Maha state to have separate office for cooperative housing societies

By Accommodation Times Bureau MUMBAI The State Cooperation Minister, Subhash Deshmukh on Monday said that the Maharashtra government will set up a different office for issues related to cooperatives housing societies to safeguard the interest of residents. Deshmukh informed that “The new chapter will be ready in 3-4 months. Some new rules will

GST for Housing Societies in Maharashtra

By Accommodation Times Bureau Registration : A Co-op Hsg Society is required to be registered under GST if the Aggregate turnover exceeds Rs 20 lakhs annually. Aggregate turnover shall include all taxable and exempt services. Aggregate turnover means all billing other than Municipal Tax & Sinking Fund, but includes Interest received from

State Govt may reduce rent for Mumbai housing societies on govt land

    By Accommodation Times Bureau     MUMBAI     The state government is considering reducing the lease rent charges to housing societies built on government land, said Chandrakant Patil, Revenue Minister, on Saturday.   At present,  the state government charges a rent of 2 % of the ready reckoner rates.     “The demand for concession is right and

Impact of GST on Housing Societies

By Accommodation Times Bureau   Multiple taxes, even across state borders, has always been known to make trade in India expensive and complicated. GST (Goods and Services Tax) is a fiscal reform being made to introduce a single taxation system across the entire nation. Manufacture,distribution, and provision of goods and services, fields

Housing societies on govt plots may get ownership in Maharashtra

By Accommodation Times Bureau The state revenue department is likely to allow conversion of collector land to freehold plots upon payment of a premium. The move would benefit around 3,000 housing societies in Mumbai alone. There are around 22,000 such societies across the state. Salil Rameshchandra, a resident of Chembur's Shivshristi housing society, said conversion

50,000 housing societies in Mumbai waiting to get land ownership documents

By Accommodation Times Bureau Near about 50,000 housing societies in the metropolitan region ; in the lack of the ownership of the land ,on which their buildings stand; are facing difficulties in claiming the permissions for redevelopment or maintenance. Home buyers and activists are now demanding that the Maharashtra Ownership of Flats Act (MOFA)

Co-operative Housing Societies are not subject to RTI Act

By Dr Sanjay Chaturvedi, LLB, PhD Accommodation Times Bureau In a retrograde judgement in the case of C. P. DHARMESH V SUSHIL KUMAR & ORS (ESIC FRIENDS C.G.H.S.LTD.) the Central Information Commission (CIC) has held that the Cooperative Housing Societies of Delhi are not pubic bodies since they are not funded by the Govt hence

New election procedure for cooperative housing societies

By Accommodation Times News Services By Sunil Deshmukh District Deputy Registrar (Retd.) For K.K. Ramani & Associates The Government of Maharashtra has amended the Maharashtra Cooperative Societies Act, 1960 in 2013 and introduced new election procedure for cooperative housing societies. We have explained the procedure as per the Act regarding elections to be conducted by

Taxability of development rights in the case of housing societies

By Accommodation Times Bureau Commissioner of Income Tax-18 Vs. Sambhaji Nagar Co-op. Hsg. Society Ltd., Income Tax Appeal No. 1356 of 2012   Introduction: In Mumbai, hundreds of Co-operative Housing Societies are functioning whose buildings have become old and dilapidated due to age. The societies lack finance and technical expertise to repair their buildings. The societies therefore seek the