cooperative housing


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cooperative housing

n. an arrangement in which an association or corporation owns a group of housing units and the common areas for the use of all the residents. The individual participants own a share in the cooperative which entitles them to occupy an apartment (or town house) as if they were owners, to have equal access to the common areas, and to vote for members of the Board of Directors which manages the cooperative. A cooperative differs from a condominium project in that the owners of the condominium units actually own their airspace and a percentage interest in the common area. In a cooperative there are often restrictions on transfer of shares such as giving priority to other members, limits on income or maximum sales price. (See: cooperative, common area, condominium)

References in periodicals archive ?
According to the official source within Ministry of Interior, forensic audit of 41 Cooperative Housing Societies registered with Cooperative Societies Department, ICT Islamabad is underway which deals with them under Section 10 of the Cooperative Societies Act, 1925.
'NAB has decided to send the case against the management of Multi-Professional Cooperative Housing Society and a CDA official for purchasing land in Sarai Kharboza at exorbitant rates to the CDA for action under the authority's laws,' said an official press release issued by the NAB headquarters.
Contract notice: realization of 17 cooperative housing and two business premises in paris 20 e
During the briefing, representatives from Chiniot Cooperative Housing Society, Mumtaz Housing Scheme, Islamic Research Scholars Cooperative Housing Society, Board of Revenue Employees Cooperative Housing Society and Punjab Civil Servants Employees Cooperative Housing Society explained their reservations for attaching their lands into LDA's mega project.
On this occasion, representatives from Chiniot Cooperative Housing Society, Mumtaz Housing Scheme, Islamic Research Scholars Cooperative Housing Society, Board of Revenue Employees Cooperative Housing Society, and Punjab Civil Servants Employees Cooperative Housing Society expressed 'reservations for attaching their lands into LDA's mega project.' After listening to all the parties, DG NAB ordered to call administration of Chiniot Cooperative Housing Society in the next week for briefing since they had failed to develop land and deliver plots to general public since 1987.
Islamabad -- The District Administration has violated all the rules and regulations in the elections of Jammu Kashmir Cooperative Housing Society to make a corrupt candidate successful.A number of objections were made on Naseem Anjum, the candidate for Vice Chairman, but the District Administration ignored all of them.
KARACHI: As many as 603 cooperative societies in the port city have been non-functional since day one and a majority of them are allegedly involved in cheating the general public by selling them non-existent plots, according to an official document.The revelation was made in a letter issued by the Cooperative Societies Deputy Registrar on March 13, according to which a number of fake cooperative housing societies are fraudulently selling non-existent plots".
ISLAMABAD -- The Capital Development Authority (CDA) while declaring over 15 housing societies, including Ministry of Interior Employees Cooperative Housing Society (MIECHS) defaulter and directed them to pay Rs1.
He said this while addressing at Seminar which was organized through cooperation of Balochistan Agriculture and Cooperative Housing Societies.
ISLAMABAD -- National Accountability Bureau (NAB) Rawalpindi has filed a reference against the management of Ministry of Commerce Employees Cooperative Housing Society and others.
The meeting reviewed the progress of the on-going inquiries, investigations being conducted by NAB against illegal private and cooperative housing societies and the steps taken by Capital Development Authority (CDA), Rawalpindi Development Authority (RDA) and Islamabad Capital Territory (ICT) against illegal private and cooperative housing societies, which are mushroomed in the twin cities of Rawalpindi and Islamabad.
The Informal Sector Cooperative Housing Loan Scheme also known as 'The Coop Loan Scheme' is a product of the NHF Scheme, designed to accommodate non-salaried informal sector Nigerians through co-operative societies to join the National Housing Fund and avail themselves the opportunity of becoming proud home owners.

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