Besieged in court cases and paucity of fund, apex body of co-op housing in the country National Cooperative Housing Federation of India (NCHF) held its 184th board meeting in Bhopal, in which the state Cooperative Minister Govind Singh participated.
It is learnt that the sector is facing huge challenges including land availability, lack of fund and recovering loans from members. Over 30 thousand member societies are linked with the 25 state level cooperative housing federations in the country.
According to the latest data, more than 33,000 cases of Maharashtra’s four lakh registered cooperative societies including residential, industrial and commercial are still pending. The cases are being fought in different courts between managing committees and their members.
The board, however discussed the forthcoming election of housing federation. Speaking on the occasion co-op minister assured the government would help the federation diversify their activities so as to improve the financial condition of the state housing federation. The pending construction work will be given to state cooperative federations, he asserted.
Singh noted that ”the cooperative movement has grown weak in the past few years but our government will strengthen the movement in the near future.
On his twitter wall Minister wrote, “Has said that the cooperative movement in Madhya Pradesh has suffered a lot in the last few years. He said that the cooperative movement will be intensified in the next one and a half years. Singh said that State Cooperative Housing Association elections will also be held soon. # JansamparkMP”
The meeting was presided over by NCHF Chairman SN Sharma. He said new projects need to be taken up to strengthen the housing federations financially. There is also a need to appoint funding institutions that could provide housing federations with funds for construction work at a reasonable rate of interest.
Several resolutions were unanimously passed during the meeting including making state level apex federations as the construction agency. There are 25 state level apex housing federations in the country.
NCHF CEO N S Mehara, Director Mudit Verma, MP State Cooperative Housing Federation MD R K Sharma, Chairman and MD of difference state level federations and others were present on the occasion.