Mumbai: Maharashtra is entering a new phase of accelerated urban and economic development, with large-scale redevelopment, infrastructure expansion, new economic corridors and technology-led governance set to transform Mumbai and the wider metropolitan regions of the State, said Shri Devendra Fadnavis, Chief Minister of Maharashtra.
The Chief Minister was speaking at the 6th Edition of Real Estate & Infrastructure Investors’ Summit – REIIS 2026, held in Mumbai, where he outlined the State Government’s long-term development vision and invited the real estate and infrastructure industry to become a key partner in its execution.
Fadnavis also unveiled the logo of ‘Naveen Nagpur’ (New Nagpur), the project initiated by NMRDA (Nagpur Metropolitan Regional Development Authority). NAREDCO Maharashtra signed a Memorandum Of Understanding (MoU) with NMRDA in the presence of Mr. Sanjay Meena, IAS, Metropolitan Commissioner, NMRDA.
Highlighting Maharashtra’s experience with regulation, the Chief Minister said, “Maharashtra was the first State to have a regulator. The Government worked with the developers’ fraternity and today Maharashtra has the most successful regulator in India. The trade has been cleaned up and a level playing field has been created,” he said.
According to the Chief Minister, the transformation taking place in the real estate sector is also reflected in the evolving functioning of industry associations such as NAREDCO, which are increasingly looking at the interests of the entire sector and its long-term growth.
Maharashtra grows at 8.8%; real estate emerges as a major growth engine
The Chief Minister pointed to Maharashtra’s strong economic performance, noting that while India recorded 7.6% growth in the first quarter, Maharashtra registered 8.8% growth. The real estate sector, he said, has an important role in sustaining this growth.
Noting that Mumbai’s property market is already reflecting this momentum with August 2026 recorded around 12,500 property registrations, the highest monthly number, while cumulative registrations crossed 1.06 lakh, generating approximately ₹9,355 crore in government revenue – a record performance, the Chief Minister said, “The real estate industry in MMR is growing at a fast pace. It is now time to give the entire Mumbai a new look”
