The Maharashtra government has invited real estate developers to participate in projects on 3,360 acres of land owned by the Maharashtra State Road Transport Corporation (MSRTC). These land parcels will be developed under public-private partnership (PPP) models on a build-operate-transfer basis.

The state will soon issue nearly 150 tenders for these projects, Transport Minister Pratap Sarnaik announced at the NAREDCO NextGen Conclave 2025 in Mumbai on Wednesday.

Maharashtra Transport Minister Pratap Sarnaik has urged the National Real Estate Development Council (NAREDCO) to take the initiative in developing the "land bank" owned by the State Transport (ST) Corporation across Maharashtra. He emphasised that NAREDCO's expertise in real estate development could significantly benefit ST, an organization that plays a crucial role in public transportation.

Niranjan Hiranandani, chairman of NAREDCO, the apex body for real estate developers, has said that the RBI interest rate cut would significantly benefit affordable housing and hopes that a 100 basis point reduction in the repo rate going forward will further boost the segment.

Hiranandani made these remarks during a panel discussion hosted by NAREDCO Next Gen on February 11.

Maharashtra Transport Minister Pratap Sarnaik announced that the Maharashtra State Road Transport Corporation (MSRTC) possesses a land bank of 3,360 acres across the state, which the government plans to develop into modern depots under a Public-Private Partnership (PPP) model.

After a prolonged period of sales decline and low levels of supply, sales in the affordable housing segment may see a new lease of life after the Reserve Bank of India (RBI) cut its key repo rate by 25 basis points to 6.25 percent, paving the way for lower interest rates on home loans. The downside, however, remains in the form of a continued increase in home prices across all markets, with inflation continuing to be on the higher end, observers noted.

Real estate developers hailed the RBI's decision to cut the benchmark lending rate by 25 basis points, saying this will benefit existing home loan borrowers and also encourage the fence sitters to invest in residential properties.

NAREDCO national president G. Hari Babu said the rate cut will have a positive impact on the real estate sector, making home loans more affordable and increasing demand for housing.

The highly anticipated NAREDCO NextGen Conclave 2025 is set to bring together the brightest minds in real estate to analyze the Union Budget 2025 and explore the industry’s future trajectory. As a premier gathering for next-generation leaders, the conclave will unveil key investment trends, innovative strategies, and policy insights that will define India’s real estate landscape for the next decade.

The Reserve Bank of India's (RBI) six-member Monetary Policy Committee (MPC) on Friday cut the repo rate by 25 basis points to 6.25 per cent. This comes after last rate reduction in May 2020.

Real estate experts feel this rate cut will have a positive impact on the overall sector, making home loans more affordable and increasing demand for housing.

The 25 basis points repo rate cut to 6.25%, the first in nearly five years, announced by the Reserve Bank of India (RBI) on Friday morning, has the potential to alleviate the demand-supply gap in affordable housing at a time when the sector is experiencing unprecedented premiumisation.

India’s real estate industry hailed the Reserve Bank of India’s decision to reduce the key interest rate by 25 basis points on Friday, saying this rate cut will have a positive impact on the overall sector, making home loans more affordable and increasing demand for housing.