8 Advantages of living in a CHS

All the members of a cooperative housing society contribute their share for keeping the society up and running. This collective contribution not only equips the society members with good support to upgrade their living but also significantly reduces the individual cost of living by dividing these expenses amongst all members. Thus, a CHS provides better amenities at a relatively lower cost.

Each member has a say in all of society’s matters. The participation is membership-based and not share-based. Hence, no matter how many units are owned by a member, their opinion is counted as one vote.

All daily operations, financial management, and infrastructure control rest with the members unlike other forms of housing in which the control is with a builder or a landlord, or an organization. This allows freedom for the members in deciding their vision for the development of the premises they are living in. All in all, it boosts transparency by eliminating any kind of monopolistic middle entity.

A managing committee is elected through fair and timely elections from amongst the members of the society. This committee is then responsible for carrying out tasks on behalf of the members as well as consulting and discussing with all members for major decisions. The members can then either show their approval or present their disagreement. The implemented decisions are a result of majority support.

Individual members within a society can keep changing but the registered society continues as a legal entity for the long term. It is not dissolved in the event of insolvency, lunacy, permanent incapacity, or death of any of its members. Records created over the life of a society are also accessible in long term. It thus provides consistency and stability in governance as opposed to other housing structures.

The regulating structure for cooperative housing societies lists the minimum necessary meetings to be held within the managing committee as well as with all society members. This was put in place to ensure open communication, collaboration, and transparency of work. Also, for every new implementation, the managing committee is required to convey the same to all society members either via a broadcast medium like a notice board or via some form of targeted communication. Society’s working records are accessible to all valid members for reference or inspection at any time.

A cooperative housing society is registered as a non-profit organization and hence breaks free from the profit-driven way of managing an entity. The focus is collective development. Members’ contributions are the main form of revenue and are invested in the welfare of all society members instead of focusing on multiplying the society’s wealth. It is used for maintenance activities or for building new amenities as deemed necessary resulting in a better living environment for all of the society members.

Housing societies provide a safe and secure environment to live in since every membership is allotted only after thorough screening and scrutiny. Also, the incoming tenants undergo a background check and police verification before subletting any existing units. Moreover, since cooperation is at the heart of a CHS, it provides a harmonious community living experience.