In this series, the Union Cabinet has approved the proposal for tenancy rules for Andaman and Nicobar Islands, Lakshadweep, Dadra and Nagar Haveli and Daman and Diu.
During the last few years, there has been a huge increase in the rental market i.e. rents. But due to lack of proper rules or framework, common people have to face a lot of problems. However, the government is making efforts to improve and promote this market.
In this series, the Union Cabinet has approved the proposal for tenancy rules for Andaman and Nicobar Islands, Lakshadweep, Dadra and Nagar Haveli and Daman and Diu. The government said in a statement on October 4 that the objective of this rule is to create an accountable and transparent ecosystem for renting space at these locations.
Rules for Union Territories
These regulations include Andaman and Nicobar Islands Tenancy Regulation, 2023, Dadra and Nagar Haveli and Daman and Diu Tenancy Regulation, 2023 and Lakshadweep Tenancy Regulation, 2023.
Who will be helped by the new rules?
The government issued a statement saying that these rules will promote private investment and entrepreneurship in the rental market. Along with this, these rules will make arrangements for rental housing for different earning sections of the society including migrants, formal and informal sector workers, professionals, students.
This will increase the quality. The tenancy rules will provide a legal framework to create an accountable and transparent ecosystem for renting out premises in the Union Territories by balancing the interests and rights of both the landlord and the tenant.
The statement further said that formalizing the rental housing market will promote a good, sustainable and inclusive rental housing market in these union territories.
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