Model tenancy act to strengthen organised rental housing in India
The Union Cabinet approved the model tenancy act (MTA) for adoption and enactment by states and UTs to promote rental housing in India, ministry of housing and urban affairs (MoHUA), said adding, “Making 1.1 crore vacant houses available on rent will complement the vision of Housing for All by 2022”. For comparison, Primus Partners and Guesture Co-living in a report last year said that India’s residential rental market touched annual figures of over $20 billion, or more than Rs 1.45 lakh crore (IMF). Of this, 68% ($13.5 billion) is in urban areas.
Publication - Financial Express