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| Practical Guidance for Housing Societies: Our Handbook Nears Completion |
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| Dear Moneylifers, |
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| This month, we are happy to share that the Foundation’s ‘Practical Handbook for Housing Societies’ has now been completed and is nearing the final stages of printing. |
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| This handbook is not a theoretical exercise. It has grown directly out of years of engagement with housing society members and managing committees who reach out to us through our helplines, one-to-one counselling sessions and our weekly housing society problems-and-solutions report on Moneylife (Read: https://www.mlfoundation.in/CHS-Problems-Solutions.html). |
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 Through Mr Shirish Shanbhag’s regular counselling sessions, as well as the steady stream of queries we receive on issues ranging from elections and governance to parking disputes, redevelopment concerns, conveyance, maintenance calculations and accounting transparency, certain patterns have become unmistakable. The same misunderstandings recur. The same procedural gaps create avoidable conflict. Often, both committee members and residents are unsure of what the law actually requires. |
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| Over time, we realised that while cooperative housing society laws are detailed, clear and accessible guidance is not. Most residents confront the rules only when disputes escalate. Many committee members operate without structured procedural clarity. Minor disagreements then turn into prolonged, stressful battles. |
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| The handbook attempts to bridge this gap. It brings together the knowledge accumulated over years of counselling, queries and case-based discussions and presents it in simple, structured language. It explains common issues, outlines what the law requires, highlights frequent mistakes and suggests practical steps societies can take to function more transparently and harmoniously. |
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We believe the handbook will be particularly useful for: - Managing committee members and office-bearers
- Newly elected society representatives
- Resident members seeking clarity on their rights and responsibilities
- Societies navigating redevelopment or governance transitions
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| We are now in the final stages of printing and will be bringing out a limited number of copies in this first print run. We plan to organise a launch discussion in Mumbai, where those who attend will receive a complimentary copy of the handbook. |
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| If you or your housing society would like to attend the launch discussion and obtain a copy, please write to us at [email protected] so that we can plan accordingly. We believe this handbook will serve as a practical and lasting reference for every housing society. |
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| A Small Example of Why Practical Guidance Matters |
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| Recently, a reader living in the United States wrote to us after seeing a notice at his cooperative bank stating that a locker that remains unoperated for a year may be broken open, even if rent is paid. Understandably, he was concerned and unsure whether the bank had the authority to do so. |
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 Mr Abhay Datar, our counsellor for such issues, examined the matter and pointed him to the relevant RBI circular that clarifies the circumstances under which banks may cancel locker allotment or break open lockers, particularly in cases where lockers remain unoperated for extended periods and the customer falls under a higher risk category. He also suggested practical options, including writing to the bank with reasons and exploring a specific Power of Attorney arrangement. |
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| The reader later wrote back to say that although he had repeatedly asked the bank for the RBI guidelines, he had not received clarity until he read our reply. He expressed his appreciation for the detailed explanation. Feedback like this encourages us to continue offering practical guidance where it is needed. |
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| Support Our Work |
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| Moneylife Foundation’s work, including helplines, counselling sessions, publications and awareness initiatives, is supported by contributions from readers and well-wishers. If you would like to support our efforts, you may make a donation here: https://www.mlfoundation.in/donate.html |
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| Your support helps us continue offering independent guidance and practical assistance to those who seek it. |
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| Stay Connected – Join Our WhatsApp Channel! |
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| We’ve launched an official WhatsApp Channel to share updates on our events, seminars, workshops, counselling sessions and any other general updates directly with you. |
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| Join here: https://whatsapp.com/channel/0029VbBWAyKGpLHIIk6yYa3t |
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| If you don’t see updates right away, please note that notifications are turned off by default. Just tap the bell icon in the channel to turn them on — that way, you won’t miss any important announcements. You can also continue to follow our Telegram channel for updates: https://telegram.me/moneylife_foundation |
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| Check our Free Helplines and Guides or Templates as well as our YouTube Channel, where you will find a wide repository of videos on various topics. |
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| Video recordings of all our webinars are available on our YouTube channel and will come to your inbox regularly if you hit the subscribe button. But if you want to be notified about future events through our mailing list, you do need to be a member. |
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| Moneylife TV & Helplines |
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| Financial Literacy Videos in Indian Languages: |
- Credit cards
- Online frauds
- Fallacy of gold loans and more in Marathi, Gujarati, Punjabi and Tamil, all on our YouTube channel (https://www.youtube.com/moneylifetv).
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| Get guidance and counselling through our Legal Helpline or Credit Helpline. |
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| Sucheta Dalal |
| Founder-Trustee, Moneylife Foundation |
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| Trustees: Walter Vieira, Sucheta Dalal, Debashis Basu. | | | | Moneylife Foundation is registered with the Charity Commissioner of Mumbai, is an Affiliate member of OECD's International Network on Financial Education, is a Supporter Member of Consumers International, Development Partner of Advocates for International Development (A4ID), and is a winner of the 10th MR Pai Memorial Award. | | |  | | | | Donations are eligible for tax benefits under Sec 80G of the Income Tax 1961 (50% tax exemption) and MLF is registered under the Foreign Contribution (Regulation) Act, 2010. 80(G) Reg No: DIT(E)/MC/80G/685/2010-11 dated 7.2.11 effective 8.+9.2010 | FCRA Registration No: 08378138 | | | |
