HIDCO Cooperative Plots

HIDCO has come up with a lottery of four hundred cooperative plots spread over Action Area 1, 2 and 3 in New Town. The sizes of the plots are from four cottah to six cottah and it will be given to the applicants according to which income group they are falling. The plots are categorized in two types – Type 1 is Housing cooperatives which is formed exclusively by Government employees including police and Type 2 is housing cooperatives which is formed by persons not belong to type 1. The plots will be given for residential use for 99 years.  Every year there will be a nominal plot rent of one thousand rupees.

HIDCO has issued many rules which need to be followed by all applicants. Type 1 i.e. cooperative society by Government employees or pensioners shall get priority at the time of lottery. At first type 1 will get the allocation and if there is any plot left that will be distributed to type 2. The whole process of application is online but the lottery will be done manually and with physical presence. The application will be accepted from 15th February, 2021 to 30th April, 2021. The plots will be handed over to the cooperative after examining all the papers within three months from the draw. The applicant / cooperative members should be very cautious about the paperwork. If there is any dispute or mismatch or improper paper that may lead to cancellation of the application and the application money may also be forfeited. All the housing cooperative societies are to be formed under the West Bengal Cooperative Society Act, 2006. The members of a housing cooperative society shall fulfill all the condition as required under the West Bengal Cooperative Society Act, 2006.

This is a very good opportunity for those who are looking for a flat in New Town. Although there are chances not to get allotment; however, it will be wise decision to participate in the lottery. Those who will get the allotment will be very lucky as the total cost of the flat will be much lesser than the current market price of a 3 bhk flat in New Town.

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