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Azeagaia Development Private Limited is a prominent Indian real estate firm, promoted by Singapore-based companies through the automatic foreign direct investment route (FDI), having considerable experience and expertise in real estate development market and advisory services across the world. Our area of specialization lies primarily in the development of Residential Townships, Commercial Buildings and Developmental Projects.
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Benefits of having a Housing Society



Benefits of having a Housing Society

 

When looking to buy a new house, a very common yet crucial confusion that prospective buyers face is whether to invest in an independent house or an apartment. Both of these types of accommodations have their own advantages and disadvantages. While an independent house gives you complete freedom, an apartment will ensure additional security and safety apart from many other amenities.

But if you are more inclined towards moving into an apartment, there’s one very important aspect you should be aware of – a well-formed and managed housing society or apartment association. A housing society is a group, the members of which are the residents who own flats/apartments in the building or complex. These societies operate on a service charge collected from the flat owners and take care of day to day affairs.

Besides instilling a sense of community among residents, housing societies have many benefits, such as:

 

Democratic System

Like any other democratic system, members of the housing society are elected by the residents of the building. A minimum of seven persons are required to establish an association and every individual who owns an apartment in the building is a member of the housing society/association.

A system like this ensures that everyone concerned has an equal say and participation in all matters. They also maintain records of meetings or other proceedings to ensure transparency in the working.
 

Overall Harmony & Welfare

The housing society is responsible for carrying out the routine administrative affairs of the building. It maintains the decorum and peace in the premises and ensures that the environment is secure for families.

They are also empowered to take disciplinary actions against families/individuals who may disturb the atmosphere, if necessary.
 

Collective Responsibilities

The housing society is responsible for the general upkeep of the facilities and amenities and so the residents as well as the society share all the responsibilities. Residents are equal participants in carrying out the duties and tasks and people might also be employed for specific jobs.

A communication system (meetings, newsletters, etc.) can be set up to keep the members informed and the housing society may also open a bank account in the name of the association to meet the monetary demands.
 

Dispute Settlement

The housing society is entrusted with the duty of protecting the interests of the residents. In case of any conflicts among residents or an issue with an errant individual, measures can be adopted by the society to make sure that the atmosphere remains undisturbed.

And in case of any legal disputes, the society is also in custody of all the original documents pertaining to the building and the land.
 

Control over internal matters

As members of the society, residents exercise control over the internal matters of the society. People cooperatively work together to establish regulations and procedures. Any petty disputes can easily be settled without the intervention of external authorities.
 

Cultural & Recreational Facilities

The housing society is maintains recreational facilities such as parks, pools, clubs, etc. in the building and is also responsible for organizing cultural and social activities to promote social harmony among the residents.

If you are looking to purchase a new apartment in Lucknow that has a system in place in the form of a housing society, get in touch with us to know more.