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Lahore Real Estate Forum: Property News & Community Talk : ,

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Wednesday, February 3, 2010 08:28 AM 
Reply: >
HELLO ALL

"CAN A MEMBER OF COOPRATIVE HOUSING SOCIETYIS DEMANDS EXTRA MONEY AS PROFIT /INTREST FROM SOCIETY AGAINT HIS DEPOSITED MONEY."

ANYBODY GUIDE ME IN THIS REGARD BY QUOTING RULES & REGULATIONS.

THANKS IN ADVANCE.
Kaleem replied on Wednesday, February 3, 2010 09:40 AM 

Why not, if you have membership for 20 years and the cooperative society has not developed and hand over the plot to you as promised then its your right to ask for the market value as in the adjacent schemes. I noticed most of the Cooperative Societies has not developed the schemes and did not hand over the plot even after 20 years.
Raja replied on Wednesday, February 3, 2010 01:07 PM 

Dear Mr Kaleem, plz quote authority for claiming the market value
Aamir replied on Wednesday, February 3, 2010 06:29 PM 

A member of a housing society may claim interest but not exceeding Rs. 20,000/-. There is no such thing as "market value" in by-laws of a cooperative housing society.

Under the section 6 (b) of Co-operative Societies Act, 1925.
No member shall

6 (b) have or claim any interest in the shares of the society exceeding three-thousand rupees: provided that if the society is a housing society a member may have or claim an interest in the shares of the society not exceeding Rs. 20,000.
A.M.BUTT replied on Friday, February 5, 2010 06:46 AM 

This is what we will claim from DHAI including land charges as per market value and court expen-exc- for overseas block members if DHA failed to give the position of the plots as per agreement, after three years of period thrugh suprime court and you know how much amount in US dollars DHAI collected and still collecting by the name of installments.I hope more people will contact me in this regard.we are eight members (5 from Qatar Two from UAE and one from USA ) I am inviting requesting more people only overseas pakistanies to join us.contact ()
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