The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved the Model Tenancy Act. In a release, the central government said that the Model Tenancy Act will facilitate unlocking of vacant houses for rental housing purposes. Here are the salient features of the act:The government said that the Model Tenancy Act aims to create a vibrant, sustainable and inclusive rental housing market in the country. It will enable creation of adequate rental housing stock for all the income groups thereby addressing the issue of homelessness. The act will enable institutionalisation of rental housing by gradually shifting it towards the formal market, it further said.

Source: Hindustan Times June 02, 2021 09:33 UTC