Short Answer

Yes, landlords are generally required to notify the cooperative society when a long-term lease is signed.

Detailed Explanation

Section 73 of the Gujarat Cooperative Societies Act, 1961 states that every member of a cooperative society shall give notice to the society of any transfer of his interest in the capital or property of the society. This includes leasing out the property for a long term. The purpose of this provision is to ensure that the society is aware of any changes in ownership or tenancy within its premises. By notifying the society, it can update its records and maintain transparency in its operations.

In practice, when a landlord signs a long-term lease with a tenant, they should inform the cooperative society by submitting a formal written notice. The society may have specific forms or procedures for such notifications, which the landlord must follow. Failure to notify the society may lead to penalties or legal consequences as per the Act.

Real-world Scenarios

• Mr. Patel, a landlord in a cooperative housing society, decides to lease his apartment to a tenant for five years. Before finalizing the lease agreement, he informs the society's management committee by submitting a notice along with a copy of the lease agreement.

• Ms. Desai, another landlord, fails to notify the society about a long-term lease she signed for her commercial space within the society premises. The society later discovers this and issues a notice to Ms. Desai for non-compliance with Section 73 of the Act.

Reference

• Section 73 of the Gujarat Cooperative Societies Act, 1961: Official PDF