Delhi / Big news for renters! Government approves new law, housing shortage will be overcome

New Delhi. There is big news for the people associated with the tenant or rental sector. The Model Tenancy Act has been approved in the cabinet meeting chaired by Prime Minister Narendra Modi on Wednesday. After this, all the states and union territories will be able to change the existing rules related to rental. Along with this, permission has also been given to the state governments to implement new rules in the new law. The government has said that this will help the rental housing sector across the country.

Under the Model Tenancy Act, now authorities can be created in the states, with the help of which cases related to rental housing can be heard and settled. The government has said that the new law will help in improving the legal system in the region. Under this law, the government has also taken into account the issue of homelessness.

In a statement issued by the Center, it has been said that adequate stock of rental housing can be prepared for all income groups. It has been told in the statement that gradually the system of rental housing will also get the form of a market. It is being said that the discussion regarding this law was going on for a long time. Experts were demanding changes in the law.

After the introduction of the Model Tenancy Act, there will be an exercise to open the vacant houses to the tenants. The government expects that rental income will also be seen as a business model to address the housing shortage, leading to increased private sector partnerships. It is reported that the government has also included new provisions and rules for the tenants and landlords