Housing ministry to soon approach cabinet for approval of model tenancy law, says secretary – The Economic Times

Clipped from: https://economictimes.indiatimes.com/industry/services/property-/-cstruction/housing-ministry-to-soon-approach-cabinet-for-approval-of-model-tenancy-law-says-secretary/articleshow/80215056.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis

“We have received no comment from some of the states, while some have responded, which we are analysing. We are in the process and in a month or so, we should be taking it to union cabinet for approval. By March, it should be through,” Mishra said during the annual press conference of the ministry.

The housing and urban affairs ministry will take the draft model tenancy law to the cabinet for approval, housing and urban development secretary Durga Shanker Mishra said on Monday. The ministry also said that Central Vista project has been approved by the heritage conservation committee.

“We have received no comment from some of the states, while some have responded, which we are analysing. We are in the process and in a month or so, we should be taking it to union cabinet for approval. By March, it should be through,” Mishra said during the annual press conference of the ministry.

Union Minister Hardeep Singh Puri said that situation in real estate sector has improved vastly.

“Situation is much better in the real estate sector and the two associations -NAREDCO and CREDAI- associated with us have said they had the best Diwali in 20 years,” Puri said .

Both the minister and secretary have written to the states to reduce the stamp duty to further boost the sector.

“Apart from Maharashtra, Karnataka and Gujarat have also reduced stamp duty. As it is in my knowledge, other states are also in the process. I have written two letters while minister has written one. In my discussion with state secretary, I keep mentioning this,” Mishra said.

The ministry is also considering some changes in the Real Estate Regulatory Authority (RERA) act. The changes pertains to the difficulty faced by RERA in implementing orders.

“RERA is here to stay, there is no question of any dilution. It has introduced discipline,” Puri said.

So far 34 States/UTs have notified rules under RERA while the state of Nagaland is under process to notify the rules.

West Bengal has enacted its own legislation, which has been challenged before Supreme Court and MoHUA has filed its affidavit to annul it.

Around 60,000 real estate projects and 46,000 real estate agents have registered under RERA across the country. Around 60,000 complaints have been disposed-off by the Real Estate Regulatory Authorities across the country.

The ministry said that Affordable Rental Housing Complexes (ARHCs) as a sub scheme under PMAY-U was approved to provide ease of living to urban migrants/poor in Industrial Sector as well as in non-formal urban economy to get access to dignified affordable rental housing close to their workplace.

So far, 29 States/UTs have signed MoA (Memorandum of Agreement) for implementation of ARHCs. Gujarat and UT of Chandigarh have become first movers by identifying existing government vacant houses and furthering allotment processes.

The UT of Chandigarh has identified 2195 such houses, out of which 1703 have been already allotted to urban poor families. In Gujarat, RFPs have been issued for Rajkot and Ahmedabad whereas concessionaire has been selected for Surat.

Around 20,000 houses under the AHP vertical of PMAY-U were used as COVID facilities.

Extension of CLSS for MIG will benefit 2.5 lakh Middle income families mobilising an investment of Rs 70,000 crore in financial year 2020-21, the ministry said.

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