Housing Society Registration

In the bustling urban landscapes of Mumbai and the rapidly evolving communities of Thane district, cooperative housing societies stand as bastions of collective living, fostering solidarity, and addressing the diverse housing needs of residents. If you're contemplating the establishment of a cooperative housing society in these vibrant regions, navigating the registration process is essential. Here's a comprehensive guide to help you embark on this journey with confidence and clarity.

Understanding the Legal Framework: The registration of cooperative housing societies in Mumbai and Thane district falls under the ambit of the Maharashtra Cooperative Societies Act, 1960. This legislation, along with its associated rules and regulations, provides the legal framework for the formation, governance, and dissolution of cooperative societies across the state.

Formation and Organization: The first step in establishing a cooperative housing society is to assemble a core group of individuals who act as Promoters of the Proposed Society. These are usually individuals who have purchased flats/shops in the building directly from the Builder/Developer. This group is responsible for drafting the bye-laws, which serve as the foundational document governing the society's operations, membership criteria, decision-making processes, financial management, and dispute resolution mechanisms. Legal guidance during this phase can ensure compliance with statutory requirements and the effective representation of members' interests.

Calling of the First Meeting of the Promoters:  A promoters' meeting in the context of a housing society typically refers to a meeting convened by the promoter or builder of a residential project with prospective buyers or flat owners. This meeting serves as a platform for the promoter to communicate important information about the project and to initiate the process of forming a cooperative housing society. In the first meeting, the Promoters select a Chief Promoter amongst themselves and authorize him/her to act as the primary point of contact and representative of the promoters' group. Furthermore, crucial decisions such as finalizing of the name of the Society, drafting of bye-laws, etc. are also taken in this meeting. 

Name Reservation: After the first Meeting of the Promoters, the designated Chief Promoter initiates the process of name reservation of the Proposed Society and account opening by submitting the appropriate forms to the relevant Registrar, as per the society's operational area and category. After the name is reserved by the concerned Registrar, the Chief Promoter proceeds to open an account in a permissible bank or District Central Cooperative Bank (DCC Bank) and obtains a Balance Certificate in accordance with the policy applicable to the type of society. The process of opening of the bank account has to be completed by the Chief Promoter within 3 months of the Name Reservation Order issued by the Registrar, failing which an official extension has to be sought from the Registrar. Upon opening the bank account, the Chief Promoter is responsible for depositing the amount collected from each Promoter towards Share Money (Rs. 500) and Entrance Fee (Rs. 100) into this account. The Share Money amount forms a part of Share Capital of the Proposed Society and which cannot be withdrawn or utilized until the Registration process is completed. 

Application for Registration: After the bye-laws are finalized and approved by the general body, the society submits an application for registration to the office of the Registrar of Cooperative Societies. This application must be made in the prescribed format and accompanied by various documents, including copies of the bye-laws, list of members, Approved layout of the property, Architect Certificate, and minutes of the meeting of the Promoters where the bye-laws were approved, etc.

Scrutiny and Approval Process: The Registrar's office scrutinizes the registration application and associated documents to ensure compliance with regulatory requirements. If everything is in order, the Registrar approves the registration of the housing society.

Issuance of Registration Certificate: Upon approval, the the Registrar issues a certificate of registration to the society, duly signed by him and affixed with the official seal. This certificate includes the registration number of the society and the date of its registration. The Registrar also notifies the registration of the society in the Official Gazette of the Maharashtra Government. Additionally, the Registrar is obliged to provide the society with a certified copy of the approved and registered bye-laws. This ensures that the society possesses an official document outlining its governing rules and regulations, as approved and sanctioned by the Registrar.

Ready to embark on a journey towards elevated community living in Mumbai and Thane? Let us be your trusted partner in the housing society registration process. Contact us today to discover how we can help turn your vision into reality!