SAHAKARSUTRA

ALL ABOUT FSI & TDR        I.          Introduction Real estate is a sector which touches almost everyone’s life. This is because everyone  has a home and many have an office.  One often comes across concepts such as FSI and TDR while dealing with the real estate sector. Further, while dealing with taxation issues connected with real estate, knowledge of these terms is of immense value. The concepts of FSI and TDR are explained in the Development Control Regulations for Greater Bombay, 1991 (“ the Regulations ”). The Regulations have been framed under the Maharashtra Regional and Town Planning Act, 1966 (“the MRTP Act”). As the name suggests, these Regulations are applicable only for the City and suburbs of Mumbai. The MRTP Act provides for the town planning and the development of land for public purposes within the State of Maharashtra. This Article examines these two very important concepts. II.        FSI 2.1       The term FSI means Floor Space Index. FSI has be

Co-Operative Societies Act – Amendment of Feb-2013 In October 2012, the Centre had asked state governments to amend their respective State Cooperative Society Act in tune with the Constitution (97th Amendment), 2011 before February 14 of 2013. The Maharashtra Co-operative Societies Act of 1960 has been amended with effect from 16-February-2013. The Act is applicable to 2.47 lakh co-operative bodies all over Maharashtra with an annual turnover of Rs6 lakh crore and a total member strength of 5.50 lakh. Below are the Amendments. 1. Every Member of the Society must attend at least one General Body Meeting (GBM) within a consecutive period of Five years. The Member must utilise minimum level of services at least once in a period of five consecutive years as specified in the Bye-laws of the Society. Failing this such member shall be classified asa non-active member and shall not be entitled to vote. If a non-active member who does not attend at least one meeting of the General B

97th CONSTITUTIONAL AMENDMENT – INJURIOUS TO HEALTH OF HOUSING SOCIETIES The State Cabinet's decision to amend the Maharashtra Co-operative Societies Act, 1960 will affect the functioning of about 90,000 Co-operative Housing Societies in the State. It is stated that the 97 th Constitutional Amendment aims at bringing about uniformity across the Indian States/Union Territories and across all Cooperative Sectors in several matters of cooperative law in the wake of new directive principle to promote voluntary formation, autonomous functioning, democratic control and professional management of Co-operative Societies. The constitution and functioning of the Board/Committees of Cooperative Societies is an important aspect in Cooperative Society Law in that context. The Amendments, made in line with the 97th Amendment of the Constitution, aim at giving more freedom and responsibilities to Co-operative Societies, including Co-operative Housing Societies. An ordinance for the sam