Real Estate Mumbai

Managing a CHS involves understanding the roles of key office bearers, adhering to statutory compliances, conducting meetings, and handling property transactions. Here's a comprehensive guide to assist you:

Roles and Responsibilities of Office Bearers:

1. Chairman:

   • Leadership: Oversees the overall management and functioning of the society.
   • Supervision: Ensures that the society operates within the framework of the Maharashtra Co-operative Societies Act, 1960, and the society's bye-laws.
   • Decision Authority: Holds the final decision-making power in the committee meetings.

2. Secretary:

   • Administration: Manages day-to-day operations, including maintaining records, correspondence, and documentation.
   • Meetings: Calls and records minutes of committee and general body meetings.
   • Compliance: Ensures adherence to statutory requirements and timely submission of necessary documents to authorities.

3. Treasurer:

   • Financial Management: Handles the society's finances, including budgeting, accounting, and financial reporting.
   • Fund Management: Oversees the collection of maintenance charges and other dues, and manages the society's bank accounts.
   • Audit Coordination: Coordinates with auditors for the annual audit of the society's accounts.

4. Managing Committee Members:

   • Support: Assist office bearers in their duties and participate in decision-making processes.
   • Sub-Committees: May be part of various sub-committees formed for specific functions like maintenance, cultural activities, etc.

Statutory Compliances:

• Registration: Ensure the society is registered under the Maharashtra Co-operative Societies Act, 1960.
• Bye-Laws: Adopt and adhere to the Model Bye-Laws as prescribed by the Maharashtra government.
• Audits: Conduct annual audits and submit audit reports to the Registrar within the stipulated time.
• Annual Returns: File annual returns and other required documents with the Registrar.

Meetings:

• Managing Committee Meetings:

  • Frequency: Typically held monthly to discuss and manage the society's affairs.
  • Notice: The Secretary should provide at least 3 days' notice to committee members.

• Annual General Body Meeting (AGM):

  • Timing: Must be held before September 30th each year.
  • Notice: Members should receive a minimum of 14 days' notice prior to the AGM.
  • Agenda: Includes approval of accounts, budget discussions, election of committee members (if due), and other significant matters.

Property Transactions:

• Transfer of Flats (Sale):

  • Application: The seller must submit a transfer application to the society along with the necessary documents, including the sale agreement, NOC from the society, and transfer fees.
  • Approval: The managing committee reviews and approves the transfer as per the society's bye-laws.
  • Documentation: Update the share certificate and membership register to reflect the new member's details.

• Society NOC for Lease:

  • Application: Members intending to lease their flats must apply to the society for a No Objection Certificate (NOC).
  • Documentation: Provide details of the tenant, lease agreement, and police verification.
  • Approval: The managing committee grants the NOC after verifying compliance with the society's rules and regulations.

Additional Considerations:

• Maintenance Charges: Ensure timely collection and proper utilization of maintenance funds for the upkeep of the society.
• Dispute Resolution: Establish a grievance redressal mechanism to address member concerns amicably.
• Insurance: Consider insuring the society's building and assets against potential risks.

Adhering to these guidelines will facilitate the smooth functioning of your Co-operative Housing Society in Mumbai. Regular communication, transparency, and compliance with statutory requirements are key to fostering a harmonious living environment.