Finance Minister K M Mani said here on Monday that the Kerala Buildings (Lease and Rent Control) Bill will be tabled in the Assembly, after the draft Bill gets approved by the Cabinet.
The Bill would make registration of rent and lease agreements mandatory for both households and business establishments.
Addressing a press conference here on Monday, after a discussion on the Bill with the representatives of building owners, tenants and traders, Mani said the draft Bill would be prepared addressing all the concerns raised by stakeholders.
“There was an agreement to increase the rent by 20 per cent every three years. Both these clauses will be introduced in the draft Bill. In the case of rented buildings without a lease agreement, it should be prepared within an year of passing the Bill,” he said.
The Minister said that the owner and the tenant are not able to enter into one agreement, the issue can be taken to the Arbitration Committee.
“If this Committee fails then there will be provision for the courts to step in,” Mani said. Also, if it is not enough to officially register the lease deed, the same has to be informed to the nearest police station.
The discussion on the Bill was attended by the representatives of All-Kerala Building Owners Association, Vyapari Vyavasayi Ekopana Samithi, Rental Entrepreneurs National Trust, Rental Building Owners Association and Vyapari Vyavasaya Samithi. Housing Secretary T O Sooraj also participated in the meeting.