The Government of Maharashtra has invited developers to invest in the State’s vast MSRTC land bank. The land spans 3360 acres and is set to undergo rapid development, with the State Transport Minister Pratap Sarnaik highlighting the need for both residential and commercial projects.
Speaking at the NAREDCO NextGen Conclave 2025 in Mumbai, Sarnaik emphasised that the government will soon float 150 to 160 tenders to develop MSRTC bus depots across Districts, Talukas, and rural areas. The depots will be constructed on a fast-track basis.
Sarnaik revealed that renowned architect Hafeez Contractor has been appointed to present a development plan for the land. “MSRTC will be the planning authority for these projects, enabling seamless approvals under one roof,” said Sarnaik.
The Transport Minister also encouraged developers to focus on rural areas, such as Lonavala, Khandala, and Mahabaleshwar, for new real estate ventures. These regions are now subject to new DCPR rules that allow greater FSI. The lease period for these lands will also be extended from 60 years to 99 years.
In addition, Sarnaik launched the NAREDCO NextGen Digital Learning Hub, an online platform designed to empower young real estate professionals. The hub will offer certification programs and insights into the latest industry trends.
The NAREDCO NextGen Conclave 2025 aimed to foster innovation and collaboration among emerging real estate leaders. Notable speakers included NAREDCO Chairman Dr. Niranjan Hiranandani, Vice Chairman Rajan Bandelkar, and President Hari Babu, who addressed key issues such as affordable housing, the role of women in the industry, and urban migration.
The event also hosted insightful panel discussions, such as “Financing the Future: Exploring Innovative Avenues for Growth” and “Real Estate 2030: Shaping the Future of Urban Landscapes.”
The NAREDCO Maharashtra Annual Members Meet 2025 will be held on 15th-16th February at Taj Cidade De Goa, with over 200 members attending.
