Question 1

What is a co-operative housing society?

Accepted Answer

A cooperative housing society, also known as a cooperative housing society or a housing cooperative, is a type of organization formed by a group of individuals to collectively own and manage residential properties. The main purpose of a cooperative housing society is to provide affordable housing and create a sense of belonging to a community amongst the members.

Question 2

What are the features of a co-operative housing society?

Accepted Answer

Ownership: In a cooperative housing society, the members collectively own the property. Each member holds shares in the cooperative, which entitles them to occupy a specific unit or apartment within the society.
Membership: Membership in a cooperative housing society is open to individuals who meet the eligibility criteria defined by the society. Typically, prospective members must apply for membership and undergo a screening process by the society's board or committee.
Governance: The society is governed by a managing committee or board of directors elected from among the members. The committee is responsible for making decisions, implementing policies, managing finances and maintaining the property.
Shared Responsibilities: Members of the cooperative housing society share responsibilities for the maintenance and management of common facilities and amenities such as common areas, gardens, parking lots, security and other infrastructure. The society collects maintenance charges from its members to cover these expenses.
Democratic Decision-making: Major decisions regarding the society, such as changes in rules and regulations, financial matters, and policy decisions are made collectively through a democratic process. Members have the right to participate in meetings, vote and voice their opinions.
Social and Community Development: Cooperative housing societies often foster a sense of community among their members. They may organize social and cultural activities, events, and promote community welfare initiatives.
Benefits and Affordability: Cooperative housing societies aim to provide affordable housing options to their members. Since the society is owned and managed by the residents themselves, they can often enjoy cost savings compared to other forms of housing.

Question 3

What is the difference between a housing society and co-operative housing society?

Accepted Answer

A regular housing society is a voluntary organization which is based on the principles of self-help and self-reliance for their daily functioning and governance. On the other hand, the co-operative housing society is an organization based on the principles of democracy, so that it is run by the people and for the people. In it, the members of the governing body are elected in a fair democratic manner.

Question 4

Who heads a co-operative housing society?

Accepted Answer

A board of governance in a co-operative housing society is headed by the Chairman who is elected from amongst its members.

Question 5

What are the benefits and objectives of forming a co-operative society?

Accepted Answer

Such a society is formed with certain objectives in mind, such as:
To promote a healthy living environment for like minded people to peacefully reside.
To promote a sense of belonging to a single unified community irrespective of religion, caste, creed or status.
The maintenance of open spaces and common areas are properly ensured in such societies as there is a proper governing body.
The members of the society are given financial assistance in the form of loans for making new additions to the premises.

Question 6

What are the general rules to be followed in a co-operative housing society ?

Accepted Answer

Maintenance of the flats / apartments by the residents.
Payment of maintenance charges on a regular basis.
Attending the General body meeting.
Abiding by the rules of the society
Not indulging in any act which jeopardises the safety of the other residents.
Taking permissions from relevant authority before making any changes inside flat.
These are some of the basic rules to be followed, however, the detailed rules vary from society to society.

Co Operative Housing Societies In Trichy

Srirangam Co Op Building Society Limited

Thendral Nagar Co Op Building Society Limited

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