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Housing Society Problems & Solutions: Fighting Abuse of Power by Managing Committee and Clarification on Repair and Sinking Fund

It is no secret that corruption runs rampant where power is centralised. In the case of cooperative housing societies (CHS'), certain dishonest members or office bearers sometimes embezzle funds for personal use, or they may abuse their position and power to favour some members of the Society.

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Housing Society Problems & Solutions: Redevelopment with an Ownerless Flat and Applicability of Common Maintenance Charges

When a cooperative housing society (CHS) opts for redevelopment of their building, a consensus is required among members. A developer agreement and an agreement for permanent alternate accommodation (PAA) is signed by the owners with the approved builder.

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RBI Allows Reset of Floating Interest Rate on EMI-based Personal Loans

Reserve Bank of India (RBI) has issued guidelines to reset equated monthly instalments (EMIs) based on floating rate personal loans, including allowing borrowers to switch over to a fixed rate as per the bank board approved policy. Moneylife Foundation has been relentlessly campaigning against arbitrary and opaque bank policies concerning floating rate loans and also filed a public interest litigation (PIL) in the Supreme Court.

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Housing Society Problems & Solutions: Redevelopment of a Pagdi Building and Addressing Excessive Noise from Neighbouring Flats

Redevelopment is the go-to solution for old, dilapidated buildings, as it offers a win-win situation for both the builder and the residents. However, there are certain prerequisites and procedures that societies and residents need to follow to avoid complications in the future.

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Housing Society Problems & Solutions: Absentee Fee for Missing AGMs & Illegal Objection to Renovation Work in Flat

Every cooperative housing society (CHS) has to hold an annual general meeting (AGM) according to the model bye-laws set in place by the government. Such meetings are designed to take stock of the yearly activities of the Society, keeping members apprised of the critical developments and overall financial accounts, thus fostering accountability, transparency and smooth functioning of the Society as a whole.

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Banks Should Show Greater Transparency in Resetting Interest Rates on Loan EMIs: RBI

Reserve Bank of India (RBI) has decided to put in place a proper conduct framework to be implemented by all regulated entities (REs) to address issues faced by the borrowers, especially about interest rate reset on equated monthly instalments (EMI) for floating interest loans. Moneylife Foundation has been relentlessly campaigning against arbitrary and opaque bank policies concerning floating rate loans and filed a public interest litigation (PIL) in the Supreme Court.

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Congratulations! Your Privacy Is Officially Compromised with No Remedy

“Congratulations on your new start up!” “Congratulations!! Few More Things For Your New Venture!!” Isn’t this a wonderfully welcoming way to receive an announcement that your company has been registered? But hang on. You have got it all wrong.

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Sahara Cooperative Societies' Depositors Can Submit Refund Claims Through Ministry Portal: Govt

Depositors of the Sahara group credit cooperative societies - Sahara Credit Cooperative Society Ltd, Saharayn Universal Multipurpose Society Ltd, Humara India Credit Cooperative Society Ltd and Stars Multipurpose Cooperative Society Ltd, can submit claims for refund on the new portal set up by the Union ministry of cooperation, the Lok Sabha was informed.

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Housing Society Problems & Solutions: Illegal Non-Occupancy Charges and Expenses for Leakage Repair

Among the various charges that are payable by a member of a cooperative housing society (CHS) are non-occupancy charges. These charges apply to properties not occupied by the owners or their family members. The basis for calculating these charges are costs such as maintenance lift, electricity charges for common areas, security and other common amenities.

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Housing Society Problems & Solutions: Alternatives to a Succession Certificate and Illegal Sale of Open Space for Parking

A succession certificate is a legally binding document required to support any claim on the estate of someone who passed away intestate (without a Will). The district court issues such a certificate and a comprehensive inquiry is carried out to verify the claimants' credentials before it may be issued.

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