asiapropertyawards.com-How Modi’s real estate reforms are transforming India’s housing market – and what’s next
Only two years into his first term, Narendra Modi rocked India’s real estate sector by introducing the Real Estate (Regulation and Development) Act, 2016 (RERA). This legislation marked one of the most comprehensive regulatory changes the market had ever seen, signalling the prime minister’s clear intent to tackle the inefficiency and corruption that had long plagued the industry.
Soon after re-election in 2019, Modi introduced another landmark initiative: the Model Tenancy Act. The move aimed to overhaul the country’s rental market by creating a more balanced framework for landlords and tenants, addressing a longstanding issue in India’s cities. Like RERA, this reform highlighted his method of confronting deep-rooted problems in the market through decisive legislative action, even in the face of resistance from vested interests.
