What does Housing Cooperative Society Registration mean?
Registration under this act can be obtained in case where the purpose of the society is to promote the economic interest or the public welfare as per the principles of the co-operative or a society established with the object of facilitating the operations of any such society.
A cooperative community is the great fit for a residential building because flat holders have shared requirements such as water supplies, watchmen, etc. and responsibilities such as the preservation of common areas such as a terrace and a garden. It would be best to form a society in case you bought a flat in a new building. Statutory Obligation can be enforced to form a society. A builder is required to form a society within a period of 4 months of selling 60% of the flats in case of Maharashtra Flat Ownership Act, 1963.
What are the steps for registration?
Before obtaining the registration general body meeting is required to conduct:
Promoters are the members who co-sign the registration application before the Registering Authority under Bye-law 3(xii) and appoints the Chief Promoter (could be the builder).
The appropriate resolutions were implemented at this conference, such as opening a bank account in the name of the proposed company and receiving approval to assign the name of the company. It is compulsory for SRA / MHADA approved organizations to document the first meeting on camera.
What application for registration is to be filed?
The first move is to hold the current name of the Society. A application for the same shall usually be followed by the business resolutions and the signatures of at least 10 promoters who have taken part in the conference shall be required.
Name of the organization and authorization regarding opening the bank account is granted by the registrar. Share capital, Entrance Fees from all the promoters is collected by the Chief Promoter and the same is deposited into the branch of bank which is permitted by the Registrar.
Until the society is registered or its registration is refused, the deposited amount cannot be withdrawn by the society without prior approval of Registrar.
Within a period of 3 months from the date of issuance of Letter of Reservation, the Chief Promoter should submit registration proposal to the registering authority.
Which documents are required to submit while taking registration?
- 7/12 extract of the land or property card.
- Certificate concerning non-agricultural land from the competent authority
- The order of applicable or non-applicable of land ceiling Act
- Construction layout duly approved by the competent authority
- In order to start construction, letter of sanction
- Certificate regarding completion of construction work
- Development Agreement if the land is taken for development
- Land’s Letter of Power of Attorney
- Land’s title search report
- The registered agreement of purchases of the flat with necessary stamp duty paid
- Architect Certificate regarding construction
- List of Members
- Society’s Scheme
- Application for reserving name
- At least ten members are required to register the company and whereas the Government has granted permission, subject to certain conditions, to the Housing Society of fewer than 10 members by exercising powers. For the registration request, it is appropriate to register sixty percent of the supporters who engaged in the registration proposal..
- Guarantee letter where the land is given by the government or undertaking agency of the government.
- Where the land is of trust, No objection certificates from the Charitable Commissioner is required to be submitted.
- Certificate of the competent authority regarding non-agricultural plot
- When registering SRA / SRD and MHADA recognised Co-operative Housing Corporations, it is compulsory to hold the necessary documents in compliance with the instructions provided by the authorities, in addition to the above requirements, by their circulars.
- Application for Registering Society (A form)
- Table giving information of society (B Form)
- Table giving details of the members (C Form)
- Statement of Accounts of the Members (D Form)
- Notarized Guarantee letter by the Chief Promoter of the society on the stamp Paper of Rs. 100/-
- Notarized Guarantee letter by the Builder, Promoter on the Stamp Paper of Rs. 100/-
- Affidavit of Members (Affidavit of Minimum 10 Promoters)
- Two copies of bye-laws of the Society approved by the Commissioner, Co-operation and Registrar, Co-operative Societies and Maharashtra State, Pune
- After obtaining the permission for reservation in the District Central Co-operative Bank, evidence regarding the bank balance of the promoter member (deposit of each share of Rs. 500 and admission fee of Rs. 100) shall be submitted.
- Challan of Rs. 2500/- deposited in the Government Treasury Registration fee for the Housing Society of the Backward class is Rs. 50/-