Maharashtra Assembly Speaker Rahul Narwekar said infrastructure expansion and housing growth will play a central role in driving India towards its Rs 416 lakh crore economic ambition, while addressing industry leaders at the ET Now Realty Conclave & Awards 2026 – West Edition.
Linking real estate to India’s broader development roadmap, Narwekar noted that the country has emerged as the world’s fourth-largest economy and is expected to advance further by 2027. By 2047, when India completes 100 years of Independence, the goal is to achieve developed nation status, placing responsibility on sectors such as real estate that directly influence citizens’ daily lives.
India has sustained annual growth of over 6.5 to 7 per cent in recent years, with real estate contributing steadily to this momentum. Narwekar said housing and commercial development now shape mobility, employment patterns and urban lifestyles.
Highlighting Maharashtra’s trajectory, he pointed to increased capital expenditure on infrastructure over the past five years. Projects such as the Atal Setu sea bridge linking Navi Mumbai and South Mumbai have reduced travel time and opened new development corridors. The Mumbai Coastal Road and the expanding metro network are also improving connectivity, enabling faster commutes and making emerging locations viable for residential and commercial investment.
Despite spatial constraints as an island city, Mumbai continues to expand through planned connectivity to business districts, airports and suburban hubs. Narwekar said the city’s strength lies in catering to diverse housing segments, from affordable units to luxury developments, alongside high-quality commercial spaces that sustain its financial capital status.
He added that real estate growth is spreading to tier-two and tier-three cities, with rising demand for second homes in areas such as Alibaug and Karjat. Concluding, Narwekar assured policy support for balanced sectoral growth aligned with India’s long-term economic goals.
Source: ET Now
