Membership and types

Membership And Types

There shall be following categories of membership:

  1. Member Association
  2. Associate Member
  3. Overseas Associate
  4. Invitee Member

(i) Member association shall be of two types:

(ii) Associate Member:

Housing Finance Companies, Commercial Banks and Financial Institutions having Activities in the field of Real Estate, Consultants, Association or Council or Organization having interest in real estate development activities, Professional Institutes / Organizations / Boards dealing with collection and dissemination of Information, Research and Development shall be eligible to be invited to become Associate Member of the Confederation.

(iii) Overseas Associate:

Foreign Association or undertaking engaged in real estate activities may apply to become an Overseas Associate provided that the Governing Council Board may, at its discretion with the concurrence of not less than three-fourths of its total strength, relax or vary any of the qualifications for membership specified herein. A circular or letter duly signed by a member of the Governing Council Board expressing his approval or disapproval of the relaxation or Variation, as the case may be, shall be entered in the Register of Members.

(iv) Invitee members:

All members of City level associations shall be invitee members without having voting right.

Admission of Membership:

Rights & Obligations:

Any Association or Undertaking having been admitted to Membership of the Confederation will be deemed to have agreed to amend their bylaws in synergy with these articles of association and also to abide by and be subject to these Articles, rules and regulations, bylaws and standing orders of the Confederation that may be in force from time to time. However, this shall not apply to associate members or overseas associates.

Entrance Fee & Subscription:

The Entrance fee and annual subscription the payable by each category of Members for the time being shall be as follows:

Category Entrance Fee
Member Association State level Federation /Association having at least two City / Town level Associations as its members Rs. 4,00,000
City / Town level Association Rs. 1,00,000
Associate Member Rs. 5,00,000
Overseas Associate Rs. 10,00,000

 

Annual Subscription:

Each State Federation shall pay this fee of Rs.1 000/- per individual member of their city association which is subject to concession provided herein below:

Population of city (as per Latest census) % of Payable Fee
Below 10 lac 25%
Between 10 lac to 25 Lac 50%
Above 25 lac 100%

However, the annual subscription for State Federations will be minimum Rs.4,00,000/- and maximum Rs.10,00,000/-

The Governing Council Board of the Confederation shall have the authority to alter from time to time the subscription stated herein.

Each and every type of member of the Confederation shall pay such additional Subscription, not exceeding the annual subscription for the time being, as may be decided by the Governing Council Board from time to time having regard to the requirements of the Confederation. However, such additional subscription shall not be payable more than once in any period of three years.

All subscription and admission fees shall be payable in advance by Demand Draft only on such date or dates as may be designated by the Governing Council Board from time to time.

If the Annual Subscription or any other amount due to the Confederation is not paid in time, the said amount shall require to be paid along with interest @ 12% PA.

No member shall have any voting rights unless entire dues are paid.