OBJECTS  OF THE SOCIETY:

a) To provide for its members living accommodation within the area of its operation at a fair and reasonable price together with such ancillary services as roads, drainage, water and light and together with facilities for physical and cultural recreation and all such other matters as are usual, customary and desirous for building estates, blocks of flats or single dwellings. The society may own Land and Buildings on behalf of its members.

b) To acquire land and or construct houses for the purpose of selling them to members and non-members.

c) To achieve the objects set forth in By-laws 4 (a), and (b) the society may perform and carry on all the usual functions of a co-operative society as governed by the Co-operate Society Act and Rules and may in addition;

i) Raise fund by accepting deposits and by contracting for loans from members or non-members by issuing debentures or mortgaging its   property or by any other means up to a maximum amount to be decided by the General meeting.

ii) Lend money to members for any purpose directly concerned with the acquisition of land or living accommodation for themselves on such terms and with such security as the management committee may from time to time determine or guarantee loans and advances to members for similar purposes.

iii) Undertake building operations by such means either directly or indirectly as the committee may decide.

iv) Acquire Supplies of building and similar materials and machinery of all kinds including household furniture and equipment for use in building or for sale or hire to members.

v) Acquire and relinquish land, buildings and rights over land and buildings by purchase, lease or any other means as may be necessary for the attachment of these objects.

vi) Employ architects, builders, and contractors. Issue plans negotiate and contract services for light and power, water drainage, roads and generally do all such things as are necessary and customary for the acquisition of land and its development for housing purpose.

vii) Enter into contracts with members for the sale or lease of land and building acquired by society in pursuance of its objects on such terms and conditions as may from time to time be determined.

viii) Do all such things, as are incidental to or necessary for the attainment of any or all foregoing objects of the society.

 

CO–OPERATIVE PRINCIPLES AND VALUES:

In order to achieve the objectives for which the society is

established, the society shall continue act in accordance with the

internationally accepted Co – operative Principles and values

stated below: –

 

a)  Co-operative Principles

i) Voluntary and open membership;

ii) Democratic member control;

iii) Economic participation by members;

iv) Autonomy and independence;

v) Education, Training and Information;

vi) Cooperation among co-operatives;

vii) Concern for community in General

 

b).    Co-operative Values

Co-operatives are based on the values of self-help, mutual responsibility, equality and equity. They practice honesty, openness and social responsibilities in all their activities. This co-operative shall uphold faithfully the above values.