What is a housing cooperative?

A housing cooperative is a legal entity formed by a group of individuals who collectively own and manage residential property. Instead of owning a flat or house directly in their own name, members hold shares in the cooperative society, which gives them the right to occupy a specific unit.

Key Features of a Housing Cooperative

• Collective ownership by members
• Members hold shares in the cooperative society
• Right to occupy a specific unit linked to membership
• Property is owned by the cooperative, not individuals
• Democratic decision-making system
• Shared maintenance and management responsibilities

Types of Housing Cooperatives

Tenant Ownership Cooperative

Members collectively own the land and building, and individual units are allotted for occupancy based on shareholding and allocation rules.

Tenant Co-Partnership Cooperative

Members hold shares in the society, while the cooperative itself owns the land and structure. Occupancy rights are linked to membership.

Housing Construction Cooperative

The society takes responsibility for constructing housing projects for its members, and units are allotted after completion.

A housing cooperative is a collective housing system where members jointly own and manage residential property through a cooperative society. Occupancy rights are granted based on shareholding rather than individual ownership of the unit.