Applicant to take 10 shares of Rs. Bye law No. Ownership in the property individually or jointly with others is must and whose name does not stand first in the share certificate. Education and training of Co-operative members, committee members, officers and employees —.
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Maharashtra Co-operative Housing Society Bye Laws offer a clear set of guidelines for management of cooperative housing societies in the state of Maharashtra. Each housing society needs to follow the rules as listed in the Maharashtra Co-operative Housing Society Bye Laws to qualify as a registered housing society.
Bye-Laws: Bye-laws mean the registered bye-laws of the society. Chief Promoter: Chief Promoter means the person who is elected by the Promoters till the first general body meeting of the society takes place. Committee: Committee means the Committee of the members that look after the overall management of the affairs of the society. Days: Days mean the number of calendar days between the day of posting the notice and society meeting.
Flat: Flat means any self contained set of premises used for residential or commercial purpose. Housing Society Federation: Housing Society Federation means the federation of co-operative housing societies, registered under the Act.
Parking Space: Parking Space means open space within the premises of the society earmarked by it for parking of vehicles and includes a stilt. Promoter: Promoter or builder is a person or set of persons who constructs or causes to be constructed a block or building of flats or apartments for the purpose of selling.
Common Areas and Facilities: Common areas and facilities for all apartments include the land on which the building is located including its foundation, terraces, halls, corridors, stairs, fire escapes as well as all entrances and exits. Member: Any person joining the cooperative society as per the bye-laws and by submitting an application for registration is known as a member once accepted. Working Capital: The funds at the disposal of any society including its paid up share capital, profits as well as other raised or borrowed money all come under the definition of working capital.
Area of Operation: The area of operation for any cooperative housing society as defined under the Maharashtra Co-operative Housing Society Bye Laws shall be confined to all cities and towns of the state of Maharashtra. Affiliation: The Society immediately after its registration shall become a member of the Housing Federation of the District.
The District Central Co-operative Bank of the District will pay funds to the society as per the bye-laws of the respective organizations. Fund Raising: Each society can raise funds as and when required either by charging an entrance fee or issuing shares or offering loans and subsidies.
The society is also allowed to receive voluntary donations. Housing societies can charge a fee on transfer of shares along with occupancy rights. Member Rights and Responsibilities: The membership of the society as per the Maharashtra Co-operative Housing Society Bye Laws must include associate members and nominal members. Any individual who is competent to contract under the Indian Contract Act, or a corporate body constituted under any law for the time being in force, or a society registered under the societies registration act, are eligible for membership.
An individual who is eligible to be the member must may the membership fee as per the society bye-laws for before being inducted as a member. Incorporation of Duties: The registration of the Society shall render it a body corporate by the name under which it is registered.
The Society shall cause the structural audit of the building of the society once in five years for buildings between 15 to 30 years of age and once every three years for buildings above thirty years of age. Bank or its branch or in any scheduled co-op Bank. Resolution of Complaints: As per the section 91 of the Maharashtra Co-operative Societies Act of , any dispute regarding the business activities of the society can be forwarded to any society member of surety of the member for resolution.
The society bye laws ensure voluntary formation ensuring participation from all concerned. Maharashtra Cooperative Housing Society Bye-Laws also helps societies to initiate any redevelopment process as per the norms of the authority from structural audits to repair and renovation work along with day to day affairs of the society.
Property developers in West Bengal have asked from the state government a support package including tax waivers and temporary cuts in stamp duty after the indebted industry set to stop due to the Coronavirus forced lockdown. Highlights The central government is going to convert government-funded homes in different cities into affordable rental housing through public-private partnerships PPP for urban poor. These announcements were a part of the […].
Highlights According to the new outline, a company with up to Rs 50 crore investments and up to Rs crore turnover is categorized as a medium enterprise.
As per the new changes, businesses with an investment of less than Rs 1 crore and a turnover of Rs 5 crore would be classified as micro-enterprises. On 26th May , in a circular, the Maharashtra government said that it will keep the Circle Rate unchanged for the current financial year as it could not access new rates due to the Covid outbreak.
Circle rate, also known as Ready Reckoner Rate and Guidance Value, is the minimum rate at which a […]. Key Features of the Act Area of Operation: The area of operation for any cooperative housing society as defined under the Maharashtra Co-operative Housing Society Bye Laws shall be confined to all cities and towns of the state of Maharashtra.
What the Act means for people involved? Prahalad Singh June 4, Prahalad Singh June 3, Prahalad Singh May 31, Latest Videos. Log in to your account.
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Recent changes in Maharashtra Co-Operative Society Act 1960
Subjects to the provisions of the Act, the Rules and the Bye-laws of the Society, the final authority of the Society shall vest in its General Body Meeting, summoned in such manner as is specified in these Bye-laws. The Management of the affairs of the Society shall vest in the Committee duly constituted in accordance with the provisions of the Act, the Rules and the Bye-lawsof the Society. Subject to the direction given or regulation made by a Meeting of The General Body of the Society, the Committee shall exercise all powers, expressly conferred on it and discharge all functions entrusted to it under the bye-law No. This strength includes the reservation of seats as provided under section 73B and 73C of the Act. It shall be the duty of the Committee to intimate to the State Election Authority for holding of its election before expiry of its term.
Model Bye–Laws of Cooperative Housing Society
The Maharashtra Apartment Ownership Act, Click Here. The Maharashtra Societies Registration Act, The Maharashtra Society Registration Rules, The content has been received from sources we believe to be reliable, and the content have not been independently verified by us, hence we make no warranty about the accuracy or completeness of these documents. Also ADDA does not assume any liability for any damage caused due to action taken or not taken on basis of these documents. Society under Cidco pls.
The Maharashtra Cooperative Housing Society Bye-Laws