NBCC to Build Future-Ready Naveen Nagpur as the International Business & Finance Center (IBFC)

In a major step towards reshaping the urban landscape of Nagpur, NBCC (India) Limited, a Navratna Central Public Sector Enterprise under the Ministry of Housing and Urban Affairs, has inked a Memorandum of Understanding (MoU) with the Nagpur Metropolitan Region Development Authority (NMRDA) for the development of Naveen Nagpur, as the International Business & Finance Center (IBFC) planned in the metropolitan region on 08.09.2025.

 

The MoU was formally signed in the esteemed presence of Shri Devendra Fadnavis, Hon’ble Chief Minister of Maharashtra and Shri Eknath Shinde, Hon’ble Deputy Chief Minister of Maharashtra by Shri K.P. Mahadevaswamy, Chairman and Managing Director, NBCC and Shri Sanjay Meena, IAS, Metropolitan Commissioner, NMRDA. Other distinguished dignitaries and senior officials from both the organizations were also present on this occasion.

 

The newly envisioned business district of Naveen Nagpur will cover an area of around 1,710 acres (692 Ha) wherein the business district will be spread across 1000 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, district cooling system, automated waste collection and 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.

 

NBCC has been appointed as the Project Management Consultant for 1,000 acres land planned as business district. The project will be executed in three phases over the next 15 years. This MoU marks a landmark step in advancing Naveen Nagpur as a planned International Business and Finance Centre (IBFC), laying a strong foundation for its strategic growth and development.

 

The project received approval from the Maharashtra Cabinet on 03.09.2025. Poised to be a game-changer for Vidarbha and Maharashtra, the Naveen Nagpur Development Project is expected to catalyze economic activity, create jobs, and elevate the quality of life for citizens by delivering world-class infrastructure and urban living standards.