WHY CO-OPERATIVE HOUSING SOCIETY?

While booking a flat – you cannot focus only on owning your own home. You have to focus on how you can live a comfortable life in your own home – in your housing scheme. The best & the only way to enjoy a comfortable life in your own flat is to form a Co-Operative Housing Society and manage it well.

while booking a flat & registering flat agreement – first time home buyers give least importance to whether the builder is going to form a Co-Operative Housing Society or an Association of Apartments. Including how much the builder is charging to form it. 

However, after flat possession, some flat buyers understand the benefits of a Co-Operative Housing Society and to correct their mistake – start fighting with the builders. 

Instead of that – before booking a flat – if you confirm that the builder is going to form a Co-Operative Housing Society – you can live a comfortable life & earn good property appreciation if you manage your society.well.

Co-Operative Housing Society is better than Association of Apartments for 2 reasons –

1) Ownership

2) Management

Housing scheme is a collective living – community living – living in a group. 

If the ownership of the entire housing scheme – all buildings & the plot of land – is with a community – means with a Co-Operative Housing Society – maintaining society & developing community life becomes essential & easy. That’s why Maharashtra Government has passed cooperative law & developed entire system to support smooth functioning of Co-Operative Housing Societies. Including a special court.

Against this – in an Association of Apartments – the ownership of a flat & equal share of a plot – is with individual flat buyers. This is inorganic &unnatural.

Along with legal system, there are service providers who specialize in maintaining the property and managing accounts of a Co-operative Housing Society.