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Name the co-operative society that provides housing loan facility at reasonable rates

Name the co-operative society that provides housing loan facility at reasonable rates Correct Answer Housing co-operatives

Explanation:

A co-operative is a self-governed association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly-owned and democratically-controlled enterprise.

  • The Housing cooperative is a legal society that owns real estate that provides housing loan facilities at reasonable rates.
  • It is a type of homeownership where the cooperatives own a part of the cooperation that owns the building instead of owning the actual real estate.

Additional Information

  • 97th Constitutional amendment act, 2011 provides Constitutional protection and status to the cooperative society.
  • 97th Constitutional amendment act, 2011 is aimed to encourage economic activities of cooperatives which in turn help the progress of rural India. 

Related Questions

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Statement : The 'M' Cooperative Housing Society has put up a notice at its gate those sales persons are not allowed inside the society.

Assumptions :
I. All the sales persons will stay away from the 'M' Cooperative Housing Society.
II. The security guard posted at the gate may be able to stop the sales persons entering the society.
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The 'M' Cooperative housing society has put up a notice at its gate that sales persons are not allowed inside the society Assumptions: 1. All the sales persons stay away from 'M' Cooperation society 2. The security guard posted at the gate may be able to stop the sales persons entering the society
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Courses of Action :
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II. The policies in regard to urban housing should be reviewed.
III. The policies regarding rural housing should also be reviewed so that such problems could be avoided in rural areas.
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