A society, whose objective is to promote economic interests or the general welfare of its employees or of the public, in compliance with co-operative standards, or a society set up with the object of working with the activities of any such society might be registered under the Act

A co-operative society is the ideal fit for a private structure as flat proprietors have normal requirements like water association, guards, etc. and interests like maintenance of common regions, like the terrace and compound. Assuming you've bought a flat in another building, it would presumably be ideal if you looked into framing a society. The builder may likewise be legally obliged to frame a society. For instance, under Maharashtra Flat Ownership Act, 1963, a builder should shape a society within four months from the date when 60% of the flats are sold.

Registration Process

First general meeting (before registration)
In first gathering under Societies Model Bye Law 3(iii), the Chief Promoter (can also be a builder) is chosen by the promoters, who are individuals co-signing the registration application in the presence of Registering Authority, under Bye-law 3(xii). In this gathering, important resolutions are passed like opening a bank account for the sake of the proposed society and for getting authorization for reserving society’s name. It is necessary for SRA/MHADA recognized societies, for the first gathering to be video recorded.

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