Buying a house is not necessarily only for end-use for the owner. The other reasons why one buys a property include investing the surplus income, diversifying assets or may have bought for end-use but … READ FULL STORY
Maharashtra has around 1.25 lakh housing societies with over 2 crore members. Of these, 70% of the societies are located in the Mumbai Metropolitan Region (MMR). The Maharashtra state government will soon be implementing … READ FULL STORY
A residential housing society has an association known as the Resident Welfare Association (RWA) that works towards the welfare of the people living in the society. This represents the owners and tenants living in … READ FULL STORY
To provide accountability for running the co-operative housing society (CHS) effectively in Maharashtra, the state government has mandated housing societies to hold the annual general body meeting (AGM) according to its Model Bye-Laws. The … READ FULL STORY
Cooperative housing societies have existed in India for many decades. They play a crucial role in providing affordable housing solutions to lakhs of people. Housing cooperatives are self-regulated entities, governed by their members. They … READ FULL STORY
India has nearly 900,000 cooperatives societies, the highest in the world. In fact, cooperatives societies account for nearly 20% of the country’s gross domestic product. Of this, Maharashtra has 2.3 lakh cooperative societies, with … READ FULL STORY
Among the many expenses that home buyers have to bear, are the transfer charges that cooperative housing societies charge on the sale and transfer of shares and rights to the flats in a building. … READ FULL STORY
As housing societies are not apparently engaged in any income earning activities, there is a perception that they are not required to comply with any income tax provisions. This impression is heightened by the … READ FULL STORY
Flat maintenance charges are a routine expense for residents living in housing societies or apartment complexes, covering services like security, cleaning, and common area upkeep. However, these charges often come with an additional cost: … READ FULL STORY
The sub-registrar of societies in Vasai division, has served notices to 19 cooperative housing societies, after receiving a complaint that these housing societies were preventing non-Catholics from renting, purchasing flats or becoming members. These … READ FULL STORY
The Supreme Court has refused to interfere with an order restraining a woman from feeding birds from her balcony flat, in a high rise building in Mumbai. “If you are living in a residential … READ FULL STORY
The Supreme Court (SC) of India recently provided a big relief to cooperative societies (societies), by dismissing the claim of the income tax authorities on levy of tax on various receipts (for example, non-occupancy … READ FULL STORY
Around half-a-dozen housing societies in Mumbai, have got the go-ahead for self-redevelopment from the Maharashtra Housing and Area Development Authority (MHADA), an official has revealed. The Mumbai District Central Cooperative Bank (MDCCB) has also … READ FULL STORY
