The Maharashtra government has unveiled the Draft Maharashtra Cooperative Societies Rules, 2025, proposing a major revamp of housing society governance. Open for public feedback since 15 April, the draft aims to modernise operations and boost transparency across 1.25 lakh housing societies, largely in the Mumbai Metropolitan Region.

Key changes include allowing virtual AGMs with a quorum of two-thirds or 20 members, whichever is lower, and enabling simple majority decisions. Managing committees may approve one-time expenses up to Rs.3 lakh and fill vacancies without registrar approval.

For redevelopment, societies can raise loans up to 10 times the land cost, with mandatory video-recorded meetings and registrar presence during builder selection. Other proposals include uniform service charges, reduced interest on dues (from 21 to 12 per cent), and provisional membership with voting rights for legal heirs.

The draft will be finalised following public consultation and departmental approval.