Concept Of Society
A co-operative society is an autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly-owned and democratically-controlled enterprise.
The membership of our cooperative society is open to all who is a resident of Karnataka. The membership fee is kept low so that everyone would be able to join and benefit from cooperative societies. At the same time, any member who wants to leave the society is free to do so.
Housing Co operative Societies are governed by the Karnataka Co-operative Societies. Under this, model bye-laws were drafted for housing societies. Housing societies are supposed to conform to these bye-laws. Members make up the general body that holds annual general body meetings. Societies can register associate members also – such members are not entitled to attend general body meetings.
Earlier, developers could get land only from the government, and not directly from farmers. Now, farmers can directly sell land to developers. But farmers themselves have to get the land converted first. They should apply to the land conversion, saying the land is unfit for cultivation. After conversion, farmers can directly sell their land to developers.
After getting land, developer has to get the layout plan approved by BMRDA. After plan approval, developer will get sites developed (roads, drains, civic amenities etc), using the development charges collected from society.
Sites are allotted on first-come-first-serve basis to the members and the associate members of the society which also depends on the in time payment done by the members and associate members. The seniority list will be finalized by the ROS.
The first two installments made by the members / associate members is used for Procuring land. The Third and Fourth installment collected by the members / associate members is used for Development of the project. After the completion of the development, sites will be registered according to the allotments done. Site Registration charges are as per the then government registration fee and are to be borne by the individual member or associate members for whom sites are allotted.