Union Cabinet Approves Tenancy Regulations for Union Territories

The Union Cabinet, chaired by Prime Minister Narendra Modi, has given its approval for tenancy regulations in three Union territories – Andaman and Nicobar, Dadra and Nagar Haveli, and Daman and Diu. This move aims to establish a legal framework that ensures transparency and accountability in the rental property ecosystem.

Regulations Under Article 240 of the Constitution

The Cabinet approved the promulgation of three tenancy regulations: Andaman and Nicobar Islands Tenancy Regulation, 2023; Dadra and Nagar Haveli and Daman and Diu Tenancy Regulation, 2023; and Lakshadweep Tenancy Regulation, 2023. These regulations are enacted under Article 240 of the Constitution, which empowers the President to establish regulations for Union territories.

Balancing Landlord and Tenant Rights

The primary objective of these regulations is to strike a balance between the interests and rights of both landlords and tenants in the Union territories. By doing so, they aim to create a fair, accountable, and transparent rental property environment.

Benefits of the Regulations

The government statement highlights several advantages of these regulations:

1. Boosting Private Investment: The regulations are expected to encourage private investment and entrepreneurship in the rental market.
2. Expanding Rental Housing Stock: They will contribute to the creation of sufficient rental housing options catering to various income groups, including migrants, formal and informal sector workers, professionals, and students.

Month: Current Affairs - October, 2023

Category: India Nation & States Current Affairs