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Union Cabinet approves Model Tenancy Act to create ‘inclusive rental housing market’

NEW DELHI: The Union Cabinet on Wednesday approved the Model Tenancy Act for “circulation to all states/Union Territories for adaptation by the way of enacting fresh legislation or amending existing rental laws suitably.”
The cabinet, chaired by Prime Minister Narendra Modi, stated that the Act will help overhaul the legal framework with respect to rental housing across the country, which would help spur its overall growth.
The Model Tenancy Act aims at creating a vibrant, sustainable and inclusive rental housing market in the country.
It also plans to enable creation of adequate rental housing stock for all the income groups.
The Act will facilitate unlocking of vacant houses for rental housing purposes and is expected to give a fillip to private participation in rental housing as a business model for addressing the huge housing shortage, the cabinet further noted.

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