The Housing (Scotland) Act will see right to buy abolished for all new homes built in the social sector.
It is expected that up to 18,000 homes would be kept in the social rented sector over the next 10 years, rather than being sold to tenants.
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A new Scottish Housing Regulator (SHR) will be created, and the introduction of a charter for social housing, aims to improve value for tenants and taxpayers by assessing landlords' performance.
Around one in four Scottish households, about 600,000 homes, are in the social rented sector.
With Royal Assent, the Act’s provisions on Right to Buy will come into force on March 1, 2010.
Housing and Communities Minister Alex Neil said: "This is a major milestone for social housing in Scotland.
“The Housing Act will ensure that social housing is protected for future generations, providing homes for the people and jobs in the Scottish economy.
“It will give Council and Housing Associations the confidence to invest in new housing without fearing they will have to sell those houses at a discounted price.”
(GK)
