MHADA Unveils New Rental Housing Policy: Benefits for Tenants and Landlords in MMR

• MHADA announces a new rental housing policy for the Mumbai Metropolitan Region (MMR) to address increasing demand and ensure fair practices.
• The policy aims to make rental transactions smooth, secure, and legally sound, clarifying financial dealings and preventing disputes.
• Key provisions include defining a 'defaulter' after three months of unpaid rent and mandatory e-KYC for landlords and tenants on an online portal.
• It offers legal protection for landlords and a clear complaint process for tenants, with a condition to vacate before seeking redressal.
• Discussions are underway for insurance coverage for landlords' rental income and plans to develop 50 inclusive rental residential zones using land from CIDCO, MMRDA, MHADA, and private developers.