India’s housing market follows a home-ownership model, especially in the rural areas where rental arrangements are rare. Even in urban areas, 70 per cent of homes are self-owned; the rental market accounts for barely a quarter of the urban market. Still, that is a substantial number, so it is just as well that the government has brought out a model rental law for state governments to adopt. It will take a few years for the states to enact their legislation and set up special courts. Still, the new model law could fundamentally change the rental business, and housing itself.
TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST RS 249 A MONTH.
Already a premium subscriber? LOGIN NOW
SUBSCRIBE TO INSIGHTS
What you get on Business Standard Premium?
- Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
- Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
- Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
- Pick your 5 favourite companies, get a daily email with all news updates on them.
- 26 years of website archives.
- Preferential invites to Business Standard events.