News Room

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/)

Pune, 7 February 2025: Kolte-Patil Developers Limited (BSE: 532924, NSE: KOLTEPATIL), a leading Pune-based real estate player, with growing presence in Mumbai and Bengaluru, announced that the Company has signed a joint development deal for a residential /mixed used project located at Wadgaon Khurd, on Sinhagad road, Pune. The project with the total potential saleable area of ~5 million square feet has an expected Gross Developable Value (GDV) of ~Rs. 4,000 crore. Spread over ~22 acres within Pune Municipal Corporation Limit, this land is strategically located in South-West part of Pune and boasts scenic surroundings and seamless connectivity to CBD Pune and West-Pune zone. It offers breathtaking views of the Mutha River to the north, a serene garden reservation to the south ensuring an unobstructed view, and a 90-meter proposed ring road alongside park reservations to the west. The project has well-established access to social infrastructure, with schools, hospitals, shopping malls and entertainment hubs conveniently located within a 2-kilometer radius. Commenting on the development, Mr. Yash Patil, Joint Managing Director, Kolte-Patil Developers Limited said, “Pune’s real estate landscape continues to evolve, presenting significant opportunities for well-planned, high-quality developments. As a market leader, Kolte-Patil remains committed to expanding its footprint across key micro- markets through a well-calibrated diversification strategy. By leveraging our deep local expertise and strong brand equity, we are strengthening our presence in high-potential areas while shaping Pune’s urban future with thoughtfully designed, community-centric developments that cater to the city’s growing aspirations. Moreover, this project reflects our continued focus on value creation through strategic partnerships and capital-efficient structures, ensuring sustainable growth for all stakeholders.” Commenting on the development, Mr. Atul Bohra, Group CEO, Kolte-Patil Developers Limited said, “We are excited to add this large-scale development of ~5 million square feet, strategically located in South-West Pune, reinforcing our leadership in the city’s dynamic real estate market. This project is a significant milestone for Kolte- Patil, further strengthening our presence in a high-potential micro-market. With strong connectivity and proximity to essential social infrastructure, this development exemplifies our vision of creating vibrant, community-centric neighborhoods while delivering high-quality living spaces. Our focus remains on delivering sustainable value to homebuyers and stakeholders.”

Mumbai, February 06, 2025: INNOVATION, INVESTMENT, AND POLICY INSIGHTS TO DRIVE INDUSTRY GROWTH 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. Scheduled to take place in Mumbai, the event will serve as a dynamic platform for emerging entrepreneurs, leading developers, policy influencers, and investors to engage in impactful discussions, networking, and knowledge-sharing sessions. The agenda will cover the implications of Budget 2025 on real estate, sustainable urban development, financing models, and the role of technology in smart cities. At a time when next-gen realtors are transforming the industry through technology-driven solutions, sustainable business models, and innovative investment approaches, the conclave will offer valuable insights into opportunities in Tier II & III cities, green real estate, smart infrastructure, and alternative financing methods such as REITs, InvITs, and PropTech-powered funding solutions. The conclave will also feature an in-depth brainstorming session, “Decoding Union Budget 2025”, where industry experts will examine policy reforms, taxation updates, and government incentives impacting the real estate sector. Given its crucial role in India’s economic framework, discussions will focus on how budgetary provisions influence housing demand, infrastructure growth, and investment trends in the years ahead. According to Jay Morzaria, Chairman, NAREDCO NextGen said, “India’s real estate sector is evolving rapidly, driven by policy reforms, technological innovation, and changing market dynamics. The NAREDCO NextGen Conclave 2025 will serve as a catalyst for the next generation of real estate leaders, equipping them with the knowledge, networks, and strategies to navigate this transformation. By fostering collaboration between young entrepreneurs, industry experts, and policymakers, we aim to drive sustainable growth and innovation in the sector” Ravi Reddy, President, NAREDCO NextGen said, “Today’s young real estate professionals are more tech-savvy, investment-driven, and sustainability-focused than ever before. This conclave will equip them with the insights, industry networks, and strategic vision necessary to scale their businesses in an evolving market.” Dr. Niranjan Hiranandani, Chairman, NAREDCO Said, “The next generation of real estate leaders is driving a paradigm shift through technological integration, smart infrastructure, and sustainable urban planning. The NAREDCO NextGen Conclave 2025 will play a pivotal role in equipping young entrepreneurs with the tools, insights, and networks needed to embrace digital transformation, explore AI-driven solutions, and pioneer new-age investment models that will define the future of Indian real estate.” Highlighting the importance of fostering young leadership, G Hari Babu, President, NAREDCO National, emphasized, “The new generation of realtors is reshaping the industry by integrating innovation with responsible urban growth. The NAREDCO NextGen Conclave 2025 will be instrumental in helping them align with emerging trends, build influential networks, and future-proof their businesses.” Rajan Bandelkar, Vice Chairman, NAREDCO said, Technology adoption and innovation are no longer optional but essential for the next wave of real estate development in India. From PropTech to AI-powered analytics and blockchain-driven transactions, the industry is evolving at an unprecedented pace. The NAREDCO NextGen Conclave 2025 will empower young real estate professionals to leverage these advancements, create more efficient business models, and drive sustainable growth in the sector.” With rapid urbanization, shifting consumer preferences, and increasing digitization, the conclave is poised to be a landmark event, providing young entrepreneurs with the knowledge, tools, and partnerships needed to drive the next phase of growth in Indian real estate.

Mumbai, 7th February 2025: In terms of the impact on the housing sector of the RBI’s decision to reduce the repo rates by 25 bps, this piggybacks on the recent taxation benefits announced in the Union Budget. As such, it is undeniably a major boost to the homebuyers, particularly for affordable housing buyers. Many first-time homebuyers who had been hesitating to take the plunge are likely to make their move now as home loan rates will reduce – as long as banks pass on the key benefits to buyers. This dovetails well with recent trends in the housing market, which continues to see strong momentum. Reduced home loan rates can help the overall positive consumer sentiment. Given that housing prices have risen across the top 7 cities in the last one year, this breather is welcome and timely. As per ANAROCK Research, 2024 saw average housing prices rise by anywhere between 13-30% in the top 7 cities, with NCR recording the highest 30% jump. The average prices in top 7 cities collectively stood at approx. INR 7,080 per sq. ft. in 2023-end, while in 2024-end it increased to approx. INR 8,590 per sq. ft. – a collective increase of 21% annually. Commercial real estate, especially office spaces, can also benefit from lower borrowing costs for businesses, and lower rates also make REITs more appealing since investors look for stable returns in a falling interest rate environment. That said, the rate cut may be less effective by rising property prices if inflation remains as high as it is now. Also, it remains to be seen if banks pass on the full benefit to borrowers in a timely and seamless manner. Anuj Puri, Chairman – ANAROCK Group

Mumbai, 5th February 2025 Actress Karenjit Kaur Weber (Sunny Leone) has purchased an office space in Oshiwara, Mumbai, for Rs. 8 crore, according to property registration documents reviewed by Square Yards on the website of the Inspector General of Registration (IGR). The transaction was registered in February 2025. The property purchased by Karenjit Kaur Weber is located in Veer Signature, a commercial project by Veer Group, located in Oshiwara. The locality is known for its vibrant lifestyle and strategic location near the Lokhandwala Complex. Well-connected by major roads and the Mumbai Metro, Oshiwara offers a perfect blend of urban convenience and modern living. As per the IGR property registration documents reviewed by Square Yards, the office space purchased by Karenjit Kaur Weber has a carpet area of 176.98 sq. m. (~1,904.91 sq. ft.) and a built-up area of 194.67 sq. m. (~2,095 sq. ft.). It also includes three car parking spaces. The transaction incurred a stamp duty payment of Rs. 35.01 lakh and registration charges of Rs. 30,000. Karenjit Kaur Weber purchased the office space from Aishwarya Property and Estates, owned by Anand Kamalnayan Pandit and Roopa Anand Pandit, as per the IGR property registration documents. Anand Pandit is a renowned film producer, distributor, and real estate developer and has backed films such as Total Dhamaal, Chehre, and The Big Bull. Veer Signature, a commercial project by Veer Group, spans 0.53 acres and offers office spaces ranging from 59.21 sq. m. to 193.04 sq. m as per RERA. According to Square Yards Project Data Intelligence, a total of 12 transactions, amounting to a gross transaction value of Rs. 202 crore, were registered with IGR in Veer Signature between January 2024 and December 2024. Other bollywood stars such as Amitabh Bachchan, Ajay Devgn, Kartik Aaryan, and Sara Ali Khan also own properties in the same building, as per Square Yards’ analysis of IGR property registration documents. Karenjit Kaur Weber (Sunny Leone), an actress, entrepreneur, and model, has made a significant mark in Bollywood with films such as Jism 2, Ragini MMS 2, and Ek Paheli Leela. She launched her own cosmetic brand, StarStruck by Sunny Leone in 2018. She has received accolades such as the Most Stylish Female Performer at the MTV India Awards and recognition at the PETA India Awards for her advocacy in animal welfare.

Mumbai: Bollywood actress Sonakshi Sinha has sold her apartment in Bandra West, Mumbai, for Rs. 22.50 crore, according to property registration documents reviewed by Square Yards on the website of Inspector General of Registration (IGR). The transaction was registered in January 2025. Bandra’s proximity to Bandra Kurla Complex (BKC), Mumbai’s key commercial hub, makes it an attractive residential option for corporate executives and business owners seeking minimal commute times. Connectivity is a major advantage, with the Western Express Highway, Bandra-Worli Sea Link, international airport, and the upcoming metro enhancing accessibility. Bollywood stars such as Suniel Shetty, Ranveer Singh, and Deepika Padukone, along with sports personalities like KL Rahul and Athiya Shetty, have also acquired properties in this neighbourhood. The property sold by Sinha is located in 81 Aureate, a project by MJ Shah Group, spread across 4.48 acres and featuring 4 BHK apartments. As per the IGR property registration documents reviewed by Square Yards, the apartment has a carpet area of 391.2 sq. m. (~4,211 sq. ft.) and a built-up area of 430.32 sq. m. (~4,632 sq. ft.). It also includes three car parking spaces. The transaction incurred a stamp duty payment of Rs. 1.35 crore and registration charges of Rs. 30,000. According to Square Yards Project Data Intelligence, a total of 8 transactions amounting to a gross transaction value of Rs. 76 crore were registered with IGR in 81 Aureate between February 2024 and January 2025. Currently, the average resale property price for a 4BHK in the project stands at Rs. 51,636 per sq.ft. while the average monthly asking rent is Rs. 8.5 lakh. Square Yards’ analysis of IGR property registration documents reveals that the same apartment was bought by Sonakshi Sinha in March 2020 for Rs. 14.0 crore was recently sold for Rs. 22.50 crore, reflecting a 61% appreciation in value since the purchase. Notably, Sinha owns one more apartment in 81 Aureate, as per IGR property registration records. Sonakshi Sinha made her debut in 2010 with the blockbuster film Dabangg, opposite Salman Khan, which earned her widespread recognition. Over the years, she has showcased her versatility in films like Lootera, Akira, and Mission Mangal. In 2024, Sinha played the dual characters of courtesan mother and daughter in Sanjay Leela Bhansali’s period drama Heeramandi. Sinha has co-founded a beauty brand named ‘SOEZI’ which features a wide array of press-on nails.

The Union Budget 2025 paves the way for long-term growth in real estate, infrastructure, and wellness-focused development. With increased funding for urban infrastructure, affordable housing, and transit-oriented expansion, the budget supports a modern, future-ready real estate sector that aligns with evolving market demands. By prioritizing connectivity, green energy, and digital advancements in property transactions, it aims to streamline business operations and attract long-term investments. Beyond real estate and infrastructure, the budget places significant emphasis on healthcare and wellness, addressing the growing demand for holistic living environments. The push for sustainable urbanization, eco-friendly buildings, and wellness-driven spaces is set to transform residential and commercial landscapes, fostering a healthier and more balanced lifestyle. These initiatives not only boost investor confidence but also position India as a global leader in integrating wellness, sustainability, and infrastructure, driving long-term economic value. Umesh Pawar, Founder, Dream Works Realty

Pune, 02 Feb, 2025 The Union Budget 2025 has introduced key reforms and financial allocations aimed at strengthening the real estate sector. While industry leaders welcome several initiatives, they also highlight the need for further measures to boost housing demand and affordability. CREDAI Pune Metro President, Mr. Ranjit Naiknavare, on Budget 2025 Mr. Ranjit Naiknavare, President of CREDAI Pune Metro, lauded the continuation of the SWAMIH initiative, stating: “The SWAMIH Fund I has already enabled the completion of nearly 90,000 housing units by the end of 2025. With the launch of SWAMIH Fund II, an additional ₹15,000 crore has been allocated to facilitate the completion of 1 lakh homes from stalled projects, providing a significant boost to the housing sector.” However, he noted that the industry had anticipated additional policy measures to further stimulate demand, including increased incentives for affordable housing, GST reductions, and additional income tax benefits. “A higher cap on home loan interest exemptions, which has remained unchanged for years, and a revised definition of affordable housing—based on minimum dwelling unit size rather than a fixed ₹45 lakh value nationwide—would have provided additional momentum to the market and improved housing affordability,” he added. Despite these unmet expectations, Mr. Naiknavare emphasized that the budget remains progressive and forward-looking, with a positive impact expected on the real estate ecosystem. Budget 2025 Reaction by Kapil Gandhi, MD, Sigma One Universal Echoing similar sentiments, Mr. Kapil Gandhi, Managing Director of Sigma One Universal, appreciated the government’s strong focus on urban development and infrastructure enhancement. “The creation of new funds amounting to nearly ₹1 lakh crore and a renewed push for infrastructure through PPP projects will enhance urban liveability in cities like Pune and drive long-term growth,” he said. Additionally, he welcomed key tax reforms, stating: “The increase in the income tax exemption limit to ₹12 lakh is a major relief for the middle class. Likewise, the hike in rental TDS from ₹2.2 lakh to ₹6 lakh and the removal of notional rent on a second self-occupied property are positive changes. These measures will encourage homebuyers, particularly those looking to invest in additional or second homes, while fostering a positive sentiment in the real estate market.” A Forward-Looking Budget for Real Estate While industry leaders acknowledge the positive steps taken in the budget, they also highlight the need for additional reforms to sustain long-term growth in the housing sector. The continued focus on urban infrastructure, affordable housing, and tax relief is expected to contribute significantly to India’s real estate landscape in the coming years.

Mumbai, 30th January 2025 As we approach the Union Budget 2025-26, the real estate sector looks forward to policy initiatives and reforms that can drive growth, enhance affordability, and address long-standing industry challenges. The sector, a critical contributor to the nation’s GDP and a significant employment generator, requires sustained focus and support to maintain its upward trajectory. 1) Boosting Housing Affordability: To ensure the success of initiatives like PMAY-U, it is imperative to increase budgetary allocations for affordable housing and expand credit-linked subsidies. Additionally, revising income tax deduction limits under Section 24(b) for home loan interest from ₹2 lakh to ₹5 lakh can further enhance housing affordability, encourage homeownership, and boost the flow of funds into the affordable housing sector, which has seen a slowdown in recent months. 2) Industry Status for Real Estate: Granting industry status to the real estate sector remains a key demand. This will enable easier access to institutional funding at lower interest rates, particularly for mid-segment and affordable housing projects. 3) Rationalization of GST: A uniform GST rate with input tax credit for residential and commercial projects can significantly reduce costs and streamline taxation. Additionally, reducing GST rates for under-construction properties can encourage buyers and increase project sales. 4) Incentivizing Sustainable Development: The government should promote green and sustainable real estate practices through tax rebates and incentives for developers adopting eco-friendly building technologies and materials. This aligns with India’s commitment to achieving carbon neutrality. 5) Focus on Infrastructure Development: Continued investments in urban infrastructure, including metro rail, highways, and smart cities, will boost real estate development in peripheral areas and unlock new growth corridors. 6) Ease of Doing Business: A single-window clearance mechanism for approvals, reduced compliance burdens, and clear land title policies will streamline project execution and attract domestic and foreign investments. 7) Support for REITs and Focus on Rental Housing: Encouraging investments in Real Estate Investment Trusts (REITs) through tax benefits and regulatory support can provide liquidity to the sector. Similarly, Rental housing can play a pivotal role in addressing urban housing shortages and supporting the mobility of the workforce. The government should introduce incentives and policy support for developing affordable rental housing complexes, ensuring access to quality housing for tenants. We are hopeful that the Union Budget 2025-26 will introduce measures that empower the real estate sector to thrive, creating opportunities for developers, homebuyers, and allied industries. By addressing these critical areas, the government can unlock the true potential of India’s real estate sector as a pillar of economic growth and development.