The ₹6,500 Crore Vision: A New Nagpur Rises

The Nagpur Metropolitan Region Development Authority (NMRDA) has initiated the acquisition of approximately 1,710 acres on the city’s outskirts to develop the International Business and Finance Centre (IBFC) — a flagship project aimed at transforming Nagpur into a major commercial hub.

Project Overview

The IBFC is envisioned as a world-class business district, modeled on Mumbai’s Bandra Kurla Complex (BKC) and Gujarat’s GIFT City. It forms a central component of the ₹6,500 crore New Nagpur project, with the IBFC alone estimated to cost ₹3,000 crore, and ₹3,500 crore allocated for land acquisition.

Located at Godhani Ladgaon (Rithi) in Hingna, the project will promote startups, MSMEs, IT firms, and corporate offices over a 15-year horizon. Designed with a plug-and-play model, the IBFC will feature integrated infrastructure, including:

Utility tunnels, Automated waste management systems, District cooling technology, Development & Land Use, 1,000 acres will be dedicated to the core business district, 710 acres will be reserved for future expansion

NBCC (National Buildings Construction Corporation) has been appointed as the project management consultant

To streamline land acquisition, NMRDA has invited landowners for direct negotiations, with a key meeting scheduled for September 19, focusing on a mutual consent-based process.

The IBFC is positioned to redefine Nagpur’s economic landscape by attracting investment and fostering a high-tech, innovation-driven ecosystem in central India.

News by Rahul Yelligetti.