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Karnataka will adopt the Central Tenancy Act in its entirety ibtimes.co.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ibtimes.co.in Daily Mail and Mail on Sunday newspapers.
Karnataka to adopt central Tenancy Act in toto prokerala.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prokerala.com Daily Mail and Mail on Sunday newspapers.
According to ratings agency ICRA, with such measures, the successful roll-out of the MTA is expected to have a positive impact on market functioning by creating a balanced legal framework, which would improve transparency and protect the interests of all key stakeholders. ....
The Model Rent Act has the power to effect a sea change in the residential and rental markets across the country, once state governments enact them as laws in their own states and Union Territories.. ....
WHAT IS MODEL TENANCY ACT? Model Tenancy Act The central government on June 3 approved the Model Tenancy Act for circulation among states and union territories, which will adopt the changes by amending their existing rental laws in the country. According to 2011 Census data, there is a demand for 18.8 million homes in urban areas. The proposed reforms are much-desired relief to tenants and homeowners alike. In her Budget speech of 2019, Finance Minister Nirmala Sitharaman said the current rental laws are archaic, as they do not address the relationship between the lessor and the lessee fairly. The approved Model Tenancy Act seeks to address the distortions in the rental market and help modernise it. ....