2016 New Year Hope for Karnataka House Building Cooperative Societies

2016 New Year New Hope for Karnataka House Building Cooperative Societies

I refer to my blog published in March 16th of 2015 with title Good news for Karnataka House Building Cooperative Societies.

I had mentioned few points in the blog. TOI Bangalore-Edition has published  good news on 29th ,Dec 2015.

“House building cooperative societies needn’t wait long for allocation of land to carve out layouts. The Karnataka government is planning to amend the Karnataka Co-operative Societies Act, 1959, to empower these societies to purchase land directly from farmers. The land wait sometimes stretches into decades, frustrating investors. Also, the government intends to bring in single window clearance for HBCS and speed up layout formation process, a minister said”

I am listing those points again

Government should consider following factors while doing any amendments in the existing co operative housing society act.

1 Change of usage of land should be done on a single window scheme by appointing a separate agency. This would cut down time spent in processing all documents among various departments.

2 Large parcel of land should be permitted for change of   usage of land

3 Percentage of Associate membership should be increased in order to facilitate outsiders with state domicile to buy plots from these housing societies.

4 Plot should be allotted and registered within one year from the date of payment of all installments. Otherwise interest should be paid on the total amount for delayed

5 Developer should register all plots in the name of society. Last minute tussle between Developer and Society should be avoided.

6 Society should not charge additional amount on the basic land cost as mentioned to its members.

7 Society should publish its progress report on acquisition of land and development activities on periodic basis to its members.

8 Members Investment should be safeguarded in proportion of land acquired by the society.

9 There should be transparency on the percentage of money spent from the members installments made to society.Money collected should not be diverted to other projects of the society.