By TIOL News Service

NEW DELHI, OCT 04, 2023: THE Union Cabinet, has approved the proposal for promulgation of (i) The Andaman and Nicobar Islands Tenancy Regulation, 2023 (ii) The Dadra and Nagar Haveli and Daman and Diu Tenancy Regulation, 2023 (iii) The Lakshadweep Tenancy Regulation, 2023 under Article 240 of the Constitution of India.

The Andaman and Nicobar Islands Tenancy Regulation, 2023; the Dadra and Nagar Haveli and Daman and Diu Tenancy Regulation, 2023; and the Lakshadweep Tenancy Regulation, 2023 will provide a legal framework for creating an accountable and transparent ecosystem for renting premises in the Union territories of Andaman and Nicobar Islands; Dadra and Nagar Haveli and Daman and Diu; and Lakshadweep by balancing the interests and rights of both the landlord and tenant.

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 society including migrants, formal and informal sector workers, professionals, students etc.; it will also help to increase access to quality rental accommodation; and lead to gradual formalisation of the rental housing market which will create a vibrant, sustainable and inclusive rental housing market in the Union territories of Andaman and Nicobar Islands, Dadra and Nagar Haveli and Daman and Diu and Lakshadweep.