If you’re planning to be a homeowner, a residence in a cooperative housing society would have been recommended a good deal. The proliferation of cooperative housing society and related legal frameworks across India is a mammoth subject of study. To better understand the basic concept and the fabric of cooperative housing societies, this article is a good place to start.

               Essentially, a cooperative housing society is a membership-based legal entity made of one or more residential buildings. You become a member by buying shares in the housing co-operative. In return, as a member, you get the right to occupy a housing unit in the society, be it an apartment or a house. A commonly accepted definition states that in a housing co-operative, the members “pursue the same cause of meeting the common need of housing or its improvement based on mutual assistance.” To elaborate, it is a democratically governed enterprise that entails voluntary management, shared expenses, and community living. To borrow from Alexander Dumas’ The Three Musketeers – One for all, and all for one – is the motto of a cooperative.

 

Table of content

1. The origin of cooperative housing societies

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2. Types of Co-operative housing societies (categorized on type of ownership):

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3. What are the characteristics of a cooperative housing society?

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4. What is the procedure to become a member of a cooperative housing society?

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5. Government policies and legislation

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6. What are the advantages of living in a co-operative housing society?

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