Can co-operative housing society issue different number of shares to it's members

As per the law, services by resident advocates, lawyers, doctors, and accountants are some of the approved commercial activities in any residential area. In case your State allows you to use a portion of your property for commercial use, there are certain permissions that you need to obtain, including the consent of the society and local municipal office, depending upon the nature of business. 

Here, remember that running an office from home is widely accepted in different parts of the country. However, an activity involving the movement of goods from the residential premises is regarded as commercial and is usually not allowed unless specific permissions are obtained.  

Once a property is marked as commercial, it would be treated as a commercial property for all purposes, including taxation. However, the following activities, as per the directions of the Supreme Court, are not permitted inside residential premises:

• Banquet Hall
• Any activity that involves the use of hazardous or combustible substances
• Repair shops for automobiles
• Retail shops dealing with the sale of construction materials, liquor, and junk food 

In Mumbai, if you wish to use a residential property for commercial purposes, you need to obtain a No-Objection Certificate (NOC) from the respective society. You can use up to 220 sq ft in a residential apartment for commercial use. While back office work is usually permitted by the society, activities which require the use of property as godowns, warehouses, cold storage, and laboratories are not permitted.

Accordingly Residential and such commercial activities, as stated by you can not be permitted.

It would be better to consult a local prudent lawyer. 

Thanks sir for the detailed information, in case all approvals are in place then against such commercial shops can society issue lower number of shares to the shop owners, residential apartment owners hold 5 shares each & would like to issue 2 shares each for shop owners - can this be done?