Cooperative Housing society V/S Apartment association & Which is better?

Dear Friends ,

Today  I learnt about ;what is the difference  between Cooperative Housing Society and Apartment association . It is very interesting to know the fact that some of the points we never know even we live with either cooperative Housing society or Apartment association .  Even point came in the mind that which is better among both . So here simple comparison given point wise point for both the category and as per my opinion Cooperative Housing society is better . 

Cooperative Housing society

1.  Generally, require minimum 10 members /Flats to form CHS
2.   In society, Society is the owner of the property and all the flat holders are its members
3.   Upon Formation and transfer the entire land along with apartment are transfer in factor  of society builder will lose total control over society
4.   Flat on Rent - In a society, permission of managing Committee including “Police verification " and Register L&L is requiring.
5.  In case of Society, the builder cannot retain any right on any of these areas and must hand over everything to the society.
6.  Rules of 'Society" are binding on all the residents and nobody can follow his /her whims .So if the society decides to ban any objectionable commercial activities in the flats ( Such as noise -making music classes or using the flat for catering activities etc.
7.  The Society disputes are resolved in a separate court (dedicated to cooperative society matters) and hence they are fast resolved.
8.  VOTING RIGHTS: In a society, every member has one vote, irrespective of the area of his premises.
9.  Share Certificate - A society issue certain shares to its members as per the Bylaws and the share certificate becomes an important title deed, since the allotment of the premises are related thereto.
10. Redevelopments - When the building contemplates redevelopment after 30 or more years, the society's decision will be final and hence the Society members will have negotiation power with the builder at that time.
11. if the society is formed, then the increased FSI will be owned by the society and the builder does not have any right on it

Apartment association

 

1.  There are at least five apartments in the building even one person who owns the entire building can forming
2. In Apartment, the share of the flat holder is different (proportionate) as per his/her area of Flat occupation
3. Each individual owner has control on their flat only. Builder may interrupt in free space area /Further development
4. The owner can give his apartment on lease or leave and license basis without the approval of the Board of Managers
5.   In an apartment, the builder retains the ownership of the open spaces which are not included in the saleable area. Example -Terrace, or any open parking /stairs space which is not included in the saleable area
6.  It is an Apartment, then owners can violate the apartment rules and the apartment body can just file a case in the civil court
7.  The apartment matters must be taken to the normal civil court and hence they typically take years
8.  In a condominium, every apartments owner has a voting right in proportion to the value of his premises, which is generally as per the area of the apartment owners by him and which is defined while forming the condominium
9.  Share Certificate - This is not so in a condominium of Apartments /Buildings.
10. Redevelopment- But if in case of any Apartment, the consent of every Apartment -owner is required and hence it goes into an endless delay due to lack of common decision acceptable to everybody.
11.   If it is any Apartment, then the Builder owns that increased FCI and can use it anywhere. Thus the builder will keep taking advantage of the FSI increase throughout in the future.

👉Pl watch my YouTube line for complete details on comparison

Cooperative Society vs apartment association  

https://youtu.be/aG-JyIdGcM4

https://youtu.be/TF_zgSW_PS8