The Government may consider amendments in the real estate law RERA, if required, to make it more effective, Housing and Urban Affairs Secretary Durga Shankar Mishra said on Monday. Addressing NAREDCO's real estate conference, he said the Housing and Urban Affairs Ministry will soon take up the model tenancy law to the Cabinet for approval and then the same will be circulated to states for implementation. Mishra said the Real Estate (Regulation and Development) Act 2016, which came into force from May 2017, has brought respect and value to this sector, which was earlier unregulated and known for blackmoney.
The secretary said the Centre will hold consultation with all stakeholders on RERA implementation in all states. If needed, he said, the government will bring amendments to make it more effective. Talking about model tenancy law announced in the Budget, Mishra said the draft has already been posted on the website and more than 500 suggestions have already been received.
“We will very soon approach the Cabinet for approval. Then the model law will be circulated to states,” he added. Mishra said most of the tenancy laws are in favour of tenant, not the owner and as a result flat owners do not want to let out their house. He said 1.1 crore homes were vacant as per 2011 census. The proposed model law would boost rental housing, the secretary said, and asked builders to consider putting their unsold flats on rent.