Cooperative society sees growth despite Covid

 New cooperative society caters to middle and lower income groups

NT Correspondent

Bengaluru: With Bangalore expanding on a daily basis and more properties being bought in the city, the housing and property segment in the city has become a strong industry in the state.

The Karnataka One housing Co-operative Society Limited opened doors for many shareholders belonging to lower-income backgrounds. The Covid years saw exponential growth in the number of shareholders for the Society, as it is a government affiliated housing project.

Most of the shareholders have become owners of residential plots or farmlands across the city. Under the Sahakar Sangham scheme, the Society aims to motivate middle and lower income groups to become shareholders of the housing projects distributed area wise.

The layout for residential plots depends upon the number of members that have signed up and based on the participants, the allotment of the plots are done with low installation and maintenance charges.  The benefit of the membership entails being served on priority basis with the consideration of the best price.

The membership process is easily accessible; the form for the same can be collected from the Karnataka One housing Cooperative Society Limited office, and documents like a passport-size photograph, identity proof, and address proof along with a fee of Rs 2000, is all it takes to become a member. In order to register for Farmlands one can visit the Housing projects office for the newest deals on farmlands.

"We gained more than 100 members during Covid from the area and many are looking to invest in gated communities with farmlands and the cost for the same can go as low as Rs 195 per sq feet and no other hidden charges have to be paid . The initial cost comes up to Rs. 10 lakhs to Rs. 15 lakhs,” informed Sagar Raj, founder of the Basavanagudi Karnataka One housing Co-operative Society Limited. 

”This way it is easier to get affordable housing, especially for people belonging to lower income groups. The projects are approved by the state government and the process is hassle-free and does not involve using physical cash,” added Raj.

Sagar informed further that the Mysore housing project which was recently launched , has seen a positive response, with over 19 people having signed up for the 550-plot project that offers a gated community, and more will enroll when notified of the benefits.

The projects in Ramanagra and Magadi Road have also become popular destinations amongst shareholders with the active participation of over 25 members from the time of its launch a month ago, added Raj.