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 ...
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