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The Union Cabinet has approved the Model Tenancy Act. The government says this Act will provide an overhaul to the legal framework on rental housing and encourage private participation.
The Centre, following the Cabinet decision, issued a statement saying the Act is expected to give an impetus to private participation in rental housing as a business model for tackling the huge housing shortage
Centre Approves Model Tenancy Act To Create Inclusive Rental Housing Market Centre Approves Model Tenancy Act To Create Inclusive Rental Housing Market According to an official statement, Model Tenancy Act will help overhaul the legal framework with respect to rental housing across the country and the move will boost real estate growth.
The act will also enable institutionalisation of rental housing. (Representational)
New Delhi:
The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved the Model Tenancy Act for circulation to all State/Union Territories for adaptation by way of enacting fresh legislation or amending existing rental laws suitably.
New Delhi [India], June 2 (ANI): The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved the Model Tenancy Act for circulation to all State/Union Territories for adaptation by way of enacting fresh legislation or amending existing rental laws suitably.