As per the 2011 census, we found out that only 21 millions of urban houses were given out on rent. Conservative estimates state that as many as around 1 crore houses are standing vacant for various reasons. But a major factor for this is the investor sentiment regarding the lack of a formal and sound mechanism to resolve tenant-landlord conflicts apart from a very expensive and tedious route of filing a civil lawsuit. This resulted in a huge wastage of resources and loss of potential revenue for both property owners and government. It also resulted in a shortage of supply of good rental properties, causing chaos in the rental industry. Many such ambiguities gave birth to the New Tenancy Law.As per the 2011 census, we found out that only 21 millions of urban houses were given out on rent. Conservative estimates state that as many as around 1 crore houses are standing vacant for various reasons. But a major factor for this is the investor sentiment regarding the lack of a formal and sound mechanism to resolve tenant-landlord conflicts apart from a very expensive and tedious route of filing a civil lawsuit. This resulted in a huge wastage of resources and loss of potential revenue for both property owners and government. It also resulted in a shortage of supply of good rental properties, causing chaos in the rental industry. Many such ambiguities gave birth to the New Tenancy Law.

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