Housing Cooperative Society Registration
A society, whose objective is to promote economic interests or the general welfare of its employees or of the public, in compliance with co-operative standards, or a society set up with the object of working with the activities of any such society might be registered under the Act
A co-operative society is the ideal fit for a private structure as flat proprietors have normal requirements like water association, guards, etc. and interests like maintenance of common regions, like the terrace and compound. Assuming you've bought a flat in another building, it would presumably be ideal if you looked into framing a society. The builder may likewise be legally obliged to frame a society. For instance, under Maharashtra Flat Ownership Act, 1963, a builder should shape a society within four months from the date when 60% of the flats are sold.
Registration Process
First general meeting (before registration)
In first gathering under Societies Model Bye Law 3(iii), the Chief Promoter (can also be a builder) is chosen by the promoters, who are individuals co-signing the registration application in the presence of Registering Authority, under Bye-law 3(xii). In this gathering, important resolutions are passed like opening a bank account for the sake of the proposed society and for getting authorization for reserving society’s name. It is necessary for SRA/MHADA recognized societies, for the first gathering to be video recorded.
Registration Application
- The initial step is to hold the proposed name of the Society. Ordinarily, a proposition for the same will be joined by the society goals and signatures of like 10 Promoters who have attended the
- The registrar permits the name and grants consent to open an account in the bank. The Chief Promoter will gather Share Capital, Entrance Fees from each of the promoters and deposit it in the permitted bank’s branch by the Registrar.
- Without prior permission of the Registrar, the sum deposited can't be withdrawn till the society is either registered or is rejected.
- The Chief Promoter ought to submit the registration proposition to the registering authority within a time of 90 days from the date of issue of Letter of Reservation for the sake of the proposed society.
Documents needed for Registration
- 7/12 drawn out of the land or property card.
- Certificate should be obtained from the competent authority concerning non-agricultural land.
- The order concerning applicable/ non-applicable of land ceiling Act
- Construction design should be appropriately endorsed by the competent authority
- Letter of authorization for beginning construction
- Certificate with respect to culmination of construction work
- Development Agreement in case the land is taken to use for development.
- Letter of Power of Attorney concerning land.
- Title search report concerning land
- The registered agreement of acquisition of the flat with obligatory stamp duty paid.
- Architect Certificate with respect to development.
- List stating name of Members.
- Plan of the Society.
- Application concerning reservation of name.
- No less than ten individuals are required for society registration. Then, the public authority gives consent subject to certain conditions for the Housing society of less than 10 individuals by exercising powers. For the registration proposition, it is necessary to get the signatures of 60% of the promoters, who partook in the registration proposal.
- Assuming the land is given by the public authority or undertaking agency of the public authority then, at that point, it's a guarantee
- If land is of some Trust, then obtaining no objection certificate from the charitable commissioner is must.
- Certificate obtained from the competent authority concerning non-agricultural plot.
- While registering co-operative societies recognized by SRA/SRD and MHADA, it is required to complete the required paperwork according to the guidelines given by the authorities by their brochures inclusive of above-mentioned criteria.
- Application concerning Society registration (Form A)
- A chart giving society’s information (Form B)
- Chart providing details of the individuals (Form C)
- Proclamation of Accounts of the Members (Form D)
- Authorized Guarantee letter by the Chief Promoter of the society on the stamp Paper of INR 100.
- Authorized Guarantee letter by the Builder, and Promoter on the Stamp Paper of INR 100.
- Sworn statement of Members (Affidavit of Minimum 10 Promoters)
- Two duplicates of byelaws of the Society allowed by the Commissioner, Co-operator and Registrar, Co-operative Societies and Maharashtra State, Pune.
- Verification of the bank balance of the member promoter (INR 500 for the deposit of each share and INR 100 as admission charge) in the wake of getting consent for reservation in the District Central Co-operative Bank
- Challan of INR 2500 should be made as the Government Treasury Registration charge and INR 50 for the Housing Society of the Backward class.
Registrar’s Approval
Once satisfied with the application, the registrar will register the society by offering a registration certificate. Deciding on the registration of the society is crucial and within a time of two months from the date of the proposition of the society should be submitted to the Registrar.