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Society Insurance
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A co-operative housing society is basically formed to manage all the society related issues by the committee members involved in the committee. The management of all the issues of a cooperative housing society with considerable good number of people is quite daunting at times; there are other concerns apart from keeping a track of billing, accounting, visitor management, management of staffs etc that needs attention.
Cooperative housing society insurance stands as a shield, protecting the collective interests and assets of residents within a shared living space. Tailored to the unique needs of these communities, this type of insurance provides coverage against various risks and liabilities. Let's explore the key aspects of cooperative housing society insurance in detail.
Society Insurance
Deemed Conveyance refers to a legal provision in some jurisdictions that allows for the automatic transfer of ownership rights of a property, typically from the builder or developer to the cooperative housing society or association, without the need for a formal conveyance deed.
Deemed Conveyance
My Society Accounts offers comprehensive assistance for housing society conveyance in both conventional and deemed scenarios. Our team of experts provides tailored legal advice and support throughout the entire process, ensuring a smooth execution of your conveyance. From initial consultation to the finalization of documentation, including coordination with government departments, we handle every aspect diligently. Whether it's obtaining a Conveyance Deed or navigating the complexities of deemed conveyance, My Society Accounts is committed to facilitating a seamless experience for your housing society.
Higher Coverage
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Under the housing society insurance policy, you get the flexibility to select the coverage amount depending on the size of your building and the needs of the society. To keep your housing society secured against man-made and natural perils, this policy is definitely a beneficial choice considering the perks it offers.
Coverage for common amenities
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Any sudden fire incident might cause severe damage to the amenities of your building which includes gym, play courts, etc. Opting for an optimum housing society insurance plan will help you to get all of these areas covered under one plan.
Fire
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The plan covers the losses and damages caused to your housing society due to the fire incident.
Damage or loss caused due to Explosion / Implosion.
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Loss, damage or destruction caused due to riot strike and malicious damage.
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Protection of your possessions against natural calamities
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Coverage against accidental damage
Human Hazards
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Troubled times can affect your home as well as your peace of mind. Keep it secure against strikes, riots, terrorism, and other malicious acts.
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Society insurance provides coverage for damage to property caused by human activities, such as vandalism, theft, or intentional destruction of community assets.
Key Features of Housing Society Insurance
Below are the documents necessary for Conveyance Deed or Deemed Conveyance:
7/12 Extract
Search Title Report
Single copy of an Agreement (First Buyer)
N.A. Order & U.L.C Order
Architect Certificate of Area
All Index- II of all flats/shops
Resolution & Notice to Builder
Society Registration Certificate
Power of Attorney
Development Agreement
Commencement Certificate
Layout Plan (Blueprint)
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