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Exercises · Q9

Q.Explain any four advantages of a housing co-operative society.

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A housing co-operative society offers several important advantages to its members and to society:

  1. Affordable housing — By buying land in bulk and building many homes together, the society brings down the cost per member far below a private builder's price, so a person of small means can own a decent home.
  2. Freedom from private builders and landlords — Members escape the high prices and heavy profits of private builders and the insecurity and rising rents of living under private landlords.
  3. Easy finance — The society arranges large, long-term loans from housing finance bodies, banks and government schemes and passes the benefit to members on easy instalments, which an individual could rarely obtain alone.
  4. Security of ownership and tenure — A member gets a home of his own, or a secure long-term right to occupy a flat, giving his family stability, dignity and freedom from the fear of eviction. …

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