FREE COMPLETE STUDY MATERIAL NOTES FOR IBBI EXAMINATION
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ONLINE BATCH STUDY MATERIAL-50 HRS EDUCATIONAL COURSE UNDER RULE 5(1) READ WITH RULE 12(2)(a) FOR REGISTRATION AS VALUERS UNDER THE BANNER OF CEV IAF RVO
UNIT-5
CHAPTER-5
RENT CONTROL ACT
A central Rent Control Act was passed by the legislature in 1948. It regulates the rules of letting out a property and ensures that neither the landlords nor the tenants’ rights are exploited by the other. It should also be noted that currently, each state has its own Rent Control Act, though largely similar to each other, they carry some minor differences.
Due to the 1948 Act being extremely stringent and pro-tenant, the real estate market has had difficulty in growing in some areas. There are some properties that have been let out that are still paying the same amount of rent since 1948, disregarding inflation and increased property valuations.
In 1992 the Central Government tried to bring about amendments to the Act via a proposed model to ensure that the property is not devalued. Unfortunately, the changes were opposed by the sitting tenants and therefore failed to take effect.
Under the Indian Constitution, the provision of housing is a state issue. Thus the enactment and enforcement of these laws is the ………………………READ MORE
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