- NET Web Desk
The Arunachal Pradesh Legislative Assembly today passed the ‘Tenancy Bill 2022’, to pave way for private participation in rental housing as a business model for addressing the huge housing shortage in the state.
It which was introduced in the House on Tuesday by Town Planning Minister Kamlung Mosang, was unanimously passed by the members through voice vote.
Addressing a statement to the House, Mossang said the bill is aimed at creating “a vibrant, sustainable, and inclusive rental housing market in the state”.
It will enable the creation of adequate rental housing stock for all income groups, thereby addressing the issue of homelessness, and enable institutionalization of rental housing by gradually shifting it towards the formal market; he said.
In order overcome the severe housing shortage, it is anticipated to boost private investment in rental housing, the minister added.
Mossang further stated that enactment of the proposed Act would pave the way for successful implementation of affordable rental housing model and unlock huge vacant construction properties in this segment thereby making rental housing financially attractive.
It will also help in addressing the challenges in rental housing sector by balancing the right and interest of both the landlord and the tenant, which would create a conducive atmosphere for renting out vacant premises and propel new investment in rental housing sector, the minister said.
Taking to Twitter, the Arunachal Pradesh Chief Minister – Pema Khandu wrote “Glad that Arunachal Pradesh Assembly passed Arunachal Pradesh Tenancy Bill, 2022. The Bill aims at creating a vibrant, sustainable & inclusive rental housing market in the State. It envisages to strike a balance between rights of tenants and landlords.”
“The Bill creates a transparent ecosystem for renting. It also aims at providing speedier dispute resolution framework and is expected to give a fillip to pvt participation in rental housing. It will enable institutionalization of rental housing,” – he further added.
The Bill creates a transparent ecosystem for renting.
It also aims at providing speedier dispute resolution framework and is expected to give a fillip to pvt participation in rental housing. It will enable institutionalization of rental housing. 2/2 pic.twitter.com/ofU3Ki0Juc
— Pema Khandu པདྨ་མཁའ་འགྲོ་། (@PemaKhanduBJP) September 8, 2022
