Real Estate

Centre brushes aside concerns of proposed Model Tenancy Act going RERA way

Our Bureau New Delhi | Updated on July 23, 2019 Published on July 23, 2019

Hardeep Singh Puri ,Minister of Housing and Urban Affairs & Civil Aviation addressing a press confrence along with Durga Shanker Mishra, Secretary,Housing and Urban Affairs (L) ,in New Delhi   -  Kamal Narang

To rent the premises in an efficient manner, the ministry has circulated a draft Model Tenancy Act to all the states/ UTs and has asked for their comments by July 26, 2019

The Ministry of Housing and Urban Affairs is hopeful of proper execution of Model Tenancy Act, unlike what happened with Real Estate (Regulation and Development) Act, and said that all the States are on board for its swift implementation.

“There is a lot of difference... . With RERA, we were going for a completed unregulated real estate market where there was no regulator. However, in the model tenancy Act there are both regulated and unregulated rental markets,” said Hardeep Puri, Minister of State (Independent Charge), Ministry of Housing and Urban Affairs.

To rent the premises in an efficient manner, the ministry has circulated a draft Model Tenancy Act to all States/ UTs and has asked for their comments by July 26, 2019.

Stakeholders can give their feedback by August 1, 2019. “We have MoUs signed from PMAY-U with the all the States, including West Bengal, that when the Centrecomes up with the Model Tenancy Act, the States will either enact the same Act or align it with their existing laws,” said Durga Shankar Mishra, Secretary, Ministry of Housing and Urban Affairs.

Suggestions from public

Till date, 56 suggestions have been received from public which are around the amount of security deposit, specified notice period for vacating a premise, special provisions for senior citizens and NRI landowners to name a few, according to the statement issued by the ministry.

Published on July 23, 2019

A letter from the Editor

Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!


Support Quality Journalism
This article is closed for comments.
Please Email the Editor
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.