The Nagpur Metropolitan Region Development Authority (NMRDA) has kicked off land acquisition for a ₹3,000-crore International Business and Finance Centre (IBFC) under the state-backed New Nagpur project. Planned on the lines of Mumbai’s Bandra Kurla Complex (BKC) and Gujarat’s GIFT City, the 1,710-acre hub at Godhani Ladgaon (Rithi) in Hingna is poised to transform Nagpur into a commercial powerhouse.

With NBCC appointed as project management consultant, the IBFC will be developed on a plug-and-play model featuring modern infrastructure, single-window clearances, and a dedicated ecosystem for startups, corporates, and knowledge-driven industries.

Earlier this month, the state government allocated ₹6,500 crore for the New Nagpur project, of which about ₹3,500 crore will be spent on land acquisition for the IBFC.

The IBFC project aims to transform Nagpur into a major commercial hub by developing industrial and service centres across the metropolitan region. The project is planned to be executed over the next 15 years.

The project is designed to encourage the growth of knowledge-driven industries, startups, and corporate offices. To streamline the process, a single-window clearance system will be introduced for quick and hassle-free approvals.

The National Building Construction Corporation (NBCC) has been appointed as the project management consultant to oversee and execute the development.

The NBCC announced on September 9 that it had been appointed as the Project Management Consultant for the New Nagpur project. The project covers an area of around 1,710 acres (692 hectares), for which it has signed a Memorandum of Understanding (MoU).

According to NBCC’s statement, the business district will be spread across 1,000 acres, and 710 acres will be reserved for future expansion. Naveen Nagpur will be developed on a plug-and-play model featuring state-of-the-art infrastructure such as integrated underground utility tunnels, a district cooling system, automated waste collection, and a segregation plant.

The project will focus on building commercial establishments for start-ups, MSMEs, IT companies, and commercial offices, along with residential and mixed-use developments aligned with town planning guidelines. The statement said the MOU marks a landmark step in advancing Naveen Nagpur as a planned IBFC, laying a strong foundation for its strategic growth and development.