Union Cabinet Approves Model Tenancy Act for Circulation to States and UTs
The Union Cabinet, chaired by prime minister (PM) Narendra Modi, on Wednesday approved the 'Model Tenancy Act' for circulation to all states and Union Territories for adoption, by enacting fresh legislation or amending existing rental laws suitably.
 
"It (the model act) will help overhaul the legal framework with respect to rental housing across the country, which would help spur its overall growth," an official statement said.
 
The Model Tenancy Act aims at creating a vibrant, sustainable and inclusive rental housing market in the country, and to enable creation of adequate rental housing stock for all the income groups, thereby addressing the issue of homelessness.
 
It is intended to enable institutionalisation of rental housing by gradually shifting it towards the formal market.
 
"The Model Tenancy Act will facilitate unlocking of vacant houses for rental housing purposes. It is expected to give a fillip to private participation in rental housing as a business model for addressing the huge housing shortage," the statement said.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
 
Comments
sha79
3 months ago
This is a good news. I hope Moneylife soon publishes another article with the details and salient points of this act.
Kamal Garg
4 months ago
(1) The main features of the new law, i.e. Model Tenancy Act - even if at a drafting and model stage- should have been covered and explained in this blog post, rather, than just giving a reference to it which does not convey any meaning to your readers. Your readers will be able to give their views and comments only after the new draft act is available.
(2) And if the Model Tenancy Act gives some draft rent agreement/tenancy/lease agreement, then, this should be available to your readers so that your readers can give their comments and views and contribute towards better and more effective law, both, for landlord and tenant.
vaibhavdhoka
4 months ago
At present rental housing is the most draconian in India.It is colonial in nature,the landlord is the most affected party.If new act is enacted which should be balanced for all should be enacted and enforced.
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