What Is Housing Cooperative Society Registration?
A society, which has as its object of the promotion of the economic interests or general welfare of its members, or of the public, in accordance will co-operative principles, or a society established with the object of facilitating the operations of any such society may be registered under the Act
A co-operative society is the perfect fit for a residential building as flat-owners have common needs like water connection, watchmen, e.t.c and interests like maintenance of common areas, such as the terrace and compound. If you’ve purchased a flat in a new building, it would probably be best if you took interest in forming a society. The builder may also be statutorily obliged to form a society. For example, under Maharashtra Flat Ownership Act, 1963, a builder must form a society within four months of selling 60% of the flats.
Procedure for Registration
First general body meeting (before registration):
In first meeting under Society’s Model Bye-law 3(iii), the Chief Promoter (could be the builder) is selected by the promoters, who are members co-signing the registration application before the Registering Authority, under Bye-law 3(xii).
In this meeting, necessary resolutions are passed like opening the account in a bank in the name of proposed society and for obtaining permission for reserving the name of the society. It is compulsory for SRA/ MHADA recognized societies, for the first meeting to be video-recorded.
Application for Registration
The first step is to reserve the proposed name of the Society. Normally, a proposal for same shall be accompanied by the society resolutions and signatures of at least 10 Promoters who have attended the meeting.
The registrar allows the name and grant permission to open a bank account. The Chief Promoter shall collect Share Capital, Entrance Fees from all the promoters and deposit the same in the branch of the bank permitted by the Registrar.
Without prior approval of Registrar, the amount deposited cannot be withdrawn till the society is registered or its registration is refused.
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.
Documents required for 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
- Letter of sanction for starting construction
- Certificate regarding completion of construction work
- Development Agreement if the land is taken for development
- Letter of Power of Attorney of the land
- Title search report of the land
- The registered agreement of purchases of the flat with necessary stamp duty paid
- Architect Certificate regarding construction
- List of Members
- Scheme of the Society
- Application for reserving name
- At least ten members are necessary for registration of society. On the other hand, the government has given permission subject to some conditions for the Housing society of fewer than 10 members by exercising powers. For registration proposal, the signature of sixty percent promoters, who participated in the registration proposal is necessary.
- If the land is given by the government or undertaking agency of the government then its guarantee letter.
- No objection certificates from the Charitable Commissioner if the land is of Trust.
- Certificate of the competent authority regarding non-agricultural plot
- While registering SRA/SRD and MHADA recognized Co-operative Housing Societies, it is obligatory to fulfill the necessary papers as per instructions are given by the authorities by their circulars in addition to above criterion.
- 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
- Proof of the bank balance of the promoter member (deposit of each share of Rs. 500 and admission fee of Rs. 100), after getting permission for reservation in the District Central Co-operative Bank
- Challan of Rs. 2500/- deposited in the Government Treasury Registration fee for the Housing Society of the Backward class is Rs. 50/-
Approval by Registrar
On satisfaction of application, the registrar shall register society by issuing a registration certificate. It is essential to take a decision on the registration of the society within a period of two months from the date of the proposal of the society submitted to the Registrar.