Can one Individual have one tenancy rights & ownership of other residential property

Yes, an individual can legally hold tenancy rights in a property under the Pagdi system while simultaneously owning another residential property.

There is no legal provision in India that restricts a person from owning a residential home simply because they are a tenant (including a "Pagdi" tenant) in another property. Your ownership status of a separate property does not invalidate or compromise your existing tenancy rights in a Pagdi-leased premises.

Key Clarifications:

• Distinct Legal Rights: Ownership of a property (where you hold a registered sale deed) and tenancy rights (under the Rent Control Act for Pagdi properties) are two separate legal domains. Owning one does not trigger an automatic forfeiture of the other.

• The Nature of Pagdi: The Pagdi system is a unique, long-standing tenancy model prevalent in cities like Mumbai, Delhi, and Kolkata. Under this system, the tenant holds significant rights, including the right to occupy the premises indefinitely at a nominal rent and the right to transfer or sell these tenancy rights (often with the landlord’s consent and a share of the proceeds).

• No Conflict: Because these are independent rights, you are free to own a separate home independently. You will not lose your tenancy status under the Pagdi system due to the acquisition of another residential property.

Important Considerations:

• Transfer/Sale: If you eventually decide to transfer or sell your Pagdi tenancy rights, the process usually involves a tripartite agreement between you, the landlord, and the incoming tenant. Always ensure you have the necessary No Objection Certificate (NOC) from the landlord, as per the custom or agreement, to avoid future complications.

• Legal Advice: If you are concerned about specific clauses in your existing Pagdi agreement or are planning a transaction, it is advisable to consult with a property lawyer or a Chartered Accountant who specializes in real estate and tax implications, as specific state rent control acts (like the Maharashtra Rent Control Act) can have localized nuances.

Summary: You can legally own a residential property while holding tenancy rights under the Pagdi system. These are separate legal interests, and owning a home does not result in the loss of your tenancy rights in a Pagdi-protected property.