Advertisement
The Maharashtra government has cleared the INR 6,500-crore New Nagpur project, aimed at setting up a hi-tech business and finance hub in Hingna taluka. Spread across 692 hectares in Godhni and Ladgaon, it will feature an International Business and Finance Centre and is being implemented by the Nagpur Metropolitan Region Development Authority (NMRDA) with NBCC (India) Ltd as consultant. Of the total outlay, INR 3,000 crore will be used for land acquisition and INR 3,500 crore for Phase I development, funded by a HUDCO loan backed by the state government.
The state cabinet has approved the INR 6,500-crore New Nagpur project to develop a hi-tech business and finance hub in Hingna taluka. The project covers 692 hectares in Godhni and Ladgaon and will include an International Business and Finance Centre (IBFC). The Nagpur Metropolitan Region Development Authority (NMRDA) will implement the project, with NBCC (India) Ltd acting as consultant. Advertisement
The state has allocated INR 3,000 crore for land acquisition and INR 3,500 crore for the first phase of development. Funding will come through a loan from HUDCO, guaranteed by the Maharashtra government. The project has been granted flagship status, with a waiver of stamp duty on related agreements.
Officials have said that the development is expected to generate over five lakh knowledge-based jobs. They added that Nagpur has more than 275 higher education institutions, including VNIT, IIM and AIIMS, and this project will help retain talent by creating opportunities within the city.
A major feature of the plan is an underground utility tunnel designed on a plug-and-play model. It will integrate power, water, gas, telecom, cooling systems and automated waste management. The tunnel will use trenchless technology, making future expansion easier.
The district will follow green urban planning principles and include smart utilities. Businesses will have access to a single-window clearance system for faster approvals. Authorities believe this will help attract global companies, support startups and encourage entrepreneurship.
The state has said that the project will also help decongest existing areas of Nagpur while improving employment and business opportunities. It is part of broader plans to strengthen connectivity and development in the Vidarbha region, alongside earlier initiatives such as MIHAN and the new outer ring road.
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
