election till the result of the society.

Following documents required for Election Process :

• I form
• J form
• Share Ledger
• Share Register
• E1, E2, E3 Forms
• Application for Election Proposal
• Nomination forms
• List of defaulters of the Society

By the Election, the Chairman, Secretary, Treasurer and other committee members are elected. The defaulters of the society can neither contest nor vote in the Elections. We make sure that the elections are conducted as per Bye Laws and MCS Act.

Bye-Laws Adoption :

The Bye-Laws is a constitution of the said society. It is necessary on the part of Society to adopt their Bye-Laws in it's AGM/SGM. Society Bye-Laws tell us the way to run the Society as per the rules. Many times, the Society Committee is unaware of their Bye-Laws Provisions.

In 2014, the new Model Bye-Laws was published by the Co-operative Department. If the Society is following the old Bye-Laws then the Society will be unable to take benefit of the added features mentioned in the 2014 Model Bye-Laws.

We provide service and guidance for the Adoption of the Model Bye-Laws.

• The Bye Laws are adopted with the approval of the members of the society.
• Changes can be made in the bye laws by the majority.

Accounts and Software

Every year it is mandatory to complete Audit by certified panel auditor as per the section 81 of The MCS Act. If committee fails to comply with Bye-Laws provisions penalty can be imposed more over complaint can be registered against Committee members. With our professional guidance, we promise to fulfil all the needs of the society in yearly Audit. We provide both manual and computerised Account maintenance.

Feel free to contact us on.

E-mail : hariomconsultants2011@gmail.com

Contact no : +91 9892103595, +91 9833473538

We provide the most reasonably priced accounting and management software for co-operative housing societies.