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 becomes first city in Maharashtra to issue TDR certificates to landowners of encroached plots

26 Sep 2025

Nagpur Municipal Corporation (NMC) has started issuing transferable development rights (TDR) certificates to private landowners whose plots were encroached by slum dwellers. The initiative, guided by Chief Minister Devendra Fadnavis, makes Nagpur the first city in Maharashtra to implement such a scheme. Landowners can monetise their rights through TDR sales, while slum families will soon receive government-approved leases. The move settles decades of disputes, provides legal and financial relief to property owners and residents, and follows the broader TDR practices used in Maharashtra's urban redevelopment.Read more

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Nagpur to launch dignified housing project for sanitation workers under Ambedkar Awas Yojana

13 Sep 2025

Nagpur Municipal Corporation is set to launch a housing project under the Dr. Babasaheb Ambedkar Awas Yojana, providing 392 two-bedroom flats of 500 sq. ft. each for sanitation workers at Mauja Nari. The INR 93 crore initiative has received DPR approval, with bhoomipuja expected soon. Alongside housing, the state has introduced reforms allowing educated children of sanitation workers to pursue jobs beyond sanitation roles. A COVID-19 memorial will also honor workers who lost their lives during the pandemic. Efforts are underway to regularize 4,407 sanitation workers before Diwali, supported by a new facial recognition attendance system to enhance monitoring.Read more

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NBCC to manage new 1,000-acre business district in Naveen Nagpur

10 Sep 2025

State-owned NBCC Ltd has entered into an agreement with the Nagpur Metropolitan Region Development Authority (NMRDA) to take forward the 'Naveen Nagpur' project. The understanding, signed in the presence of Maharashtra Chief Minister Shri Devendra Fadnavis, appoints NBCC as project management consultant for the development. The business district will span around 1,710 acres, with 1,000 acres earmarked for immediate use and 710 acres reserved for future expansion.Read more

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Maharashtra clears INR 6,500-crore plan to develop New Nagpur as a hi-tech hub

06 Sep 2025

The Maharashtra government has cleared the INR 6,500-crore New Nagpur project, aimed at setting up a hi-tech business and finance hub in Hingna taluka. Spread across 692 hectares in Godhni and Ladgaon, it will feature an International Business and Finance Centre and is being implemented by the Nagpur Metropolitan Region Development Authority (NMRDA) with NBCC (India) Ltd as consultant. Of the total outlay, INR 3,000 crore will be used for land acquisition and INR 3,500 crore for Phase I development, funded by a HUDCO loan backed by the state government.Read more

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Jupiter International to establish INR 10,900 crore integrated solar facility in Nagpur

22 Aug 2025

In a major move to expand its manufacturing footprint, photovoltaic solar cell manufacturer Jupiter International Ltd. has signed a memorandum of understanding (MoU) with the Maharashtra government to build a new integrated solar manufacturing facility in Butibori, Nagpur. The proposed project involves a substantial investment of around INR 10,900 crore and will cover the entire solar value chain, from wafer manufacturing to advanced solar cell and module production. This initiative is a key part of Jupiter International's long-term strategy to build a vertically integrated solar platform and contribute to India's renewable energy future.Read more

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NMC collects INR 11.4 crore in fines for illegal debris dumping in Nagpur

20 Aug 2025

Nagpur Municipal Corporation's Nuisance Detection Squad has been actively penalizing individuals and builders for illegal dumping of construction materials, such as sand, gravel, and cement, on public roads and footpaths. Despite imposing fines averaging INR 12.42 lakh per month, the issue persists, with certain zones like Laxmi Nagar and Hanuman Nagar recording the highest number of violations. The ongoing encroachment of public spaces continues to cause pedestrian inconvenience and traffic congestion.Read more

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NMC recovers only INR 300 crore as property tax defaulters rise to 4.6 lakh in Nagpur

07 Aug 2025

Nagpur Municipal Corporation (NMC) has recovered only a small fraction of its total property tax dues of INR 938.7 crore for FY 2024-25. While over 4.6 lakh properties are in default, just 106 were auctioned. Recovery through warrants, attachments, and notices also remained limited. Officials pointed to slow enforcement and low compliance. Even with partial collections, NMC has fallen short of the financial demands required to maintain civic services.Read more

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Nagpur Metro: New metro line from Sitabuldi to Koradi cleared under Phase 3

03 Aug 2025

Nagpur's Metro Phase 3 has received formal approval in a high-level meeting with CM Shri Devendra Fadnavis and Union Minister Shri Nitin Gadkari. MahaMetro and RITES have prioritised the 11.5 km Sitabuldi-Koradi corridor, featuring Nagpur's first underground stretch and expected to serve 1.47 lakh daily riders by 2054. A second route, Mankapur Chowk-Rachana Junction, will begin with bus services and may shift to metro later. The city's CMP spans 3,780 sq km and includes outer ring roads, electric buses, parking, and freight terminals. A feeder bus from Kasturchand Park will connect to key offices in Civil Lines and Sadar to ease last-mile travel and encourage metro use.Read more

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Nagpur flood risk grows as retaining wall work stalls across key river zones

28 Jul 2025

Flood risk is rising in parts of Nagpur-especially Pardi, Punapur, Kalamna, Wanjra, Wathoda, and Narsala-due to incomplete retaining walls along the Nag, Pili, and Pora rivers. Despite a INR 57 crore proposal under Maharashtra's flood mitigation program receiving in-principle approval, funds remain unreleased. Of an earlier INR 204.72 crore allocation, only INR 86.63 crore has been disbursed, stalling critical construction and contractor payments. Recent rains have already caused waterlogging, and a 2023 wall collapse near Ambazari dam sparked major damage and public outcry. The Nagpur civic body has appealed to the divisional commissioner, while residents have moved the Bombay High Court to demand urgent action.Read more

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Nagpur: NMC targets illegal use of public space, issues nearly 5,000 fines in six months

23 Jul 2025

Nagpur Municipal Corporation (NMC) has taken strong action against public space encroachments, penalising 4,890 individuals and contractors for leaving construction materials like sand and debris on footpaths and roads. The six-month campaign, led by Commissioner Abhijeet Chaudhari, covered all ten city zones and collected INR 1.16 crore in fines-INR 93.16 lakh from individuals and INR 23.20 lakh from builders. Laxmi Nagar saw the most violations. Under civic rules, materials left in public areas must be cleared within 48 hours or face fines of INR 2,000 (residents) and INR 10,000 (builders). Additionally, over 7,000 were fined for blocking roads with temporary structures. The drive aims to reclaim safe, usable public spaces.Read more

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Siemens to deploy CBTC signalling across 32 stations for Nagpur Metro Phase 2

14 Jul 2025

Siemens has secured two significant contracts from Maharashtra Metro Rail Corporation Ltd (MAHA-METRO), valued at approximately INR 773 crore, to provide cutting-edge signalling and telecommunication systems for the Nagpur Metro Rail Project Phase 2. Spanning a network of 43.8 kilometres with 32 stations, the orders cover the design to commissioning of Communication-Based Train Control (CBTC) and advanced telecommunication systems. The project execution timeline is set at 42 months and aims to enhance safety, efficiency, and passenger experience while supporting Nagpur's urban mobility goals.Read more

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Nagpur sees 28% rise in property tax collections after rebate scheme rollout

19 Jun 2025

The Nagpur Municipal Corporation (NMC) has seen a 28% jump in property tax collections this financial year, thanks to a rebate scheme encouraging early payments. By June 11, NMC collected INR 45.33 crore from 1.16 lakh property owners-up from INR 35.47 crore and 85,581 taxpayers in the same period last year. The scheme offers a 15% discount for online payments and 10% for offline ones made by June 30. Reduced rebates apply for payments until December 31. Laxmi Nagar zone led collections, while zones like Dhantoli and Gandhibagh lagged slightly. The increased revenue will help NMC strengthen city services and meet its annual tax targets.Read more

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Maharashtra inks INR 8,000 crore deal with Max Aerospace for helicopter unit in Nagpur

18 Jun 2025

The Maharashtra government has signed an MoU with Max Aerospace and Aviation to set up a INR 8,000 crore helicopter manufacturing unit in Nagpur. Work on the project is slated to begin in 2026, with the initiative expected to create around 2,000 jobs. This will be Maharashtra's first facility for complete helicopter production, marking a major milestone in India's defence manufacturing drive. The unit will incorporate global technology for integration, testing, and customisation of rotary-wing aircraft. Strategically located near Nagpur airport, the plant supports 'Make in India' and 'Aatmanirbhar Bharat' goals, boosting both local infrastructure and aerospace self-reliance.Read more

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Nagpur introduces property tax rebates for green-certified buildings to promote sustainability

21 May 2025

The Nagpur Municipal Corporation (NMC) has launched a new property tax rebate scheme designed to encourage environmentally sustainable construction across the city. This initiative provides tax discounts of up to 20% for buildings certified by the Indian Green Building Council (IGBC), reinforcing the city's efforts to tackle rising pollution and urban heat. The rebate applies in tiers, with Platinum-certified buildings receiving the highest reduction, followed by Gold and Silver levels. Property owners must apply with valid IGBC certification to avail these benefits, complementing existing incentives for eco-friendly building features such as solar energy and rainwater harvesting.Read more

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Nagpur's stamp duty collections fall 7% short of target for fiscal year 2024-25

19 May 2025

Nagpur's stamp duty collections for the fiscal year ending March 2025 fell 7% short of the target, collecting INR 1,675 crore against the projected INR 1,800 crore. The shortfall is linked to a slowdown in real estate deals and modest 4-5% increases in ready reckoner rates. Rural collections also missed targets by 3%. Despite this, officials are hopeful after recent ready reckoner hikes of up to 10% in some areas, which could boost future revenues. Nagpur Municipal Corporation faces further financial strain from undelivered property tax bills and low tax recovery, leading to a penalty waiver scheme. Improving collection efficiency is vital for the city's finances and infrastructure development.Read more

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Maharashtra slashes stamp duty to INR 1,000 for Nagpur Smart City rehabilitation homes

16 May 2025

A major reduction in stamp duty for homes given to families displaced by the Nagpur Smart City project was approved by the Maharashtra Cabinet earlier this week. The state has decided to charge only INR 1,000 as stamp duty for the registration of lease deeds for 28 homes in Mouza Punapur, part of the 'Home Sweet Home' rehabilitation scheme. Previously, stamp duty costs ranged between INR 40,000 and INR 45,000, putting a financial strain on the economically weaker beneficiaries. This decision is expected to ease the registration process and help families regain legal ownership of their new homes.Read more

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Asian Development Bank to support Nagpur in planning TOD zones around metro stations

09 May 2025

The Asian Development Bank (ADB) is collaborating with the Nagpur Municipal Corporation (NMC) to develop a comprehensive framework for Transit-Oriented Development (TOD) zones around key metro stations. This initiative aims to transform areas like Sitabuldi into vibrant commercial, entertainment, and mixed-use hubs, promoting walkability, enhancing public transport access, and encouraging sustainable, high-density development. ADB's technical assistance includes revising TOD policies, preparing detailed project reports, and suggesting policy-level modifications. A dedicated steering committee will oversee the project, ensuring coordination among various stakeholders.Read more

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Nagpur Land Deals: Orange City Street plot sold for INR 235 crore as NMC monetizes key land assets

08 May 2025

The Nagpur Municipal Corporation has set a new benchmark by selling a 1.25 lakh sq ft plot on Orange City Street for INR 235 crore-its highest-ever per sq ft rate at INR 18,784. The land, earmarked for a premium commercial complex, is part of NMC's monetization drive to fund infrastructure projects. So far, six plots have generated INR 561 crore, with rates steadily rising across sales. Strategically located and part of a growing commercial corridor, the Orange City Street initiative is attracting major investments, reinforcing Nagpur's emergence as a key urban and real estate hub in central India.Read more

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Nirmal Ujjwal Society fined INR 5 lakh for encroachment on public road in Nagpur

08 May 2025

The Nagpur bench of the Bombay High Court has ordered the Nirmal Ujjwal Credit Co-operative Society to demolish unauthorized structures-including a transformer, substation, and water treatment plant-built on a 24-meter-wide Development Plan (DP) road in Mouza Harpur, Umred Road. The court imposed a fine of INR 5 lakh, payable within a week to the Raman Science Centre, and gave four months for the structures to be removed. Citing violations of the Maharashtra Regional and Town Planning (MRTP) Act and earlier directives, the court rejected the society's justification and warned against setting a precedent that undermines public land use. If the society fails to act, the Nagpur Municipal Corporation must carry out the demolition.Read more

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