Government to Fast-Track MSRDC Bus Depots Developments across District, Taluka & Rural Levels: Mr. Pratap Sarnaik, Minister of Transport, Government of Maharashtra
NAREDCO NextGen ‘Digital Learning Hub’ launched by Shri Pratap Sarnaik, Transport Minister, Govt of Maharashtra
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, inviting developers to participate in transforming 3,360 acres of MSRTC’s land bank. Transport Minister Shri Pratap Sarnaik made this announcement at the NAREDCO NextGen Conclave 2025, organized by NAREDCO NextGen in Mumbai.
Fast-Tracking MSRTC Land Development
Shri Sarnaik highlighted that the government is set to float approximately 150 to 160 tenders soon to accelerate the development of MSRTC land. To ensure structured planning, renowned architect Hafeez Contractor has been appointed to present a development strategy. The Minister urged developers to explore opportunities beyond urban centers, emphasizing the potential of locations such as Lonavala, Khandala, and Mahabaleshwar, where new Development Control and Promotion Regulations (DCPR) will enable greater Floor Space Index (FSI) for projects.
Additionally, the government is working on extending land lease periods from 60 years to 90 years, making investment in these projects more viable for developers. To streamline the process, the Maharashtra State Road Development Corporation (MSRDC) will be made a Planning Authority, ensuring single-window clearance for development approvals.
Launch of NAREDCO NextGen ‘Digital Learning Hub’
At the conclave, Shri Sarnaik also launched the NAREDCO NextGen ‘Digital Learning Hub’, an innovative online education platform designed for young real estate professionals. The platform will provide insights into emerging trends, new technologies, and policy updates, in collaboration with leading institutions across the country.
Key Discussions at NAREDCO NextGen Conclave 2025
The NAREDCO NextGen Conclave 2025, hosted at the JIO Convention Centre in Mumbai, served as a transformative platform for young leaders in real estate. The event covered crucial topics such as AI’s role in real estate, industry growth, and the impact of Budget 2025.
In his welcome address, Mr. Jay Morzaria, National Chairman of NAREDCO NextGen, emphasized the importance of collaboration and innovation in shaping the future of the real estate sector.
Industry Leaders’ Insights
- Dr. Niranjan Hiranandani, Chairman, NAREDCO, spoke on the positive impact of RERA regulations, highlighting how they have improved transparency and trust in the sector. He encouraged young professionals to leverage digital transformation to drive market expansion.
- Mr. Rajan Bandelkar, Vice Chairman, NAREDCO, praised the government’s tax reforms, while also urging the industry to focus on sustainability, AI adoption, and affordable housing.
- Mr. Hari Babu, President, NAREDCO, discussed how the new tax regime will boost real estate investments, particularly in affordable housing. He also emphasized the need for greater participation of women in the sector.
Panel Discussions and Future Outlook
The event featured two impactful panel discussions:
- “Financing the Future: Exploring Innovative Avenues for Growth” – Experts highlighted the growing trend of institutional investment in real estate and the shift towards structured asset classes.
- “Real Estate 2030: Shaping the Future of Urban Landscapes” – Industry leaders explored sustainable urban development, technological advancements, and evolving buyer preferences in the coming decade.