The Maharashtra government has announced plans to fast-track the development of Maharashtra State Road Transport Corporation (MSRTC) bus depots across district, taluka, and rural areas. The state will soon float 150 to 160 tenders for the project.
At the NAREDCO NextGen Conclave 2025 in Mumbai, the state transport minister stated that MSRTC holds a land bank of approximately 3,360 acres, which will be developed for commercial and residential purposes. The government has appointed architect Hafeez Contractor to draft a development plan.
To expedite the process, MSRTC will be designated as a planning authority, allowing it to approve plans independently. A technical team will be established to oversee project execution. Developers were urged to explore real estate opportunities beyond major cities, including rural areas. The government is also working on extending the land lease period from 60 years to 99 years to encourage long-term investments.
New Digital Learning Hub Launched for Real Estate Professionals
The transport minister also launched the NAREDCO NextGen Digital Learning Hub, an online platform designed to provide insights into real estate trends, new technologies, and policy updates. The initiative aims to equip young professionals with certifications from leading institutions.
Discussions on Real Estate Growth and Future Trends
The NAREDCO NextGen Conclave 2025, held at JIO Convention Centre, Mumbai, featured discussions on real estate trends, AI adoption, and Budget 2025’s impact on the sector.
The chairman of NAREDCO highlighted the role of RERA in improving transparency and accountability in real estate. He also emphasized the importance of innovation and noted that younger professionals are driving social media and digital transformation in the industry.
The vice chairman of NAREDCO credited government reforms and tax rationalization for transforming the sector. He also stressed the need to address climate change, sanitation, and the integration of AI in real estate.
The president of NAREDCO discussed how the new tax regime is expected to boost investments in real estate, particularly in affordable housing. He also called for greater participation of women in the sector and emphasized sustainable urban planning to accommodate rising migration to cities.
Panel Discussions on Real Estate Financing and Future Urban Landscapes
The event featured panel discussions on financing and the future of urban development. Experts highlighted how institutional investors have driven real estate consolidation over the past decade, turning it into a structured, investable asset class.
Another panel discussion, titled “Real Estate 2030: Shaping the Future of Urban Landscapes,” focused on the factors influencing city development over the next decade.
Upcoming NAREDCO Maharashtra Annual Meet
The event concluded with the announcement of the NAREDCO Maharashtra Annual Members Meet 2025, scheduled for February 15-16, 2025, in Goa, where over 200 members will participate.
