Delivering the keynote address at the NAREDCO NextGen Conclave 2025 organized recently in Mumbai, Pratap Sarnaik, Minister of Transport, Government of Maharashtra, shared that MSRTC holds a vast land bank of approximately 3360 acres. Architect Hafeez Contractor has been appointed to come up with a presentation to develop MSRDC Bus Depots. He emphasized the need to develop these strategically located landbanks and urged the state’s developers to come forward to develop the commercial or residential premises. MSRTC will be made a planning authority and it will sanction the plans under one roof and its technical team capacities will be built for the same, he affirmed.
He informed about the land bank in areas such as Lonavala – Khandala, Mahabaleshwar where new DCPR rules are not applicable due to forest and no-development zones, but a major portion of the land will come under the ambit of new DCPR, which will provide adequate FSI for new development. Additionally, efforts are underway to extend the land lease period from 60 years to 99 years.
The Minister also officially launched the NAREDCO NextGen ‘Digital Learning Hub’ designed for young real estate professionals, offering comprehensive insights into emerging trends, cutting-edge technologies, and the latest policy updates. The platform aims to collaborate with top institutions across the country to offer certification programs, empowering the next generation of real estate leaders with the knowledge and skills needed to thrive in an ever-evolving industry.
NAREDCO NextGen Conclave 2025 provided a dynamic platform for young visionaries, industry disruptors, and emerging decision-makers to engage in thought-provoking discussions, foster innovation, and collaborate on strategies for a sustainable and inclusive future. The event discussed various real estate trends, growth avenues, AI revolution and the impact of Budget 2025 on the real estate industry.
Jay Morzaria, National Chairman, NAREDCO NextGen described the conclave as a platform for deliberating on ideas, collaboration, and progress. The discussions will tackle key challenges and trends, from policy and finance to technology and evolving buyer needs, he said.
Dr. Niranjan Hiranandani, Chairman of NAREDCO, highlighted the positive impact of RERA in dispelling misconceptions about the real estate industry. He emphasized how the regulatory framework has brought greater transparency, accountability, and trust among stakeholders. Furthermore, he spoke about the role of innovation in shaping the future of the industry, particularly through the younger generation. He acknowledged that fresh and creative ideas often emerge from individuals under the age of 30, especially in the realm of social media and digital transformation. He encouraged industry leaders to learn from the younger generation, leveraging their insights and technological expertise to drive progress and enhance market outreach.
Rajan Bandelkar, Vice Chairman, NAREDCO praised the Prime Minister and the Finance Minister’s efforts to unleash a wave of transformation in the Indian real estate industry through reforms and tax rationalization. He also cautioned the industry to take a note of issues such as global warming, SWACHH Bharat and a holistic use of AI for technology adoption. He also anticipated the sector’s continued focus on affordable housing as a demand driver.
Hari Babu, President, NAREDCO stated that the new tax regime will usher fresh investments by the tax payers into the real estate sector impacting the demand for affordable housing. He further emphasized the need for greater women’s participation in real estate, recognizing their role in driving innovation and industry growth. He also highlighted the impact of urban migration, stressing the need for sustainable planning to meet rising housing and infrastructure demands in cities.
The inaugural panel discussion of the event, titled “Financing the Future: Exploring Innovative Avenues for Growth,” brought together distinguished experts whose insightful contributions illuminated the evolving landscape of financial innovation and its crucial role in driving sustainable growth. The discussion revolved around how Institutions and large-scale investors have accelerated real estate consolidation over the past 14 years. Once a speculative and reckless market, it has evolved into a structured, investable asset class. A clear distinction between institutional and smaller-scale investments marks a fundamental shift in real estate.
The second Panel Discussion, titled “Real Estate 2030: Shaping the Future of Urban Landscapes,” proved to be an insightful and pivotal conversation, bringing together the titans of the industry. Esteemed thought leaders and visionaries delved into the dynamic forces shaping the future of urban development, engaging in a rich dialogue that illuminated the path forward for cities in the coming decade.
NAREDCO NEXTGEN elects new committee
The newly elected committee members of NAREDCO NEXTGEN were announced during the event. Rishabh Siroya, Vice President; Vishal Thakkar, Vice President; Pratik Kataria, Vice President; Aditya Boddu, Vice President–Elect; Prathap Reddy Eamani, Vice President–Elect and Chintan Vasani, Joint Treasurer, NAREDCO NEXTGEN will assume responsibility of their respective roles.
