Loss-making housing societies with no hope for revival face liquidation

  • | Wednesday | 14th August, 2019

C Shivakumar ByExpress News ServiceCHENNAI: Tamil Nadu government has asked the Cooperative Housing department to identify dormant and heavy loss-making housing societies and liquidate those that do not have a possibility of revival. It is learnt that 45 housing societies are dormant. Of the 733 cooperative housing societies, 565 are in urban areas and 168 in rural areas. Madurai has the maximum 97 of the 102 housing societies which are running in loss. Financing pattern of TN cooperative housing bodyTamil Nadu Cooperative Housing Federation was registered as an apex body in the State and acts as a financing bank for all affiliated primary cooperative housing societies.

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