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Rental Housing in India Is on the Verge of Entering a New Orbit Maya M 2 The new Model Tenancy Act 2020, which is currently under discussions at the Centre, aims to bridge the trust deficit between tenants and landlords by clearly delineating the obligations of tenants and landlords. The draft Act seeks to ensure speedy redressal of disputes by proposing to establish rent courts and rent tribunals to hear appeals for matters connected to rental housing. For the first time in decades, the government has given rental housing its due attention which may help it fulfil its vision of housing for all. ....
6 On Tuesday, Union minister for housing and urban affairs, Hardeep Singh Puri, released a report prepared by Moneylife Foundation to document the efficacy of Real Estate Regulation and Development Act, 2016 (RERA) in India from the consumer perspective. The research project, made possible due to the support of Housing Development Finance Corp (HDFC) and its top management team, highlighted that RERA has been a game changing legislation that has imposed discipline, transparency and accountability on developers and intermediaries.
However, the Report on Efficacy of RERA From the Consumer Perspective 2020 shows that the implementation of the law has been slow. While the report documents great strides made by some states like Maharashtra, it also points out that adoption and implementation across different states is uneven. West Bengal stands out like a sore thumb having enacted its own law. It has taken three years for some states to fall in line. Here is ....