The Union Cabinet has approved tenancy regulations for the Union territories of Andaman and Nicobar, Dadra and Nagar Haveli and Daman and Diu to provide "a legal framework" for creating an accountable and transparent ecosystem for renting premises, according to a statement issued by the government on Wednesday.
The Cabinet, chaired by Prime Minister Narendra Modi, approved a proposal for the promulgation of the Andaman and Nicobar Islands Tenancy Regulation, 2023, Dadra and Nagar Haveli and Daman and Diu Tenancy Regulation, 2023 and Lakshadweep Tenancy Regulation, 2023 under Article 240 of the Constitution.
Article 240 empowers the president to make regulations for the Union territories.
The regulations will provide a legal framework for creating an accountable and transparent ecosystem for renting premises in the Union territories by balancing the interests and rights of both the landlord and the tenant, the statement said.
"The regulations will give a fillip to private investment and entrepreneurship in the rental market, create adequate rental housing stock for various income segments of the society, including migrants, formal and informal sector workers, professionals, students etc.," it added.
