Walking through any major Indian city—be it Delhi, Mumbai, Kolkata, or Bengaluru—you’re likely to encounter a striking contrast: gleaming skyscrapers and modern malls standing side by side with crumbling, timeworn buildings. These dilapidated structures, often located in prime commercial or residential zones, tell a silent story of neglect and policy paralysis.

Despite their high real estate value, many of these buildings remain untouched by development, their facades cracked, balconies rusting, and walls blackened by pollution and age. They are relics of a bygone era, trapped in a legal and economic limbo, often due to outdated rent control laws that discourage maintenance and redevelopment. This urban decay not only mars the cityscape but also symbolises the untapped potential of India’s urban core.

India’s rent control laws, such as the Delhi Rent Control Act of 1958, were introduced to protect tenants from post-independence housing shortages and inflation. These laws capped rents at artificially low levels and made tenant eviction nearly impossible. While they provided short-term relief to tenants, they inadvertently created a long-term urban........

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