Government to Fast-Track Bus Depot Developments
NAREDCO NextGen ‘Digital Learning Hub’ Launched for Young Real Estate Professionals
Mumbai:
In a significant push for urban and rural development, Pratap Sarnaik, Hon. Minister of Transport, Government of Maharashtra, announced the fast-track development of Maharashtra State Road Transport Corporation (MSRTC) bus depots across districts, talukas, and rural areas. Speaking at the NAREDCO NextGen Conclave 2025 in Mumbai, Sarnaik revealed that around 150 to 160 tenders will be floated soon for the development of these strategic land parcels.
Highlighting MSRTC’s vast land bank of approximately 3,360 acres, Sarnaik emphasized that the government aims to optimize its use for commercial and residential projects. “MSRTC will be made a planning authority, and it will sanction the plans under one roof. For the same, MSRTC’s technical team capacities will be built,” he stated.
The government has appointed renowned architect Hafeez Contractor to present a comprehensive development plan for MSRTC bus depots. The minister urged developers to explore real estate opportunities beyond urban centres, particularly in regions like Lonavala-Khandala and Mahabaleshwar, where new Development Control and Promotion Regulations (DCPR) will provide increased Floor Space Index (FSI) for upcoming projects. Additionally, the government is working on extending land lease periods from 60 years to 99 years, enhancing investment viability.
NAREDCO NextGen ‘Digital Learning Hub’ Launched
At the conclave, Pratap Sarnaik also launched the NAREDCO NextGen ‘Digital Learning Hub’, a pioneering online learning platform for young real estate professionals. Designed to provide insights into emerging trends, advanced technologies, and evolving policies, the platform will collaborate with top institutions across India to offer certification programs, empowering the next generation of real estate leaders.
Dr. Niranjan Hiranandani, Chairman, NAREDCO, emphasized RERA’s role in boosting transparency and trust in the real estate industry. “Young professionals, especially those under 30, bring fresh ideas and digital expertise that can revolutionize the sector,” he noted.
Mr. Rajan Bandelkar, Vice Chairman, NAREDCO, applauded the government’s reforms and tax rationalisation efforts while stressing the need for real estate’s holistic alignment with sustainability goals, AI integration, and Swachh Bharat initiatives.
Mr. Hari Babu, President, NAREDCO, underscored the importance of increased women’s participation in real estate, as well as the need for sustainable urban planning to address migration-driven housing demands. He highlighted that the new tax regime is expected to drive fresh investments into affordable housing.
Jay Morzaria, National Chairman, NAREDCO NextGen Said, “NAREDCO NextGen Conclave 2025 is a gathering of esteemed dignitaries is a vital platform for deliberating on ideas, fostering collaboration, and driving progress. Together, we will tackle key challenges and trends in our industry, from policy and finance to technology and the evolving needs of buyers.”
New faces in NAREDCO Next Gen
Pratik Kataria, Director of Sainath Developers, appointed as vice president of NAREDCO Next Gen. Chintan Vasani founder partner of Wisebiz developers appointed as Joint Treasurer of NAREDCO, Next Gen.
