This Society is registered under the Co-operative Societies Act 1912 and now Governed under the Tamil Nadu Co-operative Societies Act 1983 and Rules 1988 and functioning under Administrative Control of the Housing and Urban Development Department, Government of Tamil Nadu.

The Government Administers these societies under the control Registrar of Co-operative Societies, Housing Department in accordance with the Provisions under Tamil Nadu Co-operative Societies Act 1983 and Rules 1988 through its Regional Deputy Registrar (Housing).

You can just walk in to the society to avail the services by becoming a member.

You have to collects Form No-16 to become ‘A�?Class member of the society and requisite membership forms for becoming associate member which are available with the society for different services rendered by the society.

A-Class Member of the society will have voting power as well as entitled to contest for the elections to the Board of Directors of the society. Further ‘A�?class member alone can participate in the proceedings of General Body Meeting.

Persons interested in the property to be mortgaged to the society will be admitted as Associate Members who will be co-applicant to the loan. They can also avail the services like availing Jewel Loan / Fixed Deposit / buying plots.

The Value per share is Rs.100 and Entrance fees is Rs.5/- and associate member admission fee is Rs.5/-

The Management shall vest with president and 10 Board of Directors elected by the members of the society along with Managing Director into leader of deputy word missing.

Only ‘A' Class members of the society could become a Director to be elected by other ‘A' Class members in the election process.

All ‘A' Class Members shall participate in the proceedings of the General Body Meeting.

No, Board of Directors work honorary.

Yes, This society is permitted to raise funds through Deposits by provision in its bylaws.

No. There is no limits to invest in deposits by submitting deposit application form.

Deposits can be made in cash as per Goverment Guidlines or by cheque.

Simple Interest i.e F.D amount x Rate of interest 12x 100

Yes the Deposits made by the members are safe since the society is lending only secured loans.

Renewal application along with duly discharged F.D.R to be submitted for renewal.

Only on further renewal of deposit the interest will be allowed from date of maturity.

Yes the deposit can be foreclosed and on fore closure interest will be allowed at such rates on such deposit for such admissible rate for the period held minus one percent.

Yes, 85% of the amount –invested can be availed as loan and interest rate will be charges @ Deposit Interest rate plus 2% .

One can avail Jewel Loan / House Mortgage Loan / Fixed Deposit Loan from the society.

Diminishing Balance method or monthly rest. i.e Interest = Outstanding loan amount x rate of interest / 12 x 100.

EMI is calculated for the amount lent @ Rs.1494/- per lakh for the interest rate of 13%

Scrutiny fees as sized by Management from time to time.

Notices are served to members. In the event of chronic default arbitration proceedings under sec 90 of Tamil Nadu Co-operative Societies Act 1983 are initiated and further proceedings are continued to recover the dues.

Housing Loan taken from the society enjoys Income tax Rebate under 80-C

Loans are sanctioned to the members for the property lying within the limits of area of operation of the society according to their eligibility as per the regulations of the society.

Compulsory Fire and insurance cover for all the properties under House Mortgage loans and Housing loans. Burglary Insurance made for Jewels pledged for Jewel Loan.

Once the loan amount is paid in full, one can redeem the documents by the next day.

The House Mortgage loan discharge is evidenced by Registering a Receipt Deed in favour of the Member at the concerned Sub-Registrar Office.

Once the loan amount is paid in full, the jewels are returned immediately to the borrowers on his surrendering the receipt.

When a House Site Scheme is launched by the Society, it causes advertisement in leading dailies and invites booking of plots by the members / purchasers under first come first serve basis.

Clear Title, Bank loan facility and Stamp duty exemption as per the G.O.M.S. No.2179, Co-operation dated 21/09/1966 i.e when a property is purchased by any one as on date 7% of the value of the properly is collected as stamp duty to Government of Tamil Nadu exchequer and 1% Registration Charges will be collected. Hence when a person buys property from society 7% of stamp duty will be borne by Government of Tamil Nadu.

An officer of the Society who is authorized will execute the Sale Deed in favour of the Members/Purchasers.

Certificate of interest paid for I.T.Purpose, Certificate of possession of original documents to get Metro water, E.B, Drainage connection, Certificate of loan dues for P.F.withdrawal , take over of loans etc.,

Society provide Locker facilities.

Director of Co-operative Audit, Ministry of Finance, Government of Tamil Nadu conducts audit to the society.

Yes the society is housed in its own building with a built up area of 6000 Sq.ft constructed in 8.5 grounds.

Through advertisements in the dailies, hand bits, pamphlets, hoardings

It is I.S.O 9001: 2008 certified institution and is awarded ‘A�?Class in audit conducted by Government of Tamil Nadu.

The society has customers ranging from the Lower class to upper Class.

the society is working in profit since its inception.

Bylaws of the society are readily available to the members and can be obtained by remitting the requisite charges.