Exercises · Q9
Q.Explain any four advantages of a housing co-operative society.
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Start your 14-day free trial to unlock the full solution →A housing co-operative society offers several important advantages to its members and to society:
- 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.
- 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.
- 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.
- 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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