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The NAREDCO NextGen Conclave 2025, held in Mumbai, showcased key developments in the real estate sector, with a focus on MSRTC's land bank development, regulatory reforms, and industry trends. Shri Pratap Sarnaik, Honourable Minister of Transport, Maharashtra, announced plans to fast-track the development of MSRTC bus depots, encouraging developers to participate in the initiative. The event also marked the launch of NAREDCO NextGen's 'Digital Learning Hub' for real estate professionals. Discussions revolved around financial innovations, urban development, and the transformative impact of AI, alongside insights from industry leaders on sustainable growth and regulatory changes. The conclave concluded with the announcement of the upcoming NAREDCO Maharashtra Annual Members Meet 2025 in Goa.
The NAREDCO NextGen Conclave 2025 served as a crucial platform for industry professionals, offering thought-provoking discussions on real estate trends, AI-driven transformation, and the impact of Budget 2025 on the sector. Advertisement
Held earlier this week, Shri Pratap Sarnaik, Honourable Minister of Transport, Government of Maharashtra, announced that the Maharashtra State Road Transport Corporation (MSRTC) would expedite the development of its bus depots across district, taluka, and rural areas. To facilitate this, the government plans to issue approximately 150 to 160 tenders in the near future. He was addressing the NAREDCO NextGen Conclave 2025, organised by NAREDCO NextGen in Mumbai.
Delivering the keynote address, Shri Sarnaik highlighted that MSRTC possesses an extensive land bank of around 3,360 acres. He further informed attendees that renowned architect Hafeez Contractor has been appointed to present a comprehensive development plan for these depots. Emphasising the strategic significance of these land parcels, he encouraged developers to participate in constructing commercial or residential projects on these sites.
Shri Sarnaik stated that MSRTC would be designated as a Planning Authority to oversee the project's execution, thereby streamlining the approval process under a single entity. He also assured that the MSRTC's technical team would be strengthened to facilitate this transition.
Appealing to developers to extend their focus beyond urban centres, the Minister pointed out the real estate potential in areas such as Lonavala-Khandala and Mahabaleshwar. He noted that while some areas remain restricted due to forest and no-development zones, a substantial portion will soon benefit from new Development Control and Promotion Regulations (DCPR), allowing for higher Floor Space Index (FSI). Additionally, he stated that efforts are underway to extend land lease periods from 60 years to 99 years.
During the conclave, Shri Sarnaik officially launched the NAREDCO NextGen 'Digital Learning Hub,' an innovative online platform designed for young real estate professionals. This platform will provide insights into emerging trends, technological advancements, and policy updates, collaborating with leading institutions to offer certification programmes.
Jay Morzaria, National Chairman of NAREDCO NextGen, extended a warm welcome to distinguished guests and underscored the conclave's significance in fostering collaboration and progress in the industry.
Dr Niranjan Hiranandani, Chairman of NAREDCO, commended the role of RERA in enhancing transparency and trust within the real estate sector. He highlighted how innovation, particularly from young professionals, is instrumental in shaping the industry's future, with a strong emphasis on digital transformation and social media strategies.
Mr Rajan Bandelkar, Vice Chairman of NAREDCO, lauded the government's reforms and tax rationalisation efforts that have significantly impacted the real estate industry. He urged the sector to focus on sustainable practices, addressing issues such as global warming and waste management, while also leveraging AI for technological advancements. Additionally, he projected that the demand for affordable housing would remain a key driver of growth.
Mr Hari Babu, President of NAREDCO, expressed optimism about the new tax regime's potential to attract fresh investments into real estate. He underscored the importance of women's participation in the industry, recognising their role in fostering innovation. He also highlighted the impact of urban migration and called for sustainable urban planning to accommodate rising housing and infrastructure demands.
The conclave also marked the announcement of the newly elected committee members of NAREDCO NextGen, who will lead various initiatives within the organisation.
A panel discussion titled "Financing the Future: Exploring Innovative Avenues for Growth" featured distinguished experts who shared insights on the evolving landscape of financial innovation. They discussed how large-scale investors and institutions have transformed the real estate market over the past 14 years, shifting it from a speculative industry to a structured, investable asset class.
Another panel discussion, "Real Estate 2030: Shaping the Future of Urban Landscapes," brought together industry stalwarts to explore emerging trends and their impact on urban development in the coming decade.
The event concluded with the announcement of the NAREDCO Maharashtra Annual Members Meet 2025, scheduled to take place in Goa. Over 200 members are expected to participate in discussions aimed at furthering the progress of the real estate sector.
The NAREDCO NextGen Conclave 2025 successfully brought together real estate professionals, policymakers, and industry leaders to deliberate on the future of the sector. As the sector embraces AI and technology, the conclave reinforced the significance of collaboration and forward-thinking strategies to ensure sustained growth and transformation in the real estate landscape.
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