Minister Sarnaik invites builders to look beyond urban areas
MUMBAI, Feb 1 (The CONNECT) – The Maharashtra Road Transport Corporation (MSRTC) bus depots will be taken on a fast-track mode and developed across district, Taluka and rural areas level.
Announcing this State Transport Minister Pratap Sarnaik announced that the
Government would float about 150 to 160 tenders soon. MSRTC will be made a Planning Authority for the project.
Speaking at the NAREDCO NextGen Conclave 2025 here, the Minister highlighted that MSRTC holds a vast land bank of approximately 3,360 acres. The Government has appointed well-known architect Hafeez Contractor to come up with a presentation to develop the plan.
Appealing the developers to look for real estate development opportunities beyond the urban areas or select cities, the Minister stated that the developers should take interest in developing real estate even in the rural areas for developing the State.
He informed that 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.
Sarnaik 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.
In his welcome address Jay Morzaria, National Chairman, NAREDCO NextGen said the deliberations at the conclave will focus on key challenges and trends, from policy and finance to technology and evolving buyer needs.
Dr. Niranjan Hiranandani, Chairman of NAREDCO, 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.
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.
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.
