| The state government is working out on the formula to promote rental housing in the state and has appointed real estate consultancy firm Knight Frank to advise the government on the issue. |
| A senior government official said, "When Mumbai's flourished in late 19th century and early 20th century and established itself as a commercial capital of India, the cheap rental housing was available in plenty to all those who came in search of jobs in mills, port, railways and and other employments." |
| But due to laws like rent control act, after 1950s, no incentive remained to build the houses for rental income and thus slums sprang up all over city and in the new housing policy thrust is given on promoting the rental housing. |
| This will help us achieve us the target of constructing two lakh houses for middle income group and three lakh houses for lower income group, he added. |
| He further said, "After any person migrates from rural or semi-urban centers to big cities, first requirement is to find a accommodation which will act as shelter in the night and once settled down before moving to one's own premises one requires rental accommodation and we want to encourage all those who are ready to come forward to construct rental accommodations by providing them fiscal incentives and amending the law". |
| At this stage we don't rule out the possibility of waiving compulsory registration for live and licences agreement to make live and licence agreement scheme much more friendly and cost-effective, he added. |
| However before finalising our policy, we will like to have dialogues with citizen's organisations, town planners, developer's organisation and such others, he said. |
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