Kapil Mudholkar (Social Media) 30 June 2014

Society formation

Hello,

Ours is a new construction with possession period started from last couple of years. Now, our builder is asking us to sign society registration forms. He wants to hand over society matters to us. However, he has taken corpus fund from all of us for the period of 3 yrs. Based on that, I have certain queries.

1) According to the builder, he has submitted papers to the municipal council for the completion certificate. And as per him, once he gets that, he will form the society. Now, can he do that? Is it okay to form a society before the maintenance period from the builder is completed?

2) He will be doing a conveyance deed. Is it okay, if we can go ahead with it?

3) Most of the members are of the opinion: Unless and until, he completes the work as per promised amenities, we should not be signing the form. Can builder force us to sign the papers?

4) Will there be any deduction in the amount taken as corpus fund at the time of society transfer?

5) How should be calculate the period of 3 yrs mentioned as per the builder for society maintenance? As per one of his representative, it is from the date of flat purchased?

6) He still has one of his constructions under process in the premises?

7) Every member has different booking and possession date? How will the period will be calculated?

8) How many percentage of members would be required to form a society? Around 70% owners are the investors.

I know these are lots of queries, however, we all are confused to move ahead in any direction on this matter.

I will appreciate, if I can get answers to these queries.

Thanks and regards,

Reply Follow

2 Replies

Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 ) 30 June 2014

The right to form a society is now a fundamental right of the citizen (Article 19 of constitution).

The process of registration of a new Co-operative housing society starts from the working of the first general body meeting held prior to registration. In this meeting the Chief Promoter (could be the builder) is primarily selected by the promoters and necessary resolutions like opening the account in bank in the name of proposed society and for obtaining permission for reserving the name of the society.

The term Chief Promoter is defined in the Bye-laws under Bye-law 3(iii), as a person who is elected by the Promoters, in their first meeting or in their subsequent meetings. The term Promoter is defined under Bye-law 3(xii) of the Model Bye-laws of the Society, as a person, who co-signs the application for registration of the Society before the Registering Authority.