Question

The ratio of loan disbursement instalments by HOUSEFED is:

• A. 20:50:30
• B. 30:40:30
• C. 40:30:30
• D. 30:30:40

Answer 1

Answer:

B. 30:40:30

Co-operative Housing Societies:

• As Per Rule 15(1) (1A) of KCS act 1969 mentioned Co-operative Housing Societies

• The housing societies in India has 3 tier structure.

• Birth place of Housing Society - England

• There is no Co-operative Housing Societies in Travancore - Cochin State at the formation of Kerala State.

• First Co-operative Housing Society in Kerala - Kannur

• The first Co-operative Housing Society in India - Saraswath Co-operative Housing Society in Bombay, 1905

• Co-operative Housing societies come under the classification of Non Agricultural Credit societies

• Housing societies are formed either for securing the ownership of a houre a for obtaining accommodation at fair and reasonable rent.

• Major finance from Housing Societies are LUC, HUDCO, National Housing Bank (NHE)

• According to ICA - Co-operative Housing Societies envisages the Co-operative Principle "Concern for Community”

• Protriem faced by housing societies are

1. Inadequacy of finance

2. Scarcity of land

3. High cost of land

Primary Co-operative Housing Society:

• The area of operation of the Society is confined to One Municipal Town or One Panchayath

Kerala State Co-operative Housing Federation / HOUSEFED (KSCHF) - 1970:

• Registered in 23- 4 -1970 (Two Tier Structure)

• Started functioning on 24 - 9 - 1970

• Headquarters - Ernakulam

• Area of operation - entire state of Kerala

• It is the federation of all Primary Housing Societies in the State.

• The membership is open to all Primary Housing Societies in state and the state govt

• Undertake manufacturing of building materials or carry on trade in them for the benefit of the members

• Ultimate power is vested with general body.

The board of management consist of 22 members with

1. The representative each for each revenue district elected by general body of Primary Housing Societies (14)

2. One Women representative (1)

3. One SC/ST representative (1)

4. Three persons nominated by the State Government (3)

5. Registrar of Co-operative Societies (Ex- officio) (1)

6. Managing Director (Ex-Officio) (1)

7. One Nominee of LIC (Ex-officio) (1)

Source of Funds:

1. Share Capital from Members and Govt., Entrance Fee and Other fee

2. Debentures issued on Govt. Guarantee

3. Loans from UC, HUDCO, Kerala State Housing Board, HDFC

• The Maximum Borrowing Power of the federation shall not exceed 25 times of the paid up share capital plus Reserve Fund.

• It also undertakes house construction programs / schemes of Central and State Governments and Housing Board of Kerala

• Also extends technical knowledge to its members on house construction

• Conducts seminars and workshops on low cost houses for common man and enlighten them.

• For day to day management 7 or 9 members Managing Committee is elected by the general body

• in the Managing Committee two seats shall be reserved, one for SC/ST candidate and other for woman candidate

• The Maximum amount of Loan shall be 80% of cost of construction or 36 times of monthly income of the borrower whichever is less

• The loan should be disbursed in 3 instalments (30:40:30). The final instalments given only after getting a Valuation Certificate from the PWD Engineer

• They provide long term credit facility to its members for purchase or construction of residential house.