If you are planning to buy a home or rent a flat in Maharashtra, the Maharashtra government has updated its Maharashtra Co-operative Societies Rules, 1961, bringing in new rules for co-operative housing societies that will affect flat owners and residents across the state.
The revised rules aim at improving transparency, streamlining society administration, and reducing disputes over maintenance charges, succession, redevelopment, and overall society management.
Major changes every flat owner and tenant should know in Maharashtra:
- If maintenance payments are delayed, housing societies can now charge interest of up to 12 per cent per year.
- Societies can charge non-occupancy fees of up to 10 per cent of the service charges. The revised rules also specify the fees societies are permitted to collect, including maintenance, water, parking, and lift charges.
- Moreover, If a flat owner dies, the nominated person can apply for temporary membership by submitting the required documents. If no nominee has been appointed, the society must issue a public notice inviting claims from legal heirs before transferring ownership. If there is any property dispute, the transfer can take place only after the rightful legal heir is found.
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- Members residing outside their city or abroad can now attend society meetings virtually. However, the existing quorum requirements will continue to apply.
- Housing societies undertaking self-redevelopment can now borrow up to 10 times the value of their land, based on a valuation carried out by bank-approved valuers.