Tag: New Nagpur project

InfrastructureLatest Stories

Uncertainty Surrounds 500+ Acre Land Deal for New Nagpur

NAGPUR: The rising land acquisition costs are becoming a significant challenge for the New Nagpur Project, which is positioned as a key urban expansion initiative by the Maharashtra government. The project originally aimed to acquire approximately 1,710 acres (around 692 hectares) of land. However, the Nagpur Metropolitan Region Development Authority (NMRDA) has indicated that around 500 to 600 acres remain uncertain for acquisition. According to senior officials at NMRDA, the initial land acquisition cost estimated at ₹3,000 crore has surged past ₹4,000 crore, with expectations of further increases. The Times of India was the first to report this rise of…

InfrastructureLatest Stories

New Nagpur project land costs could exceed ₹4,000 crore

Representative image NAGPUR: The projected cost for acquiring land for the New Nagpur Business District project is expected to surpass ₹4,000 crore, nearly ₹1,000 crore more than the original estimate of ₹3,000 crore. The final compensation rates for farmers are anticipated to be confirmed within a week. According to collectorate sources, “Once the compensation details are finalized, they will be forwarded to the Nagpur Metropolitan Region Development Authority (NMRDA) to initiate the acquisition process.” The acquisition encompasses land from Mouza Ladgaon (Rithi) and Mouza Godhani (Rithi) in Hingna taluka. A total of 629.43 hectares of private land is being acquired…

IndustryLatest Stories

Commercial Plots for Project-Affected Farmers in New Nagpur

Representative AI image NAGPUR: Maharashtra’s Revenue Minister Chandrashekhar Bawankule introduced a “historic” package for the New Nagpur initiative on Friday. He stated that landowners affected by acquisitions would now receive commercial plots alongside monetary compensation, as the government began gathering eligibility lists for a potential farm loan waiver. During a media briefing in Nagpur, Bawankule highlighted that the updated package represents a significant shift from the previous policy, which only provided financial compensation. Under the new framework, farmers in commercial zones will also receive developed plots, reinforcing support for the project and expediting the city’s growth. Additionally, the state launched…

InfrastructureLatest Stories

Maharashtra Approves ₹6,500 Crore for Hi-Tech ‘New Nagpur’

NAGPUR: On Wednesday, the state cabinet approved the ambitious ₹6,500-crore ‘New Nagpur’ initiative, designed to create a high-tech city and business hub in Hingna taluka. This project aims to position Nagpur alongside India’s leading tech cities, such as Hyderabad and Bengaluru, featuring an International Business and Finance Centre (IBFC) intended to foster a modern ecosystem for industries, startups, and corporate offices. The Nagpur Metropolitan Region Development Authority (NMRDA) is responsible for implementing the project and has engaged NBCC (India) Limited as the project consultant, leveraging their extensive experience in large-scale urban developments. A senior official stated that work will commence…