State introduces fresh rules for co-op housing societies seeking freehold rights
India, June 15 -- The Maharashtra government has introduced fresh rules aimed at streamlining land conversion procedures for cooperative housing societies and widening eligibility for securing ownership rights.
Hitherto, cooperative housing societies seeking ownership rights to leased land (land classified as Occupancy Class II) did not require the consent of members; however, a new order makes it mandatory to obtain the prior consent of at least 51%. The revised rules will also enable societies where land parcels were individually allotted to members to get their land converted to freehold (Occupancy Class 1).
The draft notification was issued by the revenue department on June 4, with suggestions and objections invited from the public ...
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