Co- Operative Housing Society

1. Formation: A builder has to initiate steps towards formation of society once he sells at least 10 Flats/ units in the building.
2. Conveyance of land & Building: Within 4 months from the date of formation of the so-operative housing society the builder has to convey the Land and the building in favour of the society.
3. Common electric Meter: Incase a builder provides electricity connection to the flat owners from a common electric meter it will be the builder’s responsibility to ensure the supply to each flat owner. In case of default, the flat owners can file a legal suit against the builder in the small causes court. The court may direct the builder to reinstate the supply of electricity. In case of default the builder will have to pay penalty @ Rs.100/- per day of default.
4. Non-Occupancy charges: a society can’t charge an amount exceeding 10% of the service charges towards non-occupancy charges.
5. Maintenance charges: can be laved on the basis of the area of the flat. All the members should share maintenance charges equally.