"Types of Co-operative Housing Societies"

 

"Types of Co-operative Housing 

Societies"

(categorized on type of 

ownership):

There are levels of housing societies; 

               According to a housing co-operative profile dissertation on Shodhganga, these ACHFS consist of around 92,000 housing co-operatives all over the country out of which, about 31,000 housing co-operatives are affiliated to State level ACHFS for getting financial aid. The rest of the co-operatives are those who get finances from other sources and those who have repaid their loans fully.

(1) Ownership Housing Societies: 

The society holds the land on a lease or freehold basis by societies, and members own the houses.

(2) Co-Partnership Housing Societies: 

These housing societies hold both land and buildings, either on leasehold or freehold basis, and allot flats to their members.

(3) House Mortgage Societies: 

Such societies lend money to their members for the construction of houses. The members have to build a house on their own.

(4) House Construction or House Building Societies: 

The society provides money to the members for building the houses and living in them. The money spent is recovered as a loan.
Co-operative housing societies can be categorized based on the type of ownership and the purpose they serve. Here are some common types:

(5) Tenant Co-operative Housing Society:

               In this type, the members are tenants who have collectively formed a Co-operative to manage and control their housing situation.
               The ownership of the property remains with the Co-operative, and members have the right to occupy specific units.

(6) Ownership Co-operative Housing Society:

Members of this type of society collectively own the property. Each member typically holds shares in the Co-operative corresponding to their unit or apartment.
The Co-operative entity holds the title to the entire property, and members have exclusive rights to their individual units.

(7) Affordable Housing Co-operative:

These societies focus on providing affordable housing options to their members.
Members usually contribute financially to the cooperative, allowing the society to purchase or develop properties at lower costs.

(8) Senior Citizens Co-operative Housing Society:

Geared towards the elderly, these societies provide housing solutions that cater to the specific needs and preferences of senior citizens.
Facilities and services may be tailored to support the well-being and comfort of older residents.

(9) Artist Housing Co-operative:

Designed for individuals in the artistic community, these societies aim to create a living environment that fosters creativity and collaboration among its members.
Spaces may include studios or communal areas for artistic endeavors.

(10) Employee Co-operative Housing Society:

Formed by employees of a specific organization, these societies offer housing solutions for the employees of a particular company or industry.
The aim is often to provide affordable and convenient housing for employees.

(11) Mixed-Use Co-operative Housing Society:

These societies integrate residential and commercial spaces within the same property.
Members may have the option to live and work within the co-operative, promoting a mixed-use community.

(12) Self-Help Co-operative Housing Society:

Members come together intending to collectively build or develop their housing project.
This type often involves a high level of participation from members in the construction and management of the housing society.

(13) Rural Co-operative Housing Society:

Focused on providing housing solutions in rural areas, these societies aim to address the unique challenges and needs of rural communities.
They may incorporate agricultural and community development aspects.

(14) Green Co-operative Housing Society:

Emphasizing environmental sustainability, these societies implement eco-friendly practices in construction, energy use, and daily living.