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Synopsis
Once the ordinance is promulgated, signing of contract will become compulsory to rent out a property. This will safeguard the interests of both, the property owner and the tenant. The ordinance has made provision for a rent authority and rent tribunal to resolve disputes. These bodies will be tasked to resolve issues within 60 days.
The Uttar Pradesh cabinet has approved the decision to bring in the Uttar Pradesh Regulation of Urban Premises Tenancy (second) Ordinance 2021.
The provisions of the ordinance will lead to reduction in tenancy disputes and in older cases rents can be revisited.
Once the ordinance is promulgated, signing of contract will become compulsory to rent out a property. This will safeguard the interests of both, the property owner and the tenant.