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Objectives

Objectives of the society are to promote the economic interests of its members on the Principles of Cooperation, self-help, on no profit & no loss basis, and more particularly:-

  1. To lay-out, establish and maintain a residential Colony for its members, if need be, to extend it and take other necessary steps for this purpose.
  2. To arrange, buy or otherwise acquire land, houses, buildings or other property, whether movable or immovable by purchase, lease, mortgage, acquire under Land Acquisition Act or otherwise for the purpose of carrying out the objects of the society.
  3. The society shall have the prior approval of Registrar, ICT Islamabad in connection with all matters stipulated in rules 27 & 54 of the Cooperative Societies Rules 1927.
  4. The determination of site for housing scheme will be with the prior approval of General Meeting and Registrar, Islamabad.
  5. Any amendment or alteration/change in the housing scheme will be with the approval of General Meeting and Registrar, Islamabad.
  6. To bring into existence and to construct, manage and maintain works like roads, water supply sewerage, electricity, sui gas, telephone services and other construction of various kinds like schools, dispensary, mosque, amusement parks, civic centers, provision of transport, grave yard etc., for the benefit and convenience of the members residing in the colony. These will be subject to regulation of CDA Zoning Regulation and Modalities Procedures, LDA and other relevant development authorities and at par or better than their standard in case of outside the CDA limit.
  7. To sell, mortgage, give on lease, land, houses, house sites, buildings and other properties of the society movable or immovable for the common benefit of the members, subject to the approval of General Meeting and Registrar, ICT Islamabad as may be necessary. The approval of Registrar will not be required for allotment /registration/lease of plots in favour of members.
  8. To construct buildings for public use and to undertake other utility projects for the convenience of members.
  9. To prepare plans for houses and other buildings in the colony or get them prepared from the qualified architects and approve them and to ensure that the houses and buildings are prepared according to them. For this purpose prepare building by-laws and get them approved from General Meeting and Registrar, ICT, Islamabad.
  10. To obtain loan from government or any other source for construction of houses or shopping centers etc. on terms and conditions as may be deemed suitable by the Society and the Registrar, ICT, Islamabad.
  11. To adopt other measures designed to encourage in members the spirit of cooperation and practice of thrift, self-help and mutual aid.
  12. To take steps for the general welfare of its members.
  13. To allot plots to members as per approved Master Plan. Allotment of plots will not be made till the approval of Master Plan of the housing scheme from the concerned Authority. When once the allotment is so made, the allotted plot or its site or its area shall not be changed without the prior consent of the affected members. If any change is otherwise inevitable, the approval of the General Body Meeting and Registrar, ICT Islamabad will be compulsory.
  14. To do generally all such incidental things or acts as may be considered necessary or conducive to all or any of the aforesaid objects.
  15. To open current or time deposits, saving deposits, or over draft or cash credit accounts with bank.
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