Monday, March 20, 2017

Why Co-Operative Housing Society?

How & why forming a Co-Operative Housing Society
is beneficial for the flat buyers
than an Association of Apartments -
explains Mrs. Seematai Bhakare, Director,
Pune District Co-Operative Housing Federation Ltd.
- पुणे जिल्हा सहकारी गृहनिर्माण महासंघ मर्या.



While booking a flat - you can not 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. Claims Mrs. Seematai.

In her 20 years career as a consumer activist, Seematai's experience is - 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.

Obviously 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. How can you win if there is no team spirit? How can you win if there is no one who shares your goal & no one to support you to achieve it? Asks Seematai. Besides this - there is no system to support - no special court to resolve disputes!

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

And most important - there is Pune District Co-Operative Housing Federation Ltd. - पुणे जिल्हा सहकारी गृहनिर्माण महासंघ मर्या. - www.pdchf.org - to assist, help & support! That's why every Co-Operative Housing Society should become a member of Federation. Appeals Seematai in this 26 minutes Marathi YouTube video. (To download & watch it on your mobile, please, click here.)



Contact for more information:
Mrs. Seema Bhakare,
91 98603 68123,
Seema.Bhakare@gmail.com
Director,
Pune District Co-Operative Housing Federation Ltd.
पुणे जिल्हा सहकारी गृहनिर्माण महासंघ मर्या.
www.pdchf.org


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2 comments:

  1. Hi Ravi,
    These are indeed very useful videos which help buyers know a lot about their rights as well as differences which small words in agreement can make.
    Here topic was co-op hsg soc Vs apartment condominium. Some crook builders like Mittal mention co-op hsg soc/apartment condominium in their agreement. So to buyers they show that look co-op hsg soc is mentioned in agreement & buyers goes ahead but later builder forms apartment condominium stating it's society/apartment & this loophole they exploit & if flat buyers still demand co op hsg soc, these builders blackmail that they won't refund maintenance amount collected as corpus for society.

    In apartment, builder also tries to retain his rights on open spaces as well as future FSI, which is not possible in case of society.
    Apart from this, getting land transfer from builder to society name is far easier in form of deemed conveyance than doing flat wise Deed of Apartment & then getting all flat buyers documents, submitting it to registrar to get all names mentioned on 7/12. So buyers should categorically ensure that only & only co-op society is mentioned in agreement.

    And yes, those buying flats in townships like Amanora, Nanded City etc. can do bhajan kirtan for their entire lives since everything belongs to builder. What buyers do is just pay one time advance rent to builder !
    Thank you Ravi & Ms. Seema Bhakare for this video.

    Real estate sector outlook negative for FY18: Ind-Ra -

    Realty sector’s outlook remains negative for the next fiscal with housing sales expected to be muted due to high prices and significant delays in completion of projects, according to India Ratings and Research.
    The agency pointed out that the sale of residential units has been falling since the 2013-14 fiscal due to the continued high prices of housing units, making them unaffordable to end-users.

    http://www.thehindubusinessline.com/news/real-estate/real-estate-sector-outlook-negative-for-fy18-indra/article9569328.ece

    And following news will have further negative impact on real estate in IT driven cities like Pune, Bangalore -

    IT woes: Cognizant may slash more than 10,000 jobs -

    http://www.business-standard.com/article/companies/it-woes-cognizant-may-slash-more-than-10-000-jobs-117031800849_1.html

    Less hiring, more firing: Automation poses big threat in IT -

    http://www.moneycontrol.com/news/business/cognizant-may-layoff-more-than-6000-employees-this-year-2242965.html

    ReplyDelete
    Replies
    1. Psychology plays important role here. This is strange but human LOVES to get screwed by so called 'powerful'. Getting screwed by Powerful/Rich is Status Symbol nowadays. BY this act one can hide itself under the hood of Herd Mentality. This is how they can justify their acts in front of peers, relatives.

      People keep cribbing 'Maybaap Sarkaar' & left everything at the mercy of sarkaar. Similarly here it is maybaap builder.

      Delete