Dr. Samantak Das, Chief Economist and Head Research & REIS, JLL
The Model Tenancy Act is going to give a guiding framework to all states to make their respective Tenancy Acts contemporary. Current Acts will give way to the new ones where uniformity will prevail, and it will give confidence to homeowners for renting out of existing vacant properties. Also, if the states implement the Tenancy Act in true letter and spirit of the Model Act, we will inch towards institutionalisation of rental housing market. In case of RERA, the central Act helped states like Maharashtra to make MahaRERA successful to a large extent. In similar lines, we may expect Tenancy Acts in states to become more efficient in providing level playing field to both owners and tenants.
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