Q.Explain the four main types of housing co-operative societies.

Housing societies are classified by how the land and houses are owned and how the society helps the member.

Housing co-operative societies are classified according to how land and houses are owned and how the society helps its members into four main types:

1. Tenant-Ownership Housing Society — The society acquires or leases a large piece of land, develops it with roads, water and drainage, and allots a plot to each member. The member builds and owns his own house on his plot, while the society continues to hold the land and maintain common facilities.

2. Tenant-Co-partnership Housing Society — The commonest type in cities. The society owns both the land and the buildings, constructs flats and allots them to members. The member holds shares and occupies a flat as a tenant-owner, but legal ownership of the flat stays with the society.

3. House-Mortgage Housing Society — This type does not build at all. It advances long-term loans to members against the mortgage of their land or house, so that each member can buy a plot or build a home of his own. The property is owned by the member; the society only finances him. …

A common mistake is to describe all four types identically. Bring out the point of difference for each — tenant-ownership vs. tenant-co-partnership is about who owns the house, house-mortga …