New Delhi, 10 September 2025: A MoU was signed and exchanged between the Nagpur Metropolitan Region Development Authority (NMRDA), Housing and Urban Development Corporation Limited (HUDCO) and NBCC (India) Limited.
These MoUs mark a major leap for ‘Naveen Nagpur’ set to transform the city’s economic and commercial landscape. HUDCO Agreement – Approx ₹11,300 crore fund HUDCO will provide Approximately ₹11,300 crore, with ₹6500 crore for land acquisition, commercial development, and infrastructure for Naveen Nagpur International Business and Financial Centre (IBFC), and ₹4800 crore for the Outer Ring Road.
The funding will accelerate key infrastructure, workshops, training, and capacity-building initiatives. NBCC Agreement – 1000 acres for a world-class financial hub Development on 1000 of 1710 acres will follow a plug-and-play model while the remaining 710 acres are reserved for future expansion. The project will feature integrated utility tunnels, district cooling, automated waste management, start-ups, MSMEs, IT firms, commercial centres, and mixed-use residential projects.
NBCC will manage the project in three phases over 15 years under a dedicated committee chaired by the NMRDA Commissioner. With Cabinet approval on 3 September 2025, these projects position ‘Naveen Nagpur’ as a cutting-edge, global financial and business hub—a true game changer for the city. DCM Eknath Shinde ji, Minister Girish Mahajan and other concerned officials were present.
