Under West Bengal Co-operative Society Rules 2011 (WBCS Rules 2011), Rule 124, before the Housing Society gets registered, the members should hold a meeting where the Chief Promoter, Chairman, Vice-Chairman and Treasurer from amongst the promoters should be elected. The proposed name of the Society should also be discussed and the agreement to be entered with the land owner needs to be considered. Further, under Rule 125 of the WBCS Rules 2011, the Chief Promoter of the Society needs to open a bank account to be operated jointly along with the Chairman or, in absence of any of them, the Vice-Chairman and the Treasurer together with the other available and submit such document alongwith updated statement of accounts (receipts and payments) to the Registrar alongwith the application for registration.
Under Rule 130 of Rules, 2011, allotment of plots or flats has to be decided according to the principles and policies adopted in the first general meeting of the Society.
Plots or flats can be allotted in a housing co-operative by draw of lots or by calling subscriptions in accordance with the bye-laws of the society.
You need to get the building plan sanctioned by the local authority and thereafter you can have members joining the society. There is no requirement to have all the members joining in the process of registration of the Housing Society. You just need 8 members. Once the Housing Society is formed it can buy the land and get the plan sanctioned. Thereafter you may float any scheme of lottery or advertisements to sell the flats.
For more information about Co-operative Housing Society information and advice check here: http://advocatechenoyceil.wordpress.com/2014/02/19/co-operative-housing-society-west-bengal-rules/