The Maharashtra government has released a fresh draft of cooperative housing society rules, aiming to enhance governance, transparency, and inclusivity. Key reforms include provisions for heirs, virtual AGMs, and financial reforms.
Cooperative HousingMaharashtraHeirsFinancial ReformsRedevelopmentReal Estate NewsJun 23, 2025
The draft rules propose that heirs or nominees of deceased flat owners can participate in general body meetings as ‘provisional members’ until formal ownership is established. However, they will not be allowed to vote until their legal status as owners is confirmed.
Yes, the draft rules permit virtual attendance at annual general meetings (AGMs) to encourage wider member participation. However, the traditional quorum requirement remains unchanged.
The draft reduces the penal interest rate on unpaid dues from 21% to 12% per annum. Societies will also be empowered to raise loans of up to ten times the land cost for redevelopment purposes.
Common service charges will be divided equally among all flats, while water charges will be calculated based on the number of taps in each unit. Societies will also be required to maintain a sinking fund and a repair and maintenance fund.
Societies will be allowed to fill casual vacancies in the managing committee without seeking the registrar’s permission, reducing administrative bottlenecks.
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