MEMBERSHIP

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  • Owner Members of the society, including ‘joint owners’ who own a plot of land or floor or a dwelling unit in Vasant Vihar or Shanti Niketan, by virtue of either initial allotment or inheritance or by transfer after purchase, on approval of the application and payment of the prescribed admission fee.
  • A person is eligible for membership of the Society if the individual owns a plot of land or a floor or a dwelling unit in Vasant Viahr or Shanti Niketan, either by assignment or by inheritance.
  • A person who has purchased using Registered Power of Attorney or Registered Sale Deed a plot of land or a floor or a dwelling unit can also be made a Society Members.
  • An individual who inherits on death of the owner and is in the direct line of succession, can be granted membership to the Society.
  • In addition, the Society may admit as Joint Members, a person from the family of an existing member of the Society, provided they are related by blood. The voting rights, however, remains with the member whose name is mentioned first on the share certificate. In case of inability of the person whose name is first on the share certificate, the joint member can be authorised to attend the AGM and vote on the member’s behalf.
  • A person may be admitted as a Nominal Member to the Society too. A nominal member cannot vote and is not entitled to the allotment of shares of the Society.
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EXPULSION

  • A member of the Society can be expelled under certain circumstances. The member has the right to represent his or her case to the Committee. A three-fourth majority of the members present and voting, at the Managing Committee meeting, which has specifically been called for expulsion, is required. Finally, the expulsion can only happen once approved by the Registrar. Rule 31 of the Rules have the details of the procedure that have to be followed for expulsion.
  • A member can lose his or her membership, if he or she sells or transfers or assigns or otherwise parts with the whole or any part of his or her plot or floor or dwelling unit in any form or manner.
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CESSATION

A person will cease to be a member of the Society:

  • On transferring the whole or any part of his or her plot or floor or dwelling unit owned by him or her as mentioned in bye-law 17.
  • When one decides to sell the property, either via Power of Attorney or Agreement for Sale.
  • On undertaking the business of purchase and sale of houses or land for construction of houses either directly or indirectly.
  • Upon death when there is no claim by nominee or legal heir within a year.
  • By writing to the Secretary about withdrawal of his or her membership.
  • When expelled as mentioned in bye-law 10.
  • When he or she ceases to hold shares in the Society.
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NOMINATION

A member of the Society may nominate a person or persons who are related by blood, to whom in the event of his or her death, the rights and interest in the Society can be transferred. Form No. 17 in triplicate is required to be filled by the member in the presence of two witnesses. This information can then be recorded in the books of the Society.

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