SBI Term Loan: RLLR: 8.15 | 7.25% - 8.45%
Canara Bank: RLLR: 8 | 7.15% - 10%
ICICI Bank: RLLR: -- | 8.5% - 9.65%
Punjab & Sind Bank: RLLR: 7.3 | 7.3% - 10.7%
Bank of Baroda: RLLR: 7.9 | 7.2% - 8.95%
Federal Bank: RLLR: -- | 8.75% - 10%
IndusInd Bank: RLLR: -- | 7.5% - 9.75%
Bank of Maharashtra: RLLR: 8.05 | 7.1% - 9.15%
Yes Bank: RLLR: -- | 7.4% - 10.54%
Karur Vysya Bank: RLLR: 8.8 | 8.5% - 10.65%

Location : Nagpur

Nagpur identifies over 28,000 property tax defaulters with dues of INR 259 crore

Nagpur News Desk

04 May 2026

The Nagpur Municipal Corporation has identified more than 28,000 property owners who have defaulted on property tax payments, with total outstanding dues estimated at INR 259 crore. The civic body has initiated recovery measures, including issuing notices and planning enforcement action against defaulters. The exercise is part of efforts to strengthen municipal revenues and improve tax compliance. Authorities have indicated that stricter monitoring and recovery mechanisms will be implemented, particularly targeting large defaulters, to support funding for civic infrastructure and urban services in the city.Read more

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Nagpur’s eco-friendly property tax rebate scheme sees adoption below 1%

Nagpur News Desk

01 May 2026

The Nagpur Municipal Corporation’s eco-friendly property tax rebate scheme has recorded adoption of less than 1%, despite incentives aimed at encouraging sustainable building practices. The scheme offers tax benefits to property owners implementing measures such as rainwater harvesting and solar energy systems. However, limited awareness, procedural challenges, and compliance requirements have restricted participation. The low uptake highlights the gap between policy intent and on-ground adoption, raising concerns over the effectiveness of incentive-led sustainability measures in urban housing and real estate development.Read more

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Nagpur faces INR 2,000 crore property tax backlog, raising concerns over civic finances

Nagpur News Desk

30 Apr 2026

Nagpur Municipal Corporation (NMC) is grappling with nearly INR 2,000 crore in unpaid property tax dues, amounting to almost one-third of its proposed budget for the upcoming financial year. The backlog spans over 4.5 lakh properties, with a significant share pending for more than a decade, reflecting long-standing enforcement gaps. Open plots, unmapped properties and residential units account for a large portion of arrears. The scale of non-compliance has raised concerns over the city’s fiscal stability, as property tax remains a primary revenue source for funding infrastructure and essential services. The situation highlights structural inefficiencies in tax recovery and data systems within urban local bodies.Read more

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Nagpur civic body faces revenue pressure as 3.76 lakh property owners skip tax payments

16 Apr 2026

Nagpur Municipal Corporation has seen a drop in property tax collections despite an increase in the total number of properties. Around 3.76 lakh property owners have not paid their dues, affecting one of the civic body's main revenue sources. Collections remain lower than last year even as targets were raised. Recovery work was also impacted due to election duties, while some zones showed weak compliance. The situation highlights gaps in enforcement and property tracking, even as the civic body continues to explore rebates and stricter recovery measures.Read more

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Nagpur Metro Phase III DPR tender enters evaluation stage as groundwork for expansion expected to begin in May

16 Apr 2026

The tender process for preparing the Detailed Project Report (DPR) for Nagpur Metro Phase III has progressed to the evaluation stage, with two firms submitting bids for the consultancy assignment. Maharashtra Metro Rail Corporation Limited (MahaMetro) has initiated technical scrutiny of the proposals, after which financial bids will be opened before awarding the contract. The DPR will define the scope of the proposed Phase III expansion, which is expected to be the largest addition to the Nagpur Metro network, covering multiple new corridors including Inner Ring Road, Sitabuldi Koradi, Butibori extension, and New Nagpur connectivity. Once a consultant is appointed, groundwork for surveys and planning is expected to commence next month, forming the basis for subsequent state and central approvals.Read more

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Nagpur civic body proposes up to 15% property tax rebate to improve compliance and accelerate collections

14 Apr 2026

The Nagpur Municipal Corporation (NMC) has proposed offering property tax rebates of up to 15% to encourage timely payments and improve compliance among property owners. The proposal, reviewed in the past week, is based on the previous year's response, where over 44% of taxpayers availed rebate schemes. The revised structure aims to incentivise early payments, with higher rebates applicable for payments made within the initial months of the financial cycle, followed by reduced benefits later in the year. The initiative also seeks to promote digital transactions while ensuring steady revenue inflows for civic operations. The move comes amid ongoing efforts by the civic body to strengthen its revenue base and address collection gaps, including significant outstanding dues from various entities.Read more

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Land acquisition cost for New Nagpur business district project crosses INR 4,000 crore amid ongoing negotiations

08 Apr 2026

The land acquisition cost for the New Nagpur Business District project has risen beyond INR 4,000 crore, exceeding the initial estimate of INR 3,000 crore, as authorities near completion of negotiations with landowners. The project, spanning over 692 hectares in Hingna taluka near Nagpur, is being implemented by the Nagpur Metropolitan Region Development Authority (NMRDA) with NBCC (India) Ltd as consultant. Around 629.43 hectares of private land is being procured through direct purchase across Mouza Ladgaon and Mouza Godhani. Compensation terms, including higher payouts and developed plot allocations for farmers, are being finalised. The INR 11,300 crore project is planned as an International Business and Finance Centre aimed at supporting large-scale commercial development and employment generation.Read more

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Nagpur civic body faces INR 145 crore property tax shortfall from government departments

26 Mar 2026

The Nagpur Municipal Corporation (NMC) is facing challenges in recovering over INR 145 crore in unpaid property tax from central and state government departments, impacting its revenue targets for the current financial year. The dues relate to around 358 government-owned properties, with state entities accounting for the majority share. Despite issuing notices and initiating follow-ups, recovery has remained slow, with only a limited portion collected so far. The shortfall comes at a time when the civic body has already revised its annual tax collection target downward. The situation has prompted the administration to consider measures such as a potential property tax increase, highlighting fiscal pressures on urban local bodies dependent on property tax revenues for infrastructure and service delivery.Read more

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Nagpur’s limited warrant action leaves majority of commercial property tax dues unaddressed

09 Mar 2026

Nagpur Municipal Corporation's action against commercial property tax defaulters has covered only a small portion of the total outstanding dues. Out of around INR 190 crore pending from over 2,000 non-residential properties, warrants have been issued in just 359 cases, accounting for roughly 11.7% of arrears. A large share of high-value defaulters owing more than INR 5 lakh each remains outside strict recovery measures. With over INR 167 crore still untouched by warrant proceedings, concerns have emerged over the effectiveness of enforcement efforts.Read more

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House of Abhinandan Lodha appoints Kartik Aaryan as brand ambassador for Nagpur Marina waterfront project

08 Mar 2026

The House of Abhinandan Lodha (HoABL) has signed Bollywood actor Kartik Aaryan as the brand ambassador for Nagpur Marina, its flagship waterfront plotted development in Nagpur. The association builds on Aaryan's existing relationship with the developer, having earlier invested in a 2,000 sq ft plot at HoABL's Sol-de-Alibaug project. Nagpur Marina is positioned as a premium, destination-grade plotted development spread across 78 acres in South Nagpur, anchored by a man-made sea and beach. The project has already attracted significant interest from high-net-worth individuals, with over 350 families from more than 10 countries investing in the development. HoABL said the partnership reflects shared values of transparency, disciplined execution and long-term asset creation.Read more

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Nagpur Metro Phase 3 set to be India’s longest expansion with nearly 55 km network

Nagpur News Desk

14 Feb 2026

Nagpur Metro's Phase 3 expansion is poised to become the largest growth stage in the system's history, adding approximately 54.5-55 km of new lines and bringing the total network to around 129 km, sources said. The expansion plan, incorporated in Nagpur's Comprehensive Mobility Plan and now included in the Detailed Project Report (DPR) process, will feature four key corridors: a c. 25 km route along the Inner Ring Road and three additional links enhancing north-south connectivity and last-mile access to industrial and greenfield zones. Once completed, the extension will position Nagpur Metro among India's most extensive urban rail systems outside larger metropolitan markets. The DPR, expected within nine months, will determine final alignments, station locations and elevated or underground sections before phased construction begins after completion of Phase 2.Read more

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Nagpur Metro spurs multimodal growth zones under transit-oriented development framework

Nagpur News Desk

14 Feb 2026

The Nagpur Metro is catalysing the transformation of the city into multimodal urban growth zones, with authorities promoting high-density development around metro corridors as part of a broader transit-oriented development (TOD) strategy. The Maharashtra Metro Rail Corporation has initiated land use action plans to integrate mixed-use developments including commercial, residential and social infrastructure within about 500 metres of major metro stations. Officials overseeing the initiative said the approach aims to improve land-use efficiency, enhance last-mile connectivity and attract investment into integrated urban zones. Plans for new business districts, combined with strategic infrastructure such as ring roads and single-window approvals for land allotment, are expected to further position Nagpur as a hub for economic and residential growth centred on its expanding metro network.Read more

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Nagpur secures largest share of Maharashtra’s INR 381 crore urban infrastructure fund

Nagpur News Desk

24 Jan 2026

Nagpur district received the highest allocation from Maharashtra's recent urban infrastructure fund, amounting to over INR 72 crore from the total INR 381 crore earmarked statewide. This represents more than 85% of Vidarbha's share under the Centre-backed capital investment scheme for 2025-26. The funds will be used for development plan (DP) roads, cement concrete roads with sewer lines, and connectivity corridors linking residential and industrial areas. Other Vidarbha districts, including Yavatmal, Gondia, and Akola, received smaller allocations for civic works. The resolution emphasizes strict execution, audits, and timely reporting by local authorities.Read more

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Nagpur Metro Phase III to extend services to New Nagpur and Butibori MIDC

Nagpur News Desk

06 Jan 2026

Nagpur Metro's Phase III expansion plans have been finalised to extend connectivity to New Nagpur and the Butibori Industrial Area, aiming to strengthen public transport access for residents and businesses beyond the current network. The proposed extension represents a strategic move to integrate rapidly growing urban and industrial zones into the metro system, enhancing commuter convenience and reducing travel time. Officials said detailed planning is underway to align routes with projected demand, improve last-mile connectivity and support economic development. The Phase III extension is expected to address urban mobility needs, boost regional investment prospects and promote sustainable transportation across the Nagpur metropolitan area.Read more

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Zero Mile–Automotive Square road in Nagpur to be rebuilt with concrete

21 Dec 2025

Nagpur's road between Zero Mile and Automotive Square will be redeveloped using high-quality cement concrete to ensure it remains pothole-free for at least 25 years. The project, part of broader city road improvements, includes modern drainage systems, wider footpaths, and dedicated cycle tracks. Similar concrete upgrades are planned for the Poddareshwar Ram Mandir Pardi Square corridor. A 6.1 km Central Avenue stretch is also being upgraded. Additionally, a INR 560 crore flyover has been approved to ease congestion, while encroachment removal and planning corrections are being implemented to enhance long-term traffic flow and infrastructure durability.Read more

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Nagpur sees INR 2,980 crore civic infrastructure rollout ahead of municipal elections

18 Dec 2025

Nagpur has received a major infrastructure push with projects worth INR 2,980 crore being inaugurated and launched across the city and nearby Vidarbha areas. The works cover roads, drainage, sewage, water supply, footpaths and civic facilities, involving agencies such as the Nagpur Municipal Corporation, Nagpur Improvement Trust, Public Works Department, MahaMetro and MahaRail. The programme took place shortly before the State Election Commission announced municipal election dates, bringing attention to the scale of ongoing urban development and the focus on improving basic city infrastructure.Read more

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Kesar India expands in Nagpur with major land acquisition for high-rise project

02 Dec 2025

Kesar India Limited has purchased a 24,256 sq metre land parcel in Hingna, Nagpur, to develop a mixed use high-rise project spanning over 1.5 million sq ft, with projected revenue of around INR 900 crore. The acquisition reflects growing demand in Nagpur for integrated residential and commercial developments, driven by population growth, rising incomes, and infrastructure improvements such as the Samruddhi Expressway. The project aims to meet the needs of both residents and businesses. The move strengthens Kesar India's presence in one of Maharashtra's fastest-growing real estate markets.Read more

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Nagpur Municipal Corporation to auction 113 properties worth INR 141 crore

01 Dec 2025

Nagpur Municipal Corporation is set to auction 113 properties worth INR 141 crore to recover around INR 1.9 crore in unpaid property taxes. The auctions, scheduled between December 12 and January 16, cover properties in multiple zones including Sitabuldi, Lendra Park, Zingabai Takli, Gorewada, Indora, Borgaon, Mankapur, Ajni, Somalwada, Khapri, Pardi, Hiwri, Subhedar Layout, and Sakkardara. The initiative is part of NMC's ongoing strategy to enforce tax compliance and enhance municipal revenue, following previous auctions earlier this year targeting overdue payments from other properties.Read more

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NBCC wins INR 3,000-crore mandate to build Phase 1 of Naveen Nagpur township

26 Nov 2025

State-owned NBCC Ltd has received an order worth nearly INR 3,000 crore from the Nagpur Metropolitan Region Development Authority (NMRDA) for developing the initial phase of the Naveen Nagpur township project. The agreement, formalised earlier this week, covers the construction of the first segment of a 1,710-acre integrated township, marking one of the region's largest planned urban development initiatives. NBCC, which had signed an MoU with NMRDA earlier this year, has been appointed as the Executing and Implementing Agency as well as the Project Management Consultant.Read more

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Godrej Properties expands Nagpur presence with new 75-acre land acquisition

21 Nov 2025

Godrej Properties has purchased a 75-acre land parcel in Nagpur to develop a residential project focused mainly on plotted housing. With this acquisition, the company crossed its INR 20,000 crore annual new business development target for the current financial year. The upcoming project is expected to offer around 1.7 million sq ft of saleable area and generate an estimated INR 755 crore in revenue. This marks the developer's third land purchase in Nagpur in the last four years. The deal follows another acquisition in South Bengaluru announced a day earlier for a township project.Read more

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