Sunday, May 07, 2006

The Chandigarh Administration has given a major relief to Cooperative House Building Societies

Chandigarh, May 7:- The Chandigarh Administration has given a major relief to the members of the Cooperative House Building Societies by allowing the Societies to take their own substitution decision in their general bodies. The Administrator, UT, Chandigarh, Gen. (Retd.) S.F. Rodrigues, has approved a key and far reaching policy for the benefit of the members of the Cooperative Housing Societies. The decision regarding substitution of the membership has been left to be taken by the respective House Building Society in their general body meeting provided such decisions are consistent with the provisions of ‘Cooperative Societies Act’ and rules framed there under, article of association/byelaws of the said Cooperative House Building Society and the terms & conditions of allotment of land to the societies. The Administration will ensure compliance with the rules. The Administration has decided not to get itself involved in the micro management of the societies. However, if the actions of the Societies are not in accordance with the stipulated rules, the Administration will take suitable action as provided in the rules. There are 120 Cooperative Group Housing Societies in Chandigarh and about 8000 families will be benefited with this decision. It is worthwhile to mention here that the Chandigarh Administration had notified the scheme called Chandigarh Allotment of Land to Cooperative House Building Societies Scheme, 1991 with a view to promote private housing and optimum utilization of land by constructing multi storeyed structure. The land was allotted to the Chandigarh Housing Board on chunk basis for its further allotment to the Cooperative House Building Societies. After allotment of land to the Societies, some of the members withdrew, surrendered their shares and also some dwelling units have become available due to expulsion, cancellation for default in payment and the said dwelling units are lying un-allotted. For this purpose, the issue regarding substitution of members was considered by the Administration.
Chandigarh Desk
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