What Is A Co-Operative Society?
Cooperative societies are one kind of business organization among many others. The goal of cooperative societies is to provide assistance to their members. This kind of business organization is mostly founded by the less fortunate segments of society to guard against any kind of exploitation by the more affluent segments of the community. To operate as a legal body, cooperative societies must be registered in accordance with the Cooperative Societies Act, 1912. Individuals within the society generate their own capital. What Is Housing Society? Housing society is a residential complex that typically consists of multiple buildings, each housing a specific number of apartments. In a housing society, homes and property are owned by an organization or body and subsequently sold to inhabitants as shares. This is an alternate type of property ownership. The housing society develops and builds houses on the site, which is owned by the entity, before distributing them to its members....