New Delhi: The Centre is likely to approve the model tenancy law in a month's time post which the law will be sent to the states for their adoption, said Durga Shanker Mishra, Secretary in the Union Ministry for Housing and Urban Affairs.
Speaking at a webinar organised by the PHD Chamber of Commerce and Industry, Mishra noted that the current laws for tenancy are complicated and difficult.
He said that the requirement was to ease the laws and also to balance the rights of the tenant and the renter. He noted that the dispute resolution system also had to be made simple.
Applauding the recent decision of the Maharashtra government to slash stamp duty, he said that other states can also do the same to boost demand in the real estate sector.