Model Residential Tenancy Act
Mumbai Tenants’ associations say that if the government wants to increase the supply, it should do so by levying a ‘vacancy tax‘ on vacant and unsold flats in Greater Mumbai. The associations’ call follows a recent proposal mooted by the Centre-draft Model Residential Tenancy Act 2011-to do away with antiquated rent control legislation and bring [...] Continue Reading »
The Mumbai Tenant associations decried proposed Model Residential Tenancy Act 2011 and claim that the move does not allow for Mumbai’s unique rental system and might leave lakhs of Mumbaikars homeless. Tenant associations claim that the new law would spell disaster for Mumbai, where thousands of old properties are still rented out under the long-standing [...] Continue Reading »
The Centre is of the opinion that the current legal system has discouraged landlords from reinvesting in their properties as rentals have been kept artificially low. The Model Residential Tenancy Act, 2011 prepared by the housing ministry is intended to replace archaic rent control legislations that capped rentals, resulting in landlords getting a pittance for [...] Continue Reading »
