Maharashtra: New co-op housing society rules include online AGMs, 12% interest cap on maintenance arrears
Jul 2, 2026, at 09:41 AM IST
Listen to this News
Maharashtra housing societies can now hold annual meetings online, and interest on maintenance arrears is capped at 12% annually. New rules, notified Tuesday, provide a dedicated legal framework for societies, covering registration, membership, redevelopment, and financial management. These reforms aim to streamline operations and enhance governance, with model bylaws expected soon to ensure uniformity across the state.
PUNE: Housing societies across the state will be able to hold annual general body meetings (AGM) online, while interest on maintenance arrears will be capped at 12% a year under the new Maharashtra Cooperative Societies (Amendment) Rules notified by state govt on Tuesday.
Laying down detailed provisions on registration, membership, nominations, inheritance, maintenance charges, redevelopment, financial management and the functioning of managing committees, the notification operationalises the separate housing society chapter introduced through amendments to the Maharashtra Cooperative Societies Act in 2019, ending a nearly seven-year wait.
Cooperation commissioner Deepak Taware said the rules will facilitate smooth functioning of housing societies. "Following the notification of the rules, we will shortly notify model bylaws for housing societies, too. The societies should adopt these model bylaws in their AGMs, so that there is uniformity in the rules and bylaws," he told TOI. The bylaws are likely to be notified by the end of July, he added.
Maharashtra State Cooperative Housing Societies and Apartments Federation Ltd president Suhas Patwardhan welcomed the notification and said the long-awaited step would give clear directions to all housing societies for various functions. "However, I urge govt to expedite other pending reforms, including a single-window online approval system for redevelopment, and amendments to the Maharashtra Apartment Ownership Act to further strengthen governance of cooperative housing societies," he said.
Federation expert director, advocate Shreeprasad Parab, said the rules give housing societies a dedicated legal framework for the first time instead of making them function under provisions framed for other categories of cooperative societies. "The reforms bring clarity on registration, membership, redevelopment, financial management and governance. The next challenge will be ensuring uniform implementation, awareness among members and effective enforcement," he added.
The rules were ready on June 18 and sent for translation, before being made available to the public on Tuesday. Among key changes is a structured framework for maintenance collections. The rules specify the various charges societies can levy, including service charges, property tax, water charges, lift maintenance, parking charges, insurance, lease rent and contributions to statutory funds. They also cap interest on delayed maintenance payments at 12% per annum, subject to approval by the general body, while non-couponercharges cannot exceed 10% of service charges.
The rules also prescribe how different expenses are to be shared among members. While some charges will be divided equally, others will be apportioned based on carpet area, construction cost, number of water inlets, usage or other specified criteria, reducing ambiguity over maintenance billing.
A detailed procedure has been introduced for nominations and succession after the death of a member. Where a nomination exists, the nominee can apply for provisional membership by submitting the prescribed application and an indemnity bond. The rules also formally recognise associate and provisional members and require societies to maintain updated nomination records.
For the first time, members will be permitted to participate in annual and special general body meetings through video conferencing and other audio-visual modes, provided attendance and proceedings are properly recorded.
Redevelopment, one of the most contentious issues for housing societies, has also been brought under stricter safeguards. Meetings to consider redevelopment proposals will require a 14-day notice, a two-thirds quorum, video recording of proceedings and the presence of a representative of the registrar. Selection of a developer will require the approval of at least 51% of the total members. The rules also encourage self-redevelopment by allowing societies to raise substantial borrowings against the value of their land.
State cooperation department officials added that societies may also create additional funds with the approval of the general body. The rules mandate annual cooperative education and training for members, office-bearers and employees through recognised institutions. The amended rules also define the responsibilities of managing committees, including preparation of budgets, maintenance of accounts, audits, repairs and implementation of general body resolutions. A time-bound procedure for societies to recover unpaid dues by obtaining recovery certificates, with the aim of making the process faster and more transparent, finds a mention in the rules.
Source: realty.economictimes.indiatimes.com
Read all Thane Real Estate Latest News
To Know About Thane Real Estate Development Contact Us at (+91) 9833458323
