Massive momentum for ₹6,500-crore township as farmers hand over land; civic teams move fast on ground
The New Nagpur Project — one of Vidarbha’s most ambitious urban developments — has hit a major milestone. The Nagpur Metropolitan Region Development Authority (NMRDA) has received assurance deeds for 260 hectares (642 acres) of land from farmers in Hingna taluka.
With this, NMRDA has already secured more than one-third of the 692.06 hectares required for the ₹6,500-crore International Business and Finance Centre (IBFC). At this pace, officials expect to acquire over 90% of the land by year-end, setting an unprecedented speed record for a project of this scale.
The mega township, being developed jointly with NBCC (India) Ltd, will house commercial zones, residential sectors, startup hubs, and civic facilities — with a potential to create over five lakh jobs.
A proposal under Guardian Minister Chandrashekhar Bawankule offers landowners 1,500 sq. ft of developed land per acre, plus ₹1.57–₹1.80 crore per acre compensation, depending on location and quality.
Next, a collector-led committee — including officials from the Registration Department, SDM (Rural), and NMRDA — will begin on-site verification of acquired parcels to finalize payouts.
Additional Commissioner Sachin Dhole said the process is progressing smoothly:
“We’re ensuring transparency, protecting landowners’ rights, and maintaining steady coordination,” he said.
With over 260 hectares already secured, the New Nagpur Project is now fast turning from blueprint to ground reality.
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