Mridul Verma
I am a member of a housing society having 180 members. The society is constructing 210 units and so far only 180 members are inducted. Around 70% of the work is completed and for the construction of the balance works the society wants to give the unoccupied flats to a developer who will have the right on the unoccupied flats for its sale at the rates he wants.
The society through its General Body meeting had taken an approval of this proposal. There shall be an agreement between the society and the developer that the balance works of all the 210 units and allied works as agreed shall be completed by the developer within a fixed time frame for which the society will hand over the right of unoccupied flats to the developer and some fixed amount from each member on the basis of the assessment of the 30% balance work .
There shall be a Tripartite agreement to be signed by Society Developer and each member. I will like to know whether it is covered under the society laws and society is competent to sign such agreement with developer and what are the possible consequences of this agreement. A few lines from you will be highly appreciated.
I C Naik
Co-operative society including housing society is a juristic person an incorporated body born as a result of its registration under the Cooperative Societies Act of the State it is operating. Cooperative housing society can do all that it’s Bye Laws contain in its objects.
So whether a cooperative housing society can allot plots to a builder who does not want to be member but would like people he chooses to become members of this 180 member cooperative housing society. This is one object being contemplated in the scheme before you as a member.
The other object is to allot plots for a price which is to be received by way of service and not money like what 180 members did. So ask for a copy of the Bye Laws and look for these two things which your housing societies can do or not. Answers are in the Bye Laws which members are not ready to become friendly with. Ask for a copy of your society’s Bye Laws by a written request to the Secretary. Yoy may have to pay a cost of copying but that’s OK. For an issue of this magnitude few bucks you can afford.
If Bye Laws do not permit these two things, there is an answer in it for that also. Bye Laws permit amendments thereto as per procedure laid down therein. In most State Laws the general body meeting
Is required to pass amendment by 2/3 majority of members present and voting plus approval of the Registrar. Unless the amendment is found to be objectionable well backed by reasons, the Registrar has to register the amendments.
So the answer is cooperative housing society can do anything if a large majority is willing to work together and in the interest a vast majority.
