‘New Nagpur’ in the Vision of the Chief Minister

Nagpur, Sept 2025 : Maharashtra state has continued the galloping pace of development in various sectors. Priority is also being given here to balance the development of urban and rural areas of the state. Maharashtra’s industrial triangle, Pune, with the flourishing IT sector as well as industrial development in Konkan, Nashik, Kolhapur, Chhatrapati Sambhajinagar, and Nagpur is also vigorously driving the industry of those regions. Blending new challenges and new opportunities, Maharashtra too has accepted its responsibility towards fulfilling the expectations of the new era and realizing the dream of a developed India. In this very direction, under the leadership of Chief Minister Devendra Fadnavis, important decisions and memoranda of understanding have recently been finalized for the establishment of the ambitious international business and financial center called ‘New Nagpur’ to take Nagpur along with Vidarbha on the path of progress. The naming of this project was done by none other than Chief Minister Mr. Fadnavis himself, and the project received approval in the cabinet meeting chaired by him. In his very presence, a memorandum of understanding worth ₹6,500 crores was also signed. This project is going to be a milestone to take Vidarbha along with Maharashtra further on the path of development. This is a decisive step towards becoming one of the country’s most advanced and world-class financial and business centers. On Nagpur’s economic map, this project will prove to be a “game changer.”

Geographically, India’s heart—Zero Miles city, and the largest in Central India, Maharashtra’s sub-capital, Tiger Capital, headquarters of Vidarbha, and the state’s third-largest city by population—Nagpur carries a glorious social, economic, historical, political, and cultural heritage along with these titles. Now with Zero Mile of Samruddhi Highway, metro train, green buses, flyovers, elevated routes, airport and railway, best medical facilities, important administrative offices, and educational institutions, this city has become enriched. Nagpur has also recently received the honor of setting up the country’s first experimental smart and intelligent village. In this very chain, to accelerate the city’s development and to build a significant business and financial center with world-class facilities, an important step has been taken in the form of ‘New Nagpur.’

Under the visionary leadership and guidance of Chief Minister Devendra Fadnavis, the ambitious project ‘New Nagpur’ is being established with the objective of making Nagpur a national hub of corporate offices, creating world-class infrastructure including business, residential, and social aspects, and developing the city as a technology and innovation center in Central India. For this grand project “New Nagpur,” as the future International Business and Financial Center (IBFC) of Maharashtra, two important memoranda of understanding were signed on September 8, 2025, in the presence of Chief Minister Devendra Fadnavis between Nagpur Metropolitan Region Development Authority (NMRDA), Navratna-status National Buildings Construction Corporation Limited (NBCC–India Ltd.) of the central government, and Housing and Urban Development Corporation Limited (HUDCO).

As per the agreement between NMRDA and NBCC (India) Ltd., this project is being set up on 1,710 acres of greenfield agricultural land. For the development of this project, a total of 1,000 acres will be used in three phases, each of five years, while the remaining 710 acres will be reserved for future expansion. This development will be based on a plug-and-play model. Facilities included in this will be integrated underground utility tunnels, district cooling system, automatic waste collection and segregation project, startups, MSMEs, IT companies, commercial centers, as well as residential and mixed-use projects. For this, a competent committee will be established under the chairmanship of the NMRDA Commissioner.

The second important agreement was signed between NMRDA and HUDCO. Under this agreement, HUDCO has provided ₹6,500 crores for land acquisition of the New Nagpur project. With this funding, the project will rapidly take shape, and the partnership will also include workshops, training, and capacity-building programs.

This project is being established on 1,710 acres of greenfield agricultural land located along Samruddhi Highway in Ladgaon-Rithi and Godhni-Rithi area of Hingna taluka under Nagpur Metropolitan Region, 2 km from the outer ring road. For the development of this project, 1,000 acres will be used in three phases of five years each, while the remaining 710 acres will be used for future expansion. In terms of connectivity, this project will be located next to Samruddhi Highway, 15 minutes from the international airport, 30 minutes from the railway station, and close to the soon-to-be-extended metro route.

Skilled manpower of Vidarbha to be available to corporate sector
This project will come into prominence as the knowledge corridor of the state. Geographically, due to proximity, the 41 engineering colleges, 28 private educational institutions in the Nagpur region, the second division in the state with the highest number of engineering colleges, and the students here will have golden employment opportunities. Importantly, nearly 16,000 students graduating annually with engineering degrees from Vidarbha will also have doors of opportunity opened through this. In addition, for this project, agreements will be signed with Nagpur’s IIM, AIIMS, Triple IIT, VNIT, Institute of Management and Technology (IMT), Maharashtra National Law University (NLU), along with NIMS and Symbiosis, these Indian and global educational institutions.

Digital solution and single-window approval at one place
For inclusion in this project, corporate sector, micro, small and medium enterprises as well as startups will get digital solution at one place and single-window approval. Through this, various approvals of the central and state government, International Business and Financial Center (IBFC) approval, as well as no-objection certificate from RBI, SEBI and IRDAI, GST registration, real-time status of application, online payment of fees, and real-time verification of PAN, DIN and CIN will be available at one place. For ease of various approvals, services of Town Planning, Electricity and Public Utilities, Maharashtra Pollution Control Board (necessary environmental approval), Labour and Tax Department, Energy Department, and Registration, Stamp and Revenue Department will be available at one place.

Important stages of the project; Chief Minister Devendra Fadnavis gave the name ‘New Nagpur’
For the establishment of this project, in November 2024, visits were made to Gift International Financial Services Center (Gift City) in Gandhinagar district of Gujarat state, Bandra Kurla Complex in Mumbai, and IT City and Startup Hub in Mohali of Punjab state for inspection. In December 2024, the project presentation was made in the presence of Nagpur Divisional Commissioner Vijayalakshmi Bidari and Additional Chief Secretary of Urban Development Department Asim Gupta. Chief Minister Devendra Fadnavis and Revenue Minister and Guardian Minister of Nagpur district Chandrashekhar Bawankule gave preliminary approval to the project on February 12, 2025. This ambitious project was given the apt name ‘New Nagpur’ by none other than Chief Minister Devendra Fadnavis on February 25, 2025. Regarding financial backing for the establishment of this entire project, preliminary-level meetings were held in April-May 2025 with Navratna-status National Buildings Construction Corporation Limited (NBCC–India Ltd.) and Housing and Urban Development Corporation Limited (HUDCO Ltd.).

In the month of June, important developments took place to accelerate this project, according to which Nagpur Metropolitan Region Development Authority (NMRDA) approved land reservation for New Nagpur under Section 37 of the Maharashtra Regional and Town Planning Act. On June 24, 2025, Gazette was published and it was also published in local newspapers. Under this, a total of 738 individual notices were issued based on the 7/12 extracts. In the same month, NBCC was appointed as the project management consultant agency at 4 percent fees, and HUDCO was approved to provide funds at 8.60 percent quarterly interest rate. In July 2025, with the help of Visvesvaraya National Institute of Technology Nagpur (VNIT), social and environmental impact assessment study was conducted. In the same month, HUDCO approved ₹3,000 crores funds at 8.60 percent interest rate for land acquisition for this project. As a result of all this, on September 3, 2025, the project was approved in the state cabinet. Five days later, that is, on September 8, 2025, in the presence of Chief Minister Devendra Fadnavis, two important memoranda of understanding were signed between NMRDA, NBCC and HUDCO for the development of New Nagpur.

Estimated 5 lakh workers and 1 lakh employment
‘New Nagpur’ project is going to be established in a total area of 692 hectares (1,710 acres), and here 1 lakh residents and 5 lakh workers are estimated as well as nearly 15 billion US dollars economy generation. Out of the total available area, 45 percent area will be used for commercial activity, 20 percent area for transportation, while 10 percent land each will be used for residence, services-facilities and green and open space, and 5 percent area will be used for social infrastructure.

Through the project, employment will be available to an average of 25,721 people annually for the initial five years. Based on an average monthly salary of ₹30,000, ₹18,519 crores will be spent on salaries. Out of the total project, 45 percent i.e., 450 acres of land will also be used as commercial area, and 20,916 offices will be established here. In the real estate sector, an investment of nearly ₹74,000 crores can take place. Corporate sector and micro, small and medium enterprises as well as startups will be properly integrated. Under this, 50 percent division for corporate sector, 30 percent for micro, small and medium enterprises, and business park with modular units will be set up, and as per 100 percent plug-and-play co-working space, 20 percent area will be given to startups.

Such will be the financial turnover
While building a world-class financial center, planning has also been made to establish proper financial framework. Accordingly, in the first five years, revenue of ₹98,860 crores will be generated. Mainly, through commercial unit sales, ₹84,680.64 crores will be raised. Through residential unit sales, ₹11,291 crores, for facilities ₹2,091 crores, and in return for development work approvals ₹798 crores revenue will be generated. In comparison, total expenditure will be ₹11,356 crores, out of which 57 percent expenditure will be on infrastructure, 26 percent expenditure on land acquisition, 5 percent for road construction, 1 percent for environmental approvals, and 2 percent for facilities. Along with this, 4 percent expenditure will be for consultancy services and 5 percent expenditure for marketing and contingency.

Chief Minister Devendra Fadnavis’ memoranda of understanding with various companies at World Economic Forum in Davos to bring industries to Vidarbha including Nagpur, the decisions taken to bring Gadchiroli district to the forefront of the path of development and their implementation, the active initiative taken to build an airport in Vidarbha, and the initiative taken for development of agriculture through irrigation in drought-prone areas of Vidarbha through Nagal-ganga–Wainganga river linking project—now all these developmental journeys will get more strength and the pace of development will also increase through the ‘New Nagpur’ project.