The Union Cabinet, on Wednesday, approved the Model Tenancy Act. Now, this will be circulated among States and Union Territories for adoption by way of enacting fresh legislation or amending existing rental laws suitably.

“It will help overhaul the legal framework with respect to rental housing across the country, which will help spur its overall growth,” a statement issued by the Government said. Further it mentioned that this Act aims at creating a vibrant, sustainable and inclusive rental housing market in the country. It will enable creation of adequate rental housing stock for all the income groups, thereby addressing the issue of homelessness.

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It will enable institutionalisation of rental housing by gradually shifting it towards the formal market beside facilitating 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 mentioned

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MoC with Japan

The Cabinet also gave approval to one agreement, one Memorandum of Cooperation (MoC) and two Memorandums of Understanding (MoUs).

The MoC with Japan is on sustainable urban development. It will replace the existing MoU of 2007. “The MoC will promote strong, deep and long-term bilateral cooperation in the field of sustainable urban development between the two countries,” the statement said.

It also stated that a Joint Working Group (JWG) will be constituted to strategise and implement programmes on cooperation under the framework for the cooperation. The group will meet once in a year, alternately in Japan and in India. The cooperation will continue for a period of five years. Thereafter, it may be renewed automatically for further successive periods of five years at a time.

Other pacts

The Cabinet gave its post facto approval for signing and ratification of an Agreement on ‘Cooperation in the field of Mass Media’ between all the Member States of Shanghai Cooperation Organisation. The Agreement was signed in June 2019.

“The Agreement shall promote equal and mutually beneficial cooperation among associations in the field of Mass Media. Each Side shall, on the basis of reciprocity, facilitate the activities thereby ensuring equity,” the Government statement said, adding that it would provide an opportunity for the Member States to share best practices and new innovations in the field of mass media.

The Cabinet also gave its nod for an MoU between India and the Argentine Republic on cooperation in the field of mineral resources. It will provide an institutional mechanism for the cooperation in this field