About Imayam Multistate Housing Cooperative Society

Imayam Multistate Housing Cooperative Society Limited is registered under Multi State Credit Cooperative Society Act, 2002 bearing registration No…………………….

The area of operation of the society shall now be confined to states of Tamilnadu and Andhra Pradesh.

The society aims to become an effective loan for housing construction mechanism for the members of the society. The society is having monthly/quarterly/half/yearly deposit scheme with payable to members of the society to enable them to have good savings. The society is also under the process of developing innovative plans tailored for all basic needs of an individual member and incorporating the same into current schemes of deposit. In addition to the above, the society is aiming to provide loan facility to members at a very reasonable rate of interest and intends to improve their House of the members of the society and to effectively service the needs of the members by inculcating the value of savings and also to educate them by holding seminars, workshops etc. The society shall further undertake any additional analysis, survey etc. to ascertain the needs/requirements of members and endeavor to cater those needs in an effective manner.

OBJECTIVE:

Imayam Multistate Housing Cooperative Society Limited has been formed with the following main objectives and is carrying out its activities in relation to the main objects.

a) To promote Housing facility of its members through self-help and, Mutual aid in accordance with Co-operative principles specified in the First Schedule of the Act.
b) To encourage thrift, self-help and cooperation among members;
c) To provide facilities for Improve / Repairing and Purchase Plots / Flats among members.
d) To provide credit facilities for Purchase house.
e) To accept deposit form members repayable on demand or otherwise for the purpose Of lending and investment to members and others.
f) To borrow and raise money from members.
g) To receive all kinds of bonds, scrips, valuables on deposits or for safe custody from Members;
h) To collect and transmit money and securities from members;
i) To carry on and to transact every kind of guarantee and indemnity business on behalf Of members in the real estate sector
j) To prepare and to finance schemes for improvement of the financial condition of members.
k) To manage, to sell and to realize any property this may come into the possession of Society in full or part satisfaction of any of its clams;
l) To provide safe deposit vaults services to members and others.
m) To subscribe to the share of Cooperatives or other institutions;
n) To open branches and pay offices within the area of operation of the Society to Provide services to the members.
o) To borrow and raise money by way of loans, deposits or by way of any savings Schemes from members Only.
p) To acquire, take on lease or hire or in exchange, or otherwise land, buildings or any Movable or immovable property necessary for the business of the Society;
q) To acquire, to sell, to construct, to maintain and to alter any building of the Society or Works necessary or convenient for the purpose of the Society.