Just a few days after Finance Minister Nirmala Sitharaman, in her maiden Union Budget speech, termed the existing rental laws, archaic the Ministry of Housing and Urban Affairs has come out with the draft Model Tenancy Act, 2019.
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The draft which is now open for public feedback till August 1 aims at a re-haul of the existing system, and will benefit both tenants and landlords alike.
According to government data, about 1.1 crore premises are lying vacant in urban areas as landlords fear the tenants may usurp their properties once it is rented out. The new proposal aims to make them available for people to take them on rent.