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Pune, 24th February 2025 – Pune has reaffirmed its position as India’s leading real estate market, recording the highest housing sales across the country for the fourth consecutive year. The *Pune Housing Report – February 2025, jointly released by CREDAI Pune Metro and CRE Matrix, highlights Pune’s dominance, affordability, and rapid growth in the real estate sector. According to the report, Pune recorded 90,000 housing units sold in 2024, reflecting a 56% surge in sales since 2020. The total sales value soared to *₹65,000 crores in 2024, marking a 9.28% increase from ₹59,480 crores in 2023. The official unveiling of the report took place at the Ramkumar Rathi Hall, CREDAI Pune Metro office, Camp, attended by key industry leaders, including **CREDAI Pune Metro President Ranjit Naiknavare, CRE Matrix CEO Abhishek Gupta, Public Relations Convenor Kapil Gandhi, Management Committee Members Abhishek Bhatewara and Punit Oswal, Data Analyst Rahul Ajmera, and Hiren Parmar. Over 100 representatives from the real estate sector participated in the event. Key Insights from the Report India’s Top Real Estate Market – Pune led the country with nearly 90,000 housing units sold in CY2024, generating a total sales value of *₹65,000 crores, reflecting an extraordinary 116% growth since 2019. Affordability Fuels Growth – Pune remains the most affordable metro city in India, with an average home price of ₹73 lakh, significantly lower than Bengaluru (₹1.35 crore) and Hyderabad (₹1.75 crore). Investment Preference – 51% of individuals in Pune prefer real estate over other assets such as equities, gold, or fixed deposits, making it the most sought-after investment avenue. Market Expansion – Pune’s residential market has seen a *22% CAGR* in the total value of unit sales over the past five years. Changing Buyer Preferences – The share of homes priced below ₹70 lakh dropped to *60% in 2024, down from **85% in 2020, indicating **a rising demand for premium housing*. Luxury Housing Surge – Sales of homes priced above *₹1 crore have increased 5X in five years*, signaling Pune’s transformation into a more affluent real estate market. Affordable Housing Shift – Affordable homes priced below *₹45 lakh now account for 30% of total sales, compared to 55% in 2020, suggesting **a reduced supply in this segment. Regional Sales Hotspots – Over 75% of housing sales were concentrated in Pune North West (Hinjawadi – Mahalunge), Pune North East (Kharadi – Wagholi), and Pune North (Pimpri-Chinchwad). Southwest Pune Growth – The Kothrud-Bavdhan region witnessed a 55% rise in the average value of units sold between CY2020 and CY2024. Property Value Appreciation – Pune’s average home value has risen by 44% in the last five years, driven by larger unit sizes and higher input costs. Industry Leaders Weigh In Mr. Ranjit Naiknavare, President, CREDAI Pune Metro, stated: “Over the past five years, we have seen a remarkable 56% rise in sales volumes, positioning Pune as India’s highest-selling real estate market. The total sales value has doubled, contributing significantly to government revenues. The most striking trend is the **5X increase in sales of homes priced above ₹1 crore, reflecting Pune’s evolution into a premium housing market.” Mr. Abhishek Kiran Gupta, CEO, CRE Matrix, emphasized: “Pune’s housing market is undergoing a transformation, with homebuyers opting for larger, more spacious properties. Our report highlights that **units priced between ₹1 crore and ₹2 crore have witnessed the highest growth in value, showing strong buyer confidence and an evolving premium housing segment.” Market Challenges & Future Outlook During the event, Mr. Rahul Ajmera presented insights on ‘Real Estate Trends & Analysis’, noting that new project launches in Pune have declined by 25% due to delays in approvals, land acquisition issues, and regulatory constraints. This has limited homebuyer options and intensified competition among developers. Despite these challenges, Pune’s real estate market is poised for sustained expansion with rising industrial growth, infrastructure development, and increasing migration trends. The demand for premium housing is expected to strengthen Pune’s reputation as India’s most dynamic real estate destination. About CREDAI Pune Metro Established in 1982, CREDAI Pune Metro represents over 2,000 member developers, working to support and shape the real estate sector through policy advocacy, training, and industry workshops. The association remains at the forefront of providing market insights and regulatory updates to its members. Media Contact: Devendra Nazare | +91 9764770840 | devendra@milestones.in

Navi Mumbai, 27th Feb, 2025 – Blackstone Group, the world’s largest alternative asset manager, in partnership with leading real estate developer Panchshil Realty, is set to develop India’s largest hyperscale data center in Navi Mumbai. The project, with an estimated capacity of 500 MW and an investment exceeding Rs 20,000 crore, marks a significant milestone in India’s digital infrastructure landscape. This state-of-the-art hyperscale data center will be powered by up to 65% green and renewable energy, making it the first of its kind in the country to prioritize sustainability at this scale. Spanning over 3 million sq. ft. across 14 buildings, the development will cater to the growing demand for high-performance computing, cloud services, artificial intelligence, and data-intensive applications. The investment is Blackstone’s first Foreign Direct Investment (FDI) following its recent agreements with the Government of Maharashtra at the World Economic Forum in Davos. As part of this expansion, Panchshil Realty’s subsidiary, Gramercy Info Park, has acquired a nearly 50-acre land parcel adjacent to Reliance Corporate Park in Ghansoli, Navi Mumbai, for Rs 900 crore. The proposed facility will be built-to-suit for leading hyperscaler companies and is set to become a key hub for digital transformation in India. Blackstone is already developing two data centers in Navi Mumbai under its Lumina CloudInfra brand, each with an investment of over $300 million, adding up to 60 MW of capacity. The new hyperscale data center will further strengthen Blackstone’s presence in India’s data center ecosystem. Blackstone has been a leading investor in India with over $50 billion in assets under management since its entry into the country, with Maharashtra accounting for nearly 40% of these investments. The firm has invested over $20 billion in Indian real estate across major cities, making it the largest office owner in the country with a portfolio of 135 million sq. ft. This landmark project underscores Blackstone’s commitment to advancing India’s digital infrastructure and supporting the nation’s rapid technological growth.

Mumbai, 24 February 2025: Grand Kausa City in Mumbra has witnessed a staggering response, selling over 1,050 apartments within just 18 days since its launch on January 29, 2025. The project, marketed by The Guardians Real Estate Advisory and developed by Yes Central, has recorded a remarkable sales turnover of ₹430 crore, reaffirming Mumbra’s potential as a high-growth real estate destination. The overwhelming demand has been driven by post-budget economic optimism, attractive home loan policies, and rapid infrastructure developments, making real estate a preferred investment choice. A new benchmark has been set in real estate sales by The Guardians Real Estate Advisory. Grand Kausa City, spans 6,48,323 sq. ft. and has captivated homebuyers with its strategic location, competitive pricing, and exclusive 1% payment plan. The project’s pre-launch efforts saw over 1,500 applications, reflecting strong buyer confidence and the increasing appeal of well-planned developments in emerging micro-markets. A key factor in this success has been The Guardians’ aggressive 360-degree marketing campaign, designed to maximise visibility and engagement. To enhance its market positioning, the project was packaged as Grand Kausa City, and a 25,000-square-foot Dubai-themed experience centre was built to offer potential buyers an immersive preview. Through a wide media mix, including advertisements at 15+ railway stations, 40+ billboards, 80+ bus shelters, branding in 20+ restaurants, over 1,000 branded auto-rickshaws, and distribution of more than 10 lakh leaflets, high visibility was ensured. The project was further enhanced by the appointment of Indian cricket legend Irfan Pathan as its brand ambassador, lending credibility and aspirational value. Beyond traditional marketing, The Guardians leveraged community engagement and digital influence to drive excitement around the project. Mushaira (Urdu poetry recitals) attracted over 20,000 attendees, while sponsorships of local cricket tournaments and a specially composed project rap song further strengthened the project’s cultural connection. On the digital front, collaborations with 30+ influencers generated over 4.3 million views, while the campaign recorded a 1.4 lakh Instagram reach in just 15 days and 10,000+ digital leads from India and the UAE. Located on 24 acres, Grand Kausa City features iconic 33-storey residential towers with luxury 1 and 2-bedroom balcony homes that offer stunning hill and river views. With over 50 lifestyle amenities, the project features a beautifully landscaped podium garden, a 3-level clubhouse with premium facilities, a school, four peaceful prayer halls, a sprawling 4-acre cricket pitch, and a modern shopping centre. A strategic location close to Mumbra Station and an exclusive TMC bus depot make this project even more appealing. Commenting on this record-breaking achievement, Ram Naik, Co-founder & CEO, The Guardians Real Estate Advisory, said, “The phenomenal response to Grand Kausa City showcases our expertise in real estate sales and marketing. Our strategic approach, backed by beneficial economic reforms, has not only unlocked immense value for homebuyers but has also set new industry benchmarks.” Jayesh Rathod, Co-founder & Director, The Guardians Real Estate Advisory, added, “Our marketing innovations and data-driven approach have played a crucial role in this success. Grand Kausa City has emerged as a landmark development, proving the potential of emerging micro-markets and the evolving preferences of homebuyers.” Having completed 50+ projects, delivered 2.5 million sq.ft., and constructed 7 million sq.ft., Yes Central continues to shape the real estate landscape, offering innovative and customer-centric developments. As a result of favourable economic reforms and innovative marketing strategies, Grand Kausa City has attracted an outstanding response from homebuyers. The Guardians Real Estate Advisory has once again succeeded in confirming its position as a market leader in India’s real estate market.

Mumbai, 20th February 2025: Shah Rukh Khan has secured a lease on two luxurious duplex apartments in Mumbai’s elite Pali Hills, Khar West. As per property records on Zapkey.com, the “Jawan” star has signed a three-year rental agreement amounting to Rs 8.67 crore in total, with an annual rent of Rs 2.9 crore. The combined monthly rent for both properties stands at Rs 24.15 lakh. The lease agreements, registered on February 14, required a stamp duty payment of Rs 2.22 lakh and a registration fee of Rs 2,000. These upscale residences are situated in the Puja Casa building, covering the first, second, seventh, and eighth floors. The apartments belong to the Bhagnani family of Bollywood. One of the units, owned by actor-producer Jackky Bhagnani and his sister Deepshikha Deshmukh, has been leased by Shah Rukh Khan at Rs 11.54 lakh per month, with a security deposit of Rs 32.97 lakh for a three-year duration. The second unit, owned by Vashu Bhagnani, has been rented for Rs 12.61 lakh per month, requiring a security deposit of Rs 36 lakh, for the same lease period. Renting premium properties is a common practice in Bollywood. In December 2024, Shraddha Kapoor reportedly rented a high-end apartment in Juhu for Rs 6 lakh per month. This development follows Gauri Khan’s recent application to the Maharashtra Coastal Zone Management Authority (MCZMA) for approval to expand their landmark home, Mannat. The proposed expansion seeks to add two floors to the six-storey annexe behind the bungalow, increasing the total built-up area by 616.02 square meters. On the professional front, Shah Rukh Khan delivered two massive hits in 2023: Jawan and Pathaan. He is now preparing for his next major film, King, directed by Siddharth Anand. The film is speculated to feature Abhishek Bachchan and Suhana Khan.

Mumbai Pune, 20th Feb 2025: Niranjan Hiranandani Group announces its much-awaited foray into Pune real estate market by inking its first ever joint development deal of 105 acres with renowned Krisala developers. The project is located at North Hinjewadi, and will be developed under Integrated township policy, comprising of residential, commercial and retail development. The joint development currently launches Phase I development spanned across 30 acres of land with minimum potential of delivering 3 million square feet of real estate spaces. As part of a joint development deal, the investment in phase 1 development is estimated at approximately Rs 500 crore, with a projected turnover pegged at approximately Rs 2100 crore. The proposed development comprises of apartments, villa plots, branded residences, and recreational amenities to enhance homebuyers holistic living experience. This strategic joint development aims to leverage the strong local expertise of Krisala Developers and the extensive brand experience of the Hiranandani Group. Both organizations are committed to a seamless integration of vision and expertise, covering every aspect from land development and approvals to execution. According to Dr Niranjan Hiranandani, Chairman, Hiranandani Group, “Mega infrastructure projects are establishing crucial last-mile connectivity between Mumbai and Pune, invigorating the dynamic MMR and Pune real estate markets. This connectivity directly addresses the aspirational living demands of migrating talent. Pune’s real estate sector is experiencing robust growth, propelled by its booming IT hubs, outstanding connectivity, and an influx of skilled professionals. The seamless connection between these two major business cities has opened unprecedented opportunities for real estate development. He additionally stated, “The Indian real estate landscape is evolving rapidly, and it’s clear that innovation and strategic collaboration are essential to achieving exponential growth.” Sharing his excitement Mr Aakash Agarwal, Managing Director of Krisala Developers said, “Designed as a self-sustained ecosystem that emphasizes liveability, community well-being. and environmental consciousness, this township aims to offer a home for everyone. The development will cater to first-time homebuyers, second home seekers, investors, and NRIs, ensuring inclusivity and comfort for all demographics. This project differentiates itself through a steadfast commitment to sustainability and scientifically driven urban planning. Our collaborations with renowned energy and resource institutes aim to maintain an air quality index (AQI) of 40, ensuring a healthier living environment for residents.” With its strategic locale, thoughtfully designed spaces, and unparalleled amenities, the township is poised to set a new benchmark for integrated residential real estate developments in Pune, promising a future where sustainability and luxury coexist seamlessly. Corroborated partnerships like this joint venture between the Hiranandani Group and Krisala Developers enable both organizations to capitalize on the flourishing opportunities in today’s bullish real estate market. About Hiranandani Group Founded over 45 years ago, the Hiranandani Group is India’s largest real estate conglomerate, pioneering mixed-use integrated township developments. Since its inception in 1978, the group has set benchmarks across residential, commercial, retail, hospitality, and healthcare sectors, blending excellence, innovation, community well-being, and environmental sustainability. Under the visionary leadership of Dr Niranjan Hiranandani, the group has delivered nearly 48 million square feet of residential and commercial space. Further, to capitalize on the burgeoning real estate industry growth, the group has forayed into emerging asset classes such as Data Centres, Industrial parks, and Logistics parks marking its pan India footprint. About Krisala Developers: With quality, affordability, and tradition as its foundations, Krisala Developers is known for delivering quality homes and innovative construction solutions for over 13 years in Pune. The organization has completed over 2.3 million sq. ft. of construction through various residential and commercial projects, earning trust through transparency and consistency. Pioneering quality construction in the real estate industry, Krisala Developers aims to provide world-class property experiences. For Further media queries, reach out to Pratiksha Lade-8655899958-pratiksha.lade@geckoworldwide.in Ms Ritika – Hiranandani Group- shah.ritika@hiranandani.net Ms Sonali Krisala Developers –sonali.41@krisala.com

Bangalore, 18th February 2025: Embassy Services Private Limited (ESPL), the property management arm of Embassy Group, is pleased to announce the promotion of Saarang Ganapathi as its Chief Executive Officer (CEO). With over 11 years of expertise in Real Estate Management and 7 years at ESPL, Saarang has been instrumental in driving operational excellence, scaling efficiencies, and expanding ESPL’s footprint across 130 million square feet in 12 states. Previously as Chief Operating Officer, he has played a key role in strengthening ESPL’s presence across diverse real estate sectors, including business parks, airports, data centres, high commissions, retail, co-working spaces, hospitality, education, and residential developments. His leadership has been instrumental in shaping ESPL into one of India’s leading integrated property and facility management providers. Saarang has also spearheaded the expansion of ESPL’s service portfolio, adding Project Management Consultancy and Renewable Energy Advisory to its offerings. “I am honoured and privileged to step into the role of CEO at ESPL, a company I am deeply committed to and proud to have been a part of. As we embark on this next phase of growth, my focus remains on driving operational excellence, expanding strategic initiatives, and providing greater value to our clients. Building on our strong foundation and track record of innovation, I look forward to accelerating ESPL’s expansion into new markets across India, while reinforcing its position as an industry leader. With our talented team, I am excited about the opportunities ahead,” said Saarang Ganapathi, CEO, Embassy Services Private Limited. In his new role as CEO, Saarang will focus on strengthening ESPL’s capabilities in renewable energy, project management consultancy, and integrated property solutions. He will continue to oversee a workforce of over 20,000 professionals, ensuring the delivery of high-quality services while fostering innovation and sustainable growth.

Mumbai, 18th February 2025: Bollywood actress Amrita Singh has acquired a residential apartment in Juhu, Mumbai, for Rs. 18 crore, according to property registration documents reviewed by Square Yards on the website of the Inspector General of Registration (IGR) https://igrmaharashtra.gov.in. The transaction was registered in February 2025. Juhu, one of Mumbai’s most prestigious and sought-after residential areas, is home to several Bollywood celebrities. The locality is known for its scenic beach, upscale restaurants, and proximity to business hubs like Andheri and Bandra. It also boasts excellent connectivity with the Western Express Highway, international airport and the Mumbai Metro network. Bollywood stars like Varun Dhawan, Janhvi Kapoor, Kartik Aaryan and Shakti Kapoor, also own apartments in Juhu, as per Square Yards’ analysis of IGR property registration documents. The property acquired by Amrita Singh is located in Peninsula building in Nutan Laxmi Cooperative Housing Society Limited, which is a ready-to-move-in residential project. According to the IGR property registration documents reviewed by Square Yards, the apartment spans a built-up area of 252.04 sq. m. (~2,712.9 sq. ft.) and includes three car parking spaces. The deal incurred a stamp duty payment of Rs. 90 lakh and a registration charge of Rs. 30,000. Amrita Singh, a celebrated actress in Indian cinema, gained prominence in the 1980s with her debut in Betaab (1983), which became a massive success. Known for her versatile performances, she delivered critically acclaimed roles in films like Mard, Naam, Chameli Ki Shaadi, and Raju Ban Gaya Gentleman. After a hiatus, she made a powerful comeback with Kalyug and Shootout at Lokhandwala, proving her acting prowess once again. Her performance in Aaina earned her a Filmfare Award for Best Supporting Actress, and she later won accolades for her role in 2 States.

Mumbai, 17th February 2025: The Goa Rehabilitation Board and Goa Housing Board have called the Real Estate Developers’ Body NAREDCO Maharashtra to explore investment opportunities in the development of the residential, commercial, mixed–used, redevelopment and business parks segments of the State. The senior representatives of the Goa Rehabilitation Board and Goa Housing Board presented the landscape of ‘Unlocking Real Estate Opportunities in Goa’ to the developer members of NAREDCO Maharashtra, which organized its Annual Members Meet 2025 at Panjim in Goa to observe a successful milestone of completion of ten years of the trade body’s Maharashtra Chapter. “Goa is not just a tourism destination now, but a fast-growing State for scaling businesses including the real estate offering an exponential potential to the developers who are looking for setting up of new residential and commercial projects along the coastline or in the States’ hinterland and also for the global investors who are willing to invest in second or leisure homes, luxury villas, rental homes or hospitality ventures”, said Aleixo Da Costa, Secretary, Goa Rehabilitation Board while talking about the ‘Opportunities in Goa’. Announcing the mega plans to release the unused land parcels for real estate development in the State, Da Costa said, “The public sector is looking at redevelopment of its used land parcels combined with monetization of its unused land parcels through the public–private partnerships.” He mentioned that the places like Vasco, Sada Vasco, Baina, Zuari Nagar, Colvale have major unused land parcels making the scope for huge investments. “We are planning to take all these land parcels together, release the unused land in Sada Vasco for rehabilitation purposes first and then monetize the rest of the land parcels in a PPP model where private developers can participate. The tenders will be issued very soon for monetization of the land,” Da Costa informed. The land parcels are mostly in Vasco City and within a radius of 1 to 2 kms from Airport, Seaport and Railway making these land parcels huge potential for investments. The land parcels mentioned are: Sada Vasco (24,580 sq mtrs, Used: 10,000 sq mtrs, Unused: 14,000 sq mtrs), Baina (4600 sq mtrs), Adarsh Nagar Chicalim (Vacant Land: 23,533 sq mtrs), Colvale (1000 sq mtrs) and Zuari Nagar (1800 sq mtrs). Sadashiv Gaonkar, Housing Engineer, Goa Housing Board, while talking about ‘Unlocking Real Estate Opportunities in Goa’ invited the leading developers and investors to participate in the strategic development of prime land parcels in the state. He said, “Goa’s real estate is experiencing an unprecedented growth driven by increasing demand by professionals, remote workers and institutional investors and the State is ready for investment, as there is a need to meet the rising demand for diverse accommodation options, residential development and mixed–use projects.” According to the presentation by Gaonkar from Goa Housing Board, Goa’s real estate market offers excellent returns, especially in North Goa. Property prices in Goa are climbing at 15% to 30% each year, making it a high growing market. On an average, the properties in North Goa have appreciated by ~83% over the last 5 years, with Candolim (168.5%), Siolim (149.2%) and Calangute (83%) experiencing significant price appreciation. Investors are eyeing Goa’s income generating properties, including commercial spaces and villas. Goa’s booming tourism guarantees strong rental incomes, with a return-on-investment (ROI) ranging from 4% to 10% each year. North Goa areas bring-in annual rental payouts of 8-9%, while South Goa offers 6-8% returns. ~35% of holiday home buyers prefer Goa as a second home destination, highlighting its appeal among India’s population. Real estate inquiries in Goa increased by 90% in the last five years, showing strong market demand. Rising Airbnb demand in Goa is driving residential property investments and higher prices. North Goa has ~14000 rental properties listed on Airbnb, with peak season occupancy rates reaching 80-90%, highlighting the strong demand for short-term rentals. Goa is undergoing significant infrastructure expansion, making it a highly attractive real estate destination. The Goa International Airport, Dabolim handled ~35 lakh passengers while the new Manohar International Airport handled ~24 lakh passengers in the year 2024. The Mumbai-Goa Expressway and the Zuari and Mandovi bridge will significantly reduce travel time and open remote areas for development, providing a major advantage for the region. Calling the Annual Members Meet 2025 of NAREDCO Maharashtra in Goa to be an opportunity to understand the State’s real estate landscape better and the Chief Minister’s approach towards the national real estate industry collaborative, Prashant Sharma – President, NAREDCO Maharashtra said, “NAREDCO Maharashtra is privileged to explore opportunities for real estate development in Goa to unleash the State’s potential. Goa is not just an international tourism destination now, but it is transforming into a real estate development hub attracting global investors moving its property markets northwards. Goa’s initiative to invite the developers to tap the real estate opportunities in the State is a welcome step.” Rajan Bandelkar, Vice Chairman, NAREDCO said, “With the Central Government’s impetus on infrastructure growth, even smaller states are transforming significantly with better connectivity and accessibility. Goa is the perfect example of how a state can bolster other businesses including real estate by keeping tourism at the centre. NAREDCO Maharashtra will cement its collaboration with Goa to take the State’s real estate sector on a fast-track mode.” Niranjan Hiranandani, Chairman Emeritus, NAREDCO Maharashtra said, “Completing a decade-long journey in Maharashtra, it is now time for NAREDCO Maharashtra to support other cities, regions and the States in growing the real estate sector. Being a neighbor, Maharashtra can always join hands with Goa in exploring common opportunities for the real estate industry’s growth banking on its sound infrastructure, international connectivity and new development regions opened for the investors. Goa is soon set to top the charts of the best preferred market for second and leisure homes, luxury villas, vacation homes and hospitality businesses for the global investors.” Hari Babu, President, NAREDCO said, “Goa has been witnessing real estate investments by affluent Indian and overseas buyers in recent times owing to their inclination for acquiring income-generating commercial assets or second homes alongside their primary city homes.” When India’s mainstay property markets are expanding

Mumbai, 12th February 2025: Pratap Sarnaik, Minister of Transport, Government of Maharashtra announced that the State’s MSRTC’s bus depots will be taken on a fast-track mode and developed across District, Taluka and Rural areas level and for the entire development, the Government would float about 150 to 160 tenders soon. He was speaking at the NAREDCO NextGen Conclave 2025 organized by NAREDCO NextGen in Mumbai. Sarnaik delivered a keynote address, highlighting that MSRTC holds a vast land bank of approximately 3360 acres. He further informed that in order to develop the MSRDC Bus Depots, the Government has appointed a well-known architect Mr Hafeez Contractor to come up with a presentation to develop the plan. He emphasized the need to develop these strategically located landbanks and urged the State’s developers to come forward to develop the commercial or residential premises. Stating that MSRTC will be made a Planning Authority to execute the project, Sarnaik said, “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.” 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’ at the prestigious NAREDCO NextGen Conclave 2025, held at the JIO Convention Centre in Mumbai. This innovative online learning platform is designed for young real estate professionals, offering comprehensive insights into emerging trends, cutting-edge technologies, and the latest policy updates. The platform aims to collaborate with top institutions across the country to offer certification programs, empowering the next generation of real estate leaders with the knowledge and skills needed to thrive in an ever-evolving industry. NAREDCO NextGen Conclave 2025, a transformative event was designed to empower the next generation of real estate leaders. It provided a dynamic platform for young visionaries, industry disruptors, and emerging decision-makers to engage in thought-provoking discussions, foster innovation, and collaborate on strategies for a sustainable and inclusive future. The event discussed various Real Estate trends, growth avenues, AI revolution and the impact of Budget 2025 on the real estate industry. In his welcome address Jay Morzaria, National Chairman, NAREDCO NextGen welcomed the August gathering of dignitaries to the NAREDCO NextGen Conclave 2025. This conclave is a platform for deliberating on ideas, collaboration, and progress. The discussions will tackle key challenges and trends, from policy and finance to technology and evolving buyer needs. Dr. Niranjan Hiranandani, Chairman of NAREDCO, highlighted the positive impact of RERA in dispelling misconceptions about the real estate industry. He emphasized how the regulatory framework has brought greater transparency, accountability, and trust among stakeholders. Furthermore, he spoke about the role of innovation in shaping the future of the industry, particularly through the younger generation. He 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. He encouraged industry leaders to learn from the younger generation, leveraging their insights and technological expertise to drive progress and enhance market outreach. 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. He also cautioned the industry to take a note of issues such as global warming, SWACHH Bharat and a holistic use of AI for technology adoption. Mr Bandelkar also anticipated the sector’s continued focus on affordable housing as a demand driver. 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. He further emphasized the need for greater women’s participation in real estate, recognizing their role in driving innovation and industry growth. He also highlighted the impact of urban migration, stressing the need for sustainable planning to meet rising housing and infrastructure demands in cities. The newly elected committee members of NAREDCO NEXTGEN were announced during the event, bringing a strong leadership team to the organization. Rishabh Siroya, Vice President, NAREDCO NEXTGEN; Vishal Thakkar, Vice President, NAREDCO NEXTGEN; Pratik Kataria, Vice President, NAREDCO NEXTGEN; Aditya Boddu, Vice President–Elect, NAREDCO NEXTGEN; Prathap Reddy Eamani, Vice President–Elect, NAREDCO NEXTGEN and Chintan Vasani, Joint Treasurer, NAREDCO NEXTGEN will assume responsibility of their respective roles. The inaugural panel discussion of the event, titled “Financing the Future: Exploring Innovative Avenues for Growth,” brought together distinguished experts whose insightful contributions illuminated the evolving landscape of financial innovation and its crucial role in driving sustainable growth. The discussion revolved around how Institutions and large-scale investors have accelerated real estate consolidation over the past 14 years. Once a speculative and reckless market, it has evolved into a structured, investable asset class. A clear distinction between institutional and smaller-scale investments marks a fundamental shift in real estate. The second Panel Discussion, titled “Real Estate 2030: Shaping the Future of Urban Landscapes,” proved to be an insightful and pivotal conversation, bringing together the titans of the industry. Esteemed thought leaders and visionaries delved into the dynamic forces shaping the future of urban development, engaging in a rich dialogue that illuminated the path forward for cities in the coming decade. The event concluded with the announcement of NAREDCO Maharashtra Annual Members Meet 2025 on 15th and 16th February 2025 at Taj Cidade De – Goa, where over 200 members will be attending the meet.

Pune has been one of the fastest-growing urban centers, emerging as a hub of education, technology, and industry, and playing a key role in India’s transformation into a dynamic, innovation-driven economy. In this context of nation-building and city-making, VK Group (https://vk-group.org/), a leading built environment consultancy, has played a pivotal role in shaping Pune’s urban landscape through thoughtful design and sustainable construction practices. To celebrate this journey and spark meaningful conversations on the future of urban development, VK Group is hosting VKollective (https://vk-group.org/vkollective-a-vk-group-exhibition/), a three-day exhibition from 21st to 23rd February 2025 at Pandit Jawaharlal Nehru Sanskrutik Bhavan, Ghole road, Pune, open from 11 AM to 8 PM. Under the theme “Building the City We Call Home: Making Pune Better by Design,” the exhibition will explore the work of VK Group, whose pioneering projects have significantly shaped the city’s landscape through architecture, urban design, and policy over the last five decades. VKollective also aims to facilitate conversations, encourage the exchange of ideas and provide an opportunity to discover how thoughtful design creates meaning and drives change through panel discussions and workshops. Key Highlights of VKollective Inauguration Engaging panel discussions featuring experts on built environment topics Exclusive Architectural Illustration Workshop by Ar. Shweta Santosh Hingane of The Archart (https://www.instagram.com/the.archart/) (199K followers on Instagram), a free session for students and professionals on 22nd February, Saturday at 2:30 PM (Register here: https://docs.google.com/forms/d/e/1FAIpQLSeHrl4y0AYac6B6WVYMQN6PxqilZK9Sw2Z4jqyDYoRB7-pyNw/viewform). City Reel Competition Award Presentation – An open-to-all Instagram competition inviting participants to capture their experiences of Pune through a short video, live on VK Group’s handle. Submit your reel and get a chance to win upto Rs 10,000! (Details here: https://www.instagram.com/reel/DBtaJX2Isiy/?utm_source=ig_web_copy_link&igsh=MzRlODBiNWFlZA%3D%3D) Valedictory Session to conclude the three-day event. Whether you are a student, a young professional, or an industry leader in the AEC field this exhibition offers an opportunity to engage with Pune’s evolving design narrative and explore the future of urban development. Come join conversations, share ideas, and discover how design can create meaning and change. (Register here: https://vk-group.org/vkollective-a-vk-group-exhibition/)