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Thursday, Sep 29, 2005

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Housing policy

To give a fillip to the rental housing market and service apartments, the proposal in the draft National Housing and Habitat Policy, 2005, for income-tax sops on renting out new properties (Business Line, September 26) is welcome.

But most residential buildings are not rented out not because of income-tax but because of fear of losing the property itself. Rent cannot be increased even after many years and houses cannot be easily recovered, because the law is more favourable to the tenants. Sometimes, tenants sub-let the property. What, therefore, is more important is to bring about reform in the existing laws.

A. Jacob Sahayam


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