Note On Model Tenancy Law

India's real estate market is said to grow to INR 65,000 crore (US$ 9.30 billion) by 2040 from INR 12,000 crore (US$ 1.72 billion) in 2019. Real estate sector in India is expected to reach a market size of US$ 1 trillion by 2030 from US$ 120 billion in 2017 and contribute 13% (thirteen percent) to the country's GDP by 2025. Retail, hospitality, and commercial real estate are also growing significantly, providing the much needed infrastructure for India's growing needs. Indian real estate increased by 19.5% CAGR from 2017 to 2028.¹

The recent trends in the real estate market required standardisation of the tenancy and rent control laws. In lieu of the aforesaid, the Ministry of Housing and Urban Affairs prepared the draft Model Tenancy Act, 2020. The need for the aforesaid model legislation has arisen to bridge the gap between the growing need for housing on one hand and the non-availability of houses for rental purposes on the other.  To understand the growing