Housing societies
In general term, the housing society is used to describe the residential type of complexes which is normally consisting of buildings and each having flats especially in India and the name India is basically derived from the Greek indos. All type of housing societies are run on the fees based and charges take levied by them on flat owners or the house. The housing societies are registered with the registrar of co-operatives. Especially in this regard everyone take the own rules.
It is a group of owner's house which is generally residing in the same apartments, building or same premises. Housing societies is also divided into two parts such as social housing and public housing.
Public housing is the form of housing tenure where the property is owned by a government type of authority which may be local or central where as the social housing is the term of umbrella which is referring to the rental housing or it may be owned and it is managed by the state or by a combination of the two. But the main and specific goal of the public housing is to provide the affordable housing, definitions of poverty, and terminology.
Generally, the co-operative housing societies are divided into 4 classifications. These classifications are flat owner's society, open plot society and housing board society and tenant society.
Flat owner's society
Flat owner's societies are those societies which is formed by the members who have purchased the flats with the constructed of buildings by a developer.
Open plot society
In this society the co-operative housing societies is basically to purchase an open plot of land and to construct the flats for their members only.
Housing board society
When the co-operative hosing society is known as the housing board society, then the owner's of the flat buildings are generally constructed by the area development authority
Tenant society
When the tenants generally exists the building joined together and it is the form of co-operative housing society, then it can be registered under this type of category.
India is basically an adhered to a quasi-socialist approach with the strict type of government control over the foreign trade, foreign direct investment and private sector participation. Generally the Indian economy has grown up over the last two decades when it is comparing with different social groups, rural and urban areas and the geographic regions. Overall, the housing trend for the long term has been associated with the help of BPO, IT sectors. But the affordable types of housing does not take the cost more than 30% of the household' growth income.