Mumbai is set to play host to one of the most pivotal events in the real estate sector this year, as the Maharashtra Chapter of the National Real Estate Development Council (NAREDCO) convenes its flagship event, The Real Estate Forum (TREF) 2024.
Scheduled for August 29, 2024, at the prestigious Hotel Trident, this third edition of TREF is expected to set the tone for the future of Maharashtra’s real estate industry, with JLL serving as the knowledge partner for the event. TREF 2024 is poised to be a significant gathering, drawing over 500 key stakeholders from across the real estate sector. The forum will focus primarily on India’s residential sector, offering a comprehensive platform to discuss the latest trends, innovations, and opportunities in the industry. In addition, the event will see the release of a white paper by JLL, which will provide in-depth insights into the sector’s current landscape and future trajectory.
The event will be attended by several high-profile dignitaries, including Maharashtra’s Chief Minister, Eknath Shinde; Deputy Chief Minister, Devendra Fadnavis; and Housing Minister, Atul Save. Their presence underscores the importance of the forum in sharing the policies and strategies that will drive Maharashtra’s real estate sector forward. A spokesperson for NAREDCO Maharashtra expressed optimism about the upcoming forum, stating, “We are excited to host The Real Estate Forum 2024, which we believe will be instrumental in addressing the challenges and opportunities within our industry. This year’s forum will focus on bringing necessary changes in policy matters that will support and enhance the growth of the real estate sector.”
A representative from JLL India highlighted Mumbai’s ongoing expansion, driven by key infrastructure projects such as the completion of transit systems and the forthcoming Navi Mumbai Airport. The spokesperson projected that these developments would significantly bolster the city’s residential and commercial real estate markets, with residential sales values expected to surpass INR 1.35 lakh crore in 2024. The market is also anticipated to grow at a compound annual growth rate (CAGR) of 6.8%, potentially exceeding INR 2 lakh crore by 2030. Developers have already secured over 280 acres of land, positioning the city for a development potential of 42-48 million sq. ft. and an estimated sales potential of nearly INR 70,000 crore.
TREF 2024 will feature a robust agenda, including keynote speeches, panel discussions, and interactive workshops. The forum will tackle a wide range of topics critical to the real estate sector, such as government policies that influence real estate development, the diversity of the residential market, the challenges and opportunities in urban redevelopment, and emerging trends in real estate financing. One of the forum’s focal points will be the necessary amendments to the Real Estate (Regulation and Development) Act, 2016 (RERA), often referred to as RERA 2.0.
