Centre's draft Model Tenancy Act aims to bridge demand-supply gap

The proposed reforms could bring in much-desired relief to tenants and home owners alike

The draft Model Tenancy Act, 2019, released by the government on Wednesday, has the potential to bridge the demand-supply gap in the rented residential property market. The draft, through a slew of reform measures, could unlock about 25 million residential establishments across the country that are vacant. 

According to the latest Census data in 2011, nearly 10 per cent or 11.1 million of the urban residential establishments, are vacant. In the rural market, or 13.58 million homes are unoccupied, or 6.2 per cent of the total properties. According to estimates, there is a demand for 18.8 million homes in urban areas. 

Further,