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Fear of invoking traders’ ire keeps model tenancy act in limbo

Fear of invoking traders’ ire keeps model tenancy act in limbo

More than three years have passed since the housing and urban affairs ministry came out with the draft model tenancy act to bring relief to thousands of commercial property owners in Delhi, Mumbai and other major cities. But there has not been much progress as traders’ lobby in big cities are in favour of status quo. Housing ministry officials said the proposal is in the works, though the the draft was brought out in 2014 to replace the Rent Control Act of 1948 aimed at addressing the difficulties of landlords and tenants. The proposed outcomes include mutual fixing and revising of rent between the landlord and tenant, unlocking the existing properties which can be rented out and faster adjudication.Currently, majority of the commercial property owners in prime locations get rents fixed way back in 1960s.