BUYING SITES OR PLOTS FROM HOUSING CO-OPERATIVE SOCIETIES ? CHECK


Planning to buy a plot or site in a housing co-operative society?

Planning to buy a plot or site from a reseller, who bought or allotted site or plot by the housing co-operative society?

Please conduct a thorough and diligent scrutiny and examination of all the title documents, approvals and the BACKGROUND of the seller.

A Co-Operative society is permitted by the Government for a specific purpose for a particular or specific group in a specific or particular area for a specfic purpose like credit co-operative society or house building society.

Every person cannot become a member of multiple societies with similar purposes.

 

There is a By-Law which is applicable to every society, which dictates the terms, conditions, and eligibility of the members and it has to be approved by the Joint Director of Co-Operative societies of that particular state.

The allotment of the sites or plots is governed by the by-laws and the prevailing laws of the state.

A person, which includes his family, cannot buy more than a site or multiple sites from housing society, khb, bda or under ashraya scheme.  The entire family can buy only one site either from BDA, KHB, Housing Society or if the family or the head of the family already have a property, then such persons cannot buy a property from these entities.

HENCE, CHECK, BEFORE BUYING.

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