[•] Rustomjee Guide on Society Info

Rustomjee Builders is not only fabulous builder but also remarkable service provider as enable it customer and client provide unique details of society and their legal procedure with an ease. Client & customer of Rustomjee are so pleased with their services that have not only renewed their contract but also provide authentic previews and appreciation letters and testimonials with any hesitation. Some of the society related information is provided as below stated.

Co-operative Societies

There are basically four types of Co-operative Societies connected with the housing:

(i) Open Plot Societies : In Open Plot Societies, members purchase or take on lease a plot of land and themselves construct the building.

(ii) Flat Owners Societies : when a builder constructs flats and sells them to flat owners , the society then formed is called Flat Owners' Society.

(iii) Tenant Societies : When Landlord forms a Society of tenants, it is called Tenants Society.

(iv) Housing Board Societies : When a Society is formed by Allottees of flats and building is constructed by the Housing Board Authorities, i.e. Mumbai Housing and Development Board, then the Society so formed is of the type of Housing Board Society.

Procedure for Registration of Society

The procedure for Registration of a society begins with electing a Chief Promoter in a meeting of the Promoters. The builder under the Flat Owners type of co-operative society has the first right to act as the chief promoter. The developer / flat purchasers should call for a meeting of the Promoters by issuing the notice under Agenda of the meeting giving at least 14 days notice to the Promoters.

In this meeting, a Chief Promoter is elected who can exercise such powers and carry out such functions as are mentioned in the minutes of the Promoters of the proposed Co-operative Society. After electing the Chief Promoter, the proposed name of the society has to he decided by the Promoters. It is a common belief that the Society should consist of at least 10 members. If the number is less than 10 then special permission from Government has to be taken. In such cases, the garages / car parking may be allotted to other relatives of the promoter to reach number of 10.

On allotment of name and permission to open a bank account by the Registrar, the Chief Promoter has to collect Share Capital, Entrance Fees from promoters and deposit the same in the branch of the bank permitted by the Registrar. It should be noted that the amount cannot be withdrawn from the Bank till the Society is Registered or its Registration is refused, except with prior written permission of the Registrar. The Chief Promoter should submit Registration Proposal to the Registering Authority within a period of 3 months from the date of issue of Letter of Reservation in the name of the proposed Society. The documents that are normally to be submitted to the Registering as under :-

1. Application for registration of Society in Form A along with Statement A. Enclosure to application for Registration as per Rule 4(1) of Maharashtra Co-operative Societies Rules, 1961.

2. Information about proposed society in Statement 'B' (vide Govt. Circular dated 2-5-1980)

3. Information about promoter members of the proposed society in Statement 'C' (vide Govt. Circular dated. 2-5-1980)

4. A Statement of Accounts as per Form D.

5. Model Bye-laws.

6. Bank Balance Certificate.

7. R.B.I. / Treasury Challan for payment of Registration Fee of Rs. 2500/-

8. Title Clearance Certificate from an Advocate.

9. A true copy of the approved Building Plan.

10. Letter of Authority granting permission to commence construction work/Completion Certificate (if applicable)

11. Affidavit on Rs.20/- Stamp Paper from at least 10 promoter members to the effect that they are residing in the area of operation of the Society (Proposed), made before a Competent Authority.

12. Affidavit from the Chief Promoter on Stamp Paper of Rs.20/- executed before the Competent Authority in form'Y'.

13. Certified True Copy of agreement made on Stamp Paper and Registered between the builder, promoter and purchasers of flat.

Once the Proposed Society is registered it is to be noted that the Builder/Promoter/Developer has no say with respect to the said building