Purchase of share in chs

AWHO Colony (Querist) 20 March 2022 This query is : Resolved
My wife is owner and member of CHS.share certificate has all shares in her name.
How do I purchase shares of society and what is the minimum amount of share I can purchase as spouse?
Ravichandran

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This discussion addresses how a spouse can become a member of a Cooperative Housing Society (CHS) when their wife is already a member. The advice clarifies that direct purchase of shares by a spouse might not be possible, especially under certain state cooperative acts. An alternative suggested is becoming an associate member or obtaining membership through a gift deed from the wife, which may involve lower stamp duty for family members. The process and costs associated with a gift deed in Telangana are also discussed, advising consultation with local authorities or legal professionals.

Dr J C Vashista (Expert) 21 March 2022
Which State your AWHO Colony / CHS is located as Cooperative Societies Act of the State apply to qualification / disqualifications for membership, where Delhi CS Act do not permit spouse to have membership in any other society ?

AWHO Colony (Querist) 21 March 2022
Property is in Telangana state and I live in the property. Is there any way I can get a membership by way of buying 1% value of property? If not what is the minimum value?

SHIRISH PAWAR, 7738990900 (Expert) 21 March 2022
Hello,

You can became associate member in the society.

AWHO Colony (Querist) 21 March 2022
Many thanks for your reply.
I have some doubts.Request your opinion on the following
Can an associate member attend GBM of CHS?
How much cost do I need to bear for becoming an associate member.
Is gift deed a solution. If so what is the cost involved?

kavksatyanarayana (Expert) 21 March 2022
Only a share member of the CHS. So your wife may execute a Gift deed in your favour. The stamp duty is less for family members. Inquire in your state as the stamp duties vary from one state to another state.

AWHO Colony (Querist) 21 March 2022
Thank you for a solution and for immediate informative response.
Very useful

Dr J C Vashista (Expert) 22 March 2022
Property is in Telangana state and I live in the property.
Telangana State Cooperative Societies Act shall apply to the CHS in the State.

Is there any way I can get a membership by way of buying 1% value of property?
No.
You can get membership in the Society on transfer of the property in your name, which may be by way of gift deed executed by your wife in your favour.

If not what is the minimum value?
Not applicable.

Subsequently regarding your query concerning cost of gift deed any gift is without consideration for which you need not pay to your wife (titleholder).
However, stamp duty and registration charges are state (Telangana) subject which may be ascertained from area Sub-Registrar or a local lawyer, document writer etc.

AWHO Colony (Querist) 22 March 2022
Thank you Sir for an enlightening reply.info is very crisp and provides apt guidance

Dr J C Vashista (Expert) 23 March 2022
You are welcome Mr./ Ms. AWHO Colony, (presumably an adopted name of author of the queries since no parents have so far named their child in the name of Army Welfare Housing Organisation Colony, as quoted by you)

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