Housing Cooperative societies were in for a major shock in Noida in Uttar Pradesh on Wednesday when Supreme Court ordered individual registration for every owner as per the present circle rates.
The entire concept of cooperative societies goes for a spin if you are not getting benefit of community living. Several housing cooperative societies are hit by this decisions with the flat owners now obliged to pay anything from one lakh to 6 lakh, according to an estimate.
Flat owners have to get individual registration of flats within the six months, ordered the Apex Court
Noida Co-operative society flat owners had approached the apex court to get some relief but the court rejected their plea.
The Uttar Pradesh Housing and Development Board (UPHDB) had issued a notice to these societies to furnish proper reports till July 23.
Registration amount would vary from area to area as circle rate of posh colonies are higher than that of not so posh areas.