Society Management Services

Society Management Services For Societies

Managing society is a tremendously time-consuming job that requires responsibility. In addition, you need to have an in-depth knowledge of the management and legal factors that control society’s activities. Most of the time, members voice concerns, queries about routine business matters, operations monitoring, and queries about committee decisions.

  1. Society Accounts, Audit & Statutory Documentation and Compliances.
    We offer complete accounting services for housing societies, including data entry, bookkeeping, bill collecting, and financial report creation. Our team of society accountants includes seasoned legal counsel, society managers, and cooperative society consultants. This guarantees that we are according to the law, that our documentation is accurate, and that the housing society is financially stable while being prepared for the future.Computerized Members Contribution Bills, Quarterly / Monthly. Computerized monthly receipts for the amount that members have paid.Monthly Membership Gathering, Acknowledgment, and Merit Report.  Creation of General Ledger, Cash Book, and Bank Book Generation.

    Trial balance, balance sheet, income and expenses, and receipts and payments. Accounts are completed at the end of the year. Any additional accounting standards as required.
    This could involve problems such as:

    • Usage of Funds
    • Routine Maintenance Concerns
    • Recovering Dues
    • Inadequate awareness of Bye-Laws
    • Disputes between Members
    • Society Election

     

  2. Formation of Maintenance & Betterment Service Society
    As the Co-operative Department for Housing Societies, an apartment condominium lacks an administrative body of the government, so day-to-day operations are limited. Even for minor issues, the condominium must file a case with the Court of Law (Civil Court). In the long run, these restrictions make it more difficult to collect maintenance fees from noncompliant unit owners. On the contrary, in the case of society, there is a remedy for recovery through the Housing Federation or the Deputy Registrar. In the case of apartment condominiums, this is not feasible, which ultimately results in losses and distress for the entire community.Typical difficulties encountered are:
    • Recovering maintenance funds
    • Hassel’s running smoothly
    • Judicious and appropriate use of cash
    • Problems with tenant management
    • Providing a legal entity to apartments for management

Society Management Services For Developers

Managing society is a tremendously time-consuming job that requires responsibility. In addition, you need to have an in-depth knowledge of the management and legal factors that control society’s activities. Most of the time, members voice concerns, queries about routine business matters, operations monitoring, and queries about committee decisions.

  1. Society Registration & Handover
  2. Both parties must be committed to and involved in the tedious and complicated process of handing over control from the builder to the cooperative organisation. Typical difficulties faced by developers when registering with and handing over to societies are:
    • Committee Members’ Refusal to Accept Society’s Transfers
    • Challenges arising from insufficient or improper knowledge of Committee Members
    • The entire handover procedure is a tedious task
    • Difficulties in Transferring Funds to Society?
    • Because they don’t know enough about RERA laws, committee members are unduly intimidating.

  3. Execution of Conveyance Deed
  4. The Developer shall transfer (convey) the ownership rights of the land and building in favour of the Society within 4 months of the date of Society Registration, in compliance with the provisions of the Maharashtra Ownership Flats Act 1963 (MOFA), which is an Amendment under sub-section (3) of section 11 of the Maharashtra Ownership Flats (Regulation of the Promotion of Construction, Sale, Management, and Transfer) Act, 1963 and the Real Estate Regulatory Act 2016 (RERA). Common difficulties that developers experience are:
    • Not enough time to complete the papers
    • Lack of time to coordinate with society members
    • Insufficient details about how to carry out conveyance on large-scale projects

  5. Consulting Services in Project Management for Redevelopment Projects
  6. The Developer shall transfer (convey) the ownership rights of the land and building in favour of the Society within 4 months of the date of Society Registration, in compliance with the provisions of the Maharashtra Ownership Flats Act 1963 (MOFA), which is an Amendment under sub-section (3) of section 11 of the Maharashtra Ownership Flats (Regulation of the Promotion of Construction, Sale, Management, and Transfer) Act, 1963 and the Real Estate Regulatory Act 2016 (RERA). Common difficulties that developers experience are:
    • Not enough time to complete the papers
    • Lack of time to coordinate with society members
    • Insufficient details about how to carry out conveyance on large-scale projects

  7. Consulting Services in Project Management for Redevelopment Projects
  8. In recent times, the real estate sector has experienced significant setbacks. The demonetization process, the worldwide economic downturn, and the ongoing pandemic have caused builders to reconsider their large-scale project investments in the annexe regions. For builders, the return on investment on such projects remained highly uncertain. For many, redevelopment has also given them fresh hope. Redevelopment initiatives offer the ideal foundation for recovery. Developers have a special opportunity with redevelopment. Redevelopment is a very profitable and attractive choice for developers because there is no upfront land expense. In addition, developers can make use of further benefits offered by the Maharashtra government’s recently implemented UNIFIED DEVELOPMENT CONTROL PROMOTION REGULATIONS (UDCPR). Developers face a challenging task in meeting the demands of Society members and selecting the ideal property. Among the typical difficulties developers experience are:
    • Finding the appropriate properties
    • Strong competition
    • Society member expectation
    • How do we get everyone on the same platform so we can make decisions together?
    • Getting the final vacant possession, etc.

  9. Joint Specialized Services
  10. Complex project handovers and society registrations are typically challenging for developers to complete. Developers desire to hold onto certain rights when undertaking complicated and large-scale projects. When developers opt to redevelop, the same issues arise. Some challenges are the following:
    • knowledge of certain services, such as decision-making or amalgamation, etc.
    • Inexperience of the procedure and documentation involved.
    • Communication regarding the execution procedure’s problems to the cooperative department.

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