What are Housing Co-operatives?

Housing co-operatives are formed by group of people who are interested in acquiring residential property. They undertake activities relating to purchase of land, development of the site, obtaining governmental approvals, construction of houses or flats and allotment of houses/flats to its members. The Stamp duty to be paid when property is purchased from a co-operative society is waived off. Therefore, members are benefited by the lower cost of property.