Nagpur: The Nagpur Metropolitan Region Development Authority (NMRDA) has entered into a Memorandum of Understanding (MoU) with NBCC (India) Limited, a Navratna Central Public Sector Enterprise under the Ministry of Housing and Urban Affairs, for the development of New Nagpur as an International Business & Finance Centre (IBFC).
The MoU was signed in the presence of Maharashtra Chief Minister Devendra Fadnavis, NBCC CMD K.P. Mahadevaswamy, NMRDA Metropolitan Commissioner Sanjay Meena (IAS), and other dignitaries.
Gold Rate
18 Aug 2025
About the Project
The upcoming business hub will span nearly 1,710 acres (692 hectares). Out of this, 1,000 acres will be developed as the core business district, while 710 acres will be reserved for future expansion.
Planned on a plug-and-play model, New Nagpur will feature cutting-edge infrastructure such as:
- Integrated underground utility tunnels
- District cooling systems
- Automated waste collection and segregation plants
The district aims to create world-class commercial spaces for start-ups, MSMEs, IT companies, financial institutions, and corporate offices, in addition to residential and mixed-use developments aligned with modern town planning standards.
Execution Timeline
NBCC has been appointed as the Project Management Consultant for the 1,000-acre business district. The project will be executed in three phases over the next 15 years.
Approved by the Maharashtra Cabinet on September 3, 2025, this project marks a landmark step toward transforming New Nagpur into a globally competitive International Business & Finance Centre, laying the foundation for sustainable growth and development.
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