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Prahladrai Dalmia Lions College of Commerce & EconomicsSubject: Cooperatives & Rural Markets Project on: Housing Co-operative Societies By: Dishank Khandelwal Of: S.Y.BMS (A) Roll No.: 56 Submitted to: Miss Shakuntala

INDEXSR. NO.01 02 03 04 05 06 07 08 09


DeclarationI, Dishank Khandelwal of S.Y.BMS (A), Prahaladrai Dalmia Lions College of Commerce & Economics, hereby declare that I have completed the project titled Housing Co-operative Societies in the academic year 2010-11. The information submitted by me is true and original to the best of my knowledge.

Signature of the student (Dishank Khandelwal)

Certificate of Project CompletionCertified that the project report titled CONSUMER COOPERATIVES has been completed satisfactorily in partial fulfillment of BMS course of the University of Mumbai, Mumbai for the academic year 2010-2011 by Umesh Kothari, a student of Prahladrai Dalmia Lions College of Commerce & Economics.

Place: Date: Signature of Principal

Seen By:Internal Examiner: Signature: Date: External Examiner: Signature: Date:

ACKNOWLEDGEMENTFirst of all I would like to thank the almighty for his blessing that helped me to achieve everything I had wished for till now. I express my deepest gratitude to Mrs. Shakuntala whose invaluable guidance and supervision in the project infused in me great inspiration and confidence in making this project in right earnest. This masterly guidance from time to time made the study interesting and meaningful. She was always there for our help and doing away all the difficulties and confusions that arises during the project period. She also helped me to understand what was actually required from the project and what was needed to be done. At last I would like to thank our respondents for their kind response and their precious time. Many other who have been associated with work directly or indirectly, all have my sincerely thanks. The greatest achievements of the facts, that ONE WHO PREACHES THE GOAL WINS THE GAME

Dishank Khandelwal

CO-OPERATIVE SOCIETIESAn autonomous open and voluntary association of persons of the weaker section of the society, to meet their common socio-economic and cultural needs and aspiration through a jointly owned and democratic control enterprise in accordance with the cooperative values and principles.

ORA Cooperative Society is an Association of a minimum of 25 persons untitled voluntarily to meet their common economic, social and cultural needs and aspirations, through a jointly owned and democratically controlled enterprise, registered under the Cooperative Societies Act.

Classification of Co-operative SocietiesAs per subject to the provisions of sub-section (1) of section 4, a co-operative society formed with the object of facilitating the operation of any one of the classes or sub-classes here in after given shall be classified as a co-operative society of that class or sub-class namely:1) Producers' society: - Objective is producing and disposing of goods

as the collective property of its members.2) Consumers' Society: - Objective is obtaining and distributing goods

to or of performing services for its member, as well as to other consumers within the area of operation specified in the bye-laws.3) Housing Society:- Object of providing its members with dwelling

houses subject to the provisions of these rules and on the conditions to be determined by the Lt. Governor from time to time) and may be of any of the following types:a. Tenant Ownership. b. Tenant Co-partnership. c. Builder Co-operative. d. Ownership cooperative.4) Processing Society: - Objective is the processing of goods by

mechanical or manual process.

5) Marketing society: - Its main purpose is of marketing agricultural

or other produce and includes amongst its objects, the supply of the requisites of such production.6) Joint Farming Society: - Objective is increasing agricultural

production, employment, income and better utilization of resources; land held by members is pooled together and is jointly cultivated by the members on behalf of the co-operative society.7) Collective Farming Society:-The object is increasing agricultural

production land is acquired from outside in the name of cooperative society and is collectively and jointly cultivated by the members themselves on behalf of the cooperative society.8) Co-operative Union: - Principal objective is the undertaking of Co-

operative Education, Propaganda and Training.9) Apex Co-operative Society: - Their principle object is the

promotion of the principal objects and provisions of facilities for the operation of other co-operative societies affiliated to it.


The prime necessities of human beings are food, clothing and shelter and housing cooperative is an essential for human existence as much food and clothing. Housing is a significant subject having a concern with a common man. One of the important problems faced by India is the housing problem. The reasons are varied, like tremendous growth in population, migration from rural to urban areas. Highly speculative trend in the cost of land, weakening of joint family system thus creating a requirement of a separate house for each family unit etc. Housing is an important sector, with a direct connection to human welfare and economic linkages to the construction industry. The National Housing & Habitat Policy has been formulated to address the issues of sustainable development, infrastructure and strong public-private partnerships for shelter delivery. The objective of the policy is to facilitate the construction of two million dwelling units each year. It is envisaged that Government would provide fiscal concessions, carry out legal and regulatory reforms and create an enabling environment. The private sector would undertake actual construction activities. Policies in the area of housing finance have been a key vehicle through which home ownership has been promoted. Income tax exemptions have been given to households building or purchasing homes; financial institutions and builders have been given fiscal incentives to build housing for low-income groups, and investors in housing finance companies have been given tax breaks. HUDCO (Housing urban Development Co-operative) plays a major role in the implementation of government policies on housing. It has been entrusted with the implementation of the following programmes: Low Cost Sanitation. Night Shelter for Footpath Dwellers. Building Centres. Shelter Upgradation under Nehru Rozgar Yojana (NRY) and Valmiki Ambedkar Awas Yojna (VAMBAY). HUDCO has been allocating 55 per cent of its housing loans for Economically Weaker Sections (EWS) and Lower Income Group (LIG). Over 92 per cent of the dwelling units sanctioned by HUDCO are meant for EWS and LIG. Out of a target of construction of 20 lakh additional houses, 7 lakh houses would be constructed in urban areas and 13 lakh in rural areas. HUDCO is expected to meet more than 55 per cent of the urban housing target, i.e., 4 lakh units. The cooperative housing sector plays an important role. All the 26 State- level Apex Cooperative Housing Federations are members of the National Cooperative Housing Federation (NCHF). At the grassroot level,

30,410 primary housing cooperatives are affiliated to State-level federations. These federations obtain loans from various financial institutions for on-lending to their member housing cooperatives as well as individual members for construction/acquisition of dwelling units. These federations have borrowed a sum of Rs.6.882 crores from LIC, HUDCO. National Housing Bank, cooperative banks, etc. and disbursed loans of Rs.7,371 crores to primary housing cooperatives and individual members, thereby assisting in the construction of about 22 lakhs. Co-operative housing emerged as a strong, well organized and significant in order to. Solve the housing problem of common man. These are legally established association of persons and are democratically controlled by the members. The working group on housing co-operatives has therefore said that, co-operative activity is the best means of providing decent houses at reasonable costs to persons, particularly of low and middle income groups. Mumbai is the 3rd largest density populated city in the world and the prices of the land and construction is becoming unaffordable to the common man. They also say that man is a social animal and is incomplete without a social fabric. A persons lifestyle, his culture, his social status all are determined on where he stays.

Definition of Housing Co-operatives"Co-operative housing society" means a society of persons(a) which is formed for all or any of the objects referred to in section five of the act 1958; (b) which has under its rules a share capital divided into equal shares of one or more classes and not being preferential shares; and (c) which under its rules is to terminate on a specified date or when a specified object is attained or a specified event occurs- but does not include a Starr-Bowkett society, that is to say, a society in which the order of advances to members is determined either solely or partly by the drawing of lots.

ORA housing Co-operative is also defined as an association run along with co-operative principles (Voluntary membership, democratic member control, member economic participation, autonomy and independence, education, training and information, co-operation among


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