The government can amend the law RERA of the real estate sector. Amendments can be made to make it more effective. At the same time, discussions on the model of new tenancy law have also started.
New Delhi: Housing and Urban Affairs Secretary Durga Shankar Mishra said on Monday that the government could consider amending the real estate law to make RERA more effective, if needed.
Addressing the conference of NAREDCO (National Real Estate Development Council), he said that the Ministry of Housing and Urban Affairs would soon put the model of tenancy law before the cabinet for approval. After that it will be sent to the states.
The Secretary said that the Real Estate (Regulation and Development) Act 2016, which came into force from May 2017, has brought respect for the area whereas earlier this area was known as an area with black money and without law.
He said that the Center will discuss with the concerned parties about the implementation of RERA in all states. Mishra said that if needed, the government will amend it to make it more effective.
Regarding an ideal tenancy law, he said that the draft has been put on the website and more than 500 suggestions have been received. He said, ‘We will soon put it before the cabinet for approval. After that the Model Law will be sent to the states for consideration.
The Secretary said that most of the tenancy laws are in favor of the tenant and not the landlords. Due to this, the flat owners do not want to rent their house. He said that according to the 2011 survey, 1.1 crore houses were lying vacant.
Mishra said that the proposed model tenancy law would speed up the rental of houses. He asked the builders to consider renting the unsold flat.