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 faces INR 938 crore property tax shortfall as default rate crosses 67%

08 May 2025

The Nagpur Municipal Corporation (NMC) is grappling with a significant financial shortfall, as property tax arrears have escalated to INR 938 crore by the end of the 2024-25 fiscal year. Despite collecting approximately INR 318 crore, the civic body faces a compliance gap, with over 67% of property owners defaulting. Zones like Ashi Nagar, Mangalwari, and Laxmi Nagar are the most affected, collectively accounting for nearly half of the total dues. In response, NMC has initiated an amnesty scheme offering an 80% waiver on penalties and is intensifying recovery efforts, including property seizures and legal actions.Read more

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Nagpur Housing: NMC to build 2,500 homes under Ramai Housing Scheme in FY 2025-26

06 May 2025

The Nagpur Municipal Corporation (NMC) plans to build 2,500 new houses in 2025-26 under the Ramai Housing Scheme, which aims to support Scheduled Castes and Neo-Buddhists by providing affordable housing. So far, 5,795 families have benefitted, with INR 112.40 crore spent out of the INR 142.43 crore sanctioned. Under the scheme, families with an annual income of up to INR 3 lakh are eligible for a subsidy of INR 2.5 lakh towards construction. Around 1,500 new beneficiaries were added this year. Ashi Nagar has recorded the highest number of beneficiaries. In January 2024, NMC received about 2,500 new applications.Read more

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NIT seeks NMC takeover of 185 developed Gunthewari layouts in Nagpur

06 May 2025

In a push to improve civic services, the Nagpur Improvement Trust (NIT) has proposed the transfer of 185 developed Gunthewari layouts to the Nagpur Municipal Corporation (NMC) for maintenance. Despite two reminders, NIT is awaiting a formal response from NMC. Residents in these areas face issues like poor road upkeep and garbage collection due to the delayed handover. Under the Gunthewari Act, NIT developed basic infrastructure in these layouts, but long-term maintenance falls under NMC's responsibility. With 406 more layouts nearing completion, the transfer marks a move toward streamlined urban governance and improved service delivery through unified municipal oversight.Read more

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Nagpur: NIT defends compliance with HC directives in Gunthewari layout plot regularisation

25 Apr 2025

Earlier this week, the Nagpur Improvement Trust (NIT) reaffirmed its compliance with the Bombay High Court's directives on the regularisation of plots in the Gunthewari layout. NIT clarified that the open space requirements under the Maharashtra Regional and Town Planning (MRTP) Act do not apply as the layout is regularised under the Gunthewari Act of 2001. The case concerns the regularisation of five plots in Raghvendra Griha Nirman Sahakari Sanstha, Mouza Manewada, challenged by the Chinchmalatpure Nagar Nagrik Kruti Samiti, with construction already underway. NIT stressed adherence to legal provisions and earlier court orders that upheld individual rights of plot holders.Read more

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Nagpur's civic body earns record INR 414.52 crore through town planning receipts

22 Apr 2025

The Town Planning Department of the Nagpur Municipal Corporation (NMC) reported its highest-ever revenue collection of INR 414.52 crore in the 2024-25 fiscal year. The majority of this income came through digital channels, with INR 376 crore received online. Key contributors to this milestone included premium charges for exclusions from FSI calculations, transit-oriented development premiums, and building development charges. The department's digital-first approach not only enhanced transparency and efficiency but also played a crucial role in boosting revenue. This development reflects the growing pace of urbanisation and structured development in Nagpur.Read more

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Nagpur to get luxury hotels from Taj, Hyatt, Hilton amid INR 6,100 crore investment inflow

28 Mar 2025

Nagpur will soon host luxury hotels from Taj Gateway, Hyatt, and Hilton, following MoUs signed as part of over INR 6,100 crore worth of investments by more than 150 companies targeting projects in the district. The three hotel projects alone will bring INR 875 crore, with INR 400 crore earmarked for Taj, INR 300 crore for Hyatt, and INR 175 crore for Hilton. This initiative, part of a district-wide investment push, also includes proposals for four additional hotels and various industrial projects, ranging from MSMEs to large-scale units. Other major investments include over INR 1,100 crore by Xolopak India Limited for sustainable packaging units in Gondia and Nagpur, and a facility by Inventys Research to produce pharmaceutical input substitutes, reducing dependence on imports from China.

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Nagpur homeowners struggle with delays in Gunthewari land regularization

18 Mar 2025

The Gunthewari Act's land regularization process in Nagpur has left over 1.5 lakh homeowners in limbo, facing bureaucratic hurdles and financial burdens. A major concern is the requirement to surrender 10% of land to NMRDA, delaying approvals. NIT has rejected 43,500 applications, citing zoning restrictions, while continuing to collect fees. Amid rising pressure, Deputy CM Shri Eknath Shinde has formed a high-level committee to streamline the process. Calls for NIT's dissolution and merger with NMRDA are gaining traction. Similar issues in Pune and Mumbai highlight nationwide challenges in land regularization, making this committee's recommendations crucial for reform.Read more

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Nagpur residents raise urban development issues at Lokshahi Din hosted by NIT and NMRDA

17 Feb 2025

The Nagpur Improvement Trust (NIT) and Nagpur Metropolitan Region Development Authority (NMRDA) held a Lokshahi Din to address citizens' grievances on urban development. Around 15 residents attended, raising concerns over layout development, property regularization, and lease agreements. A key issue highlighted was the lack of infrastructure in Zingabai Takli, where 400-500 plot owners still await roads, sewage systems, and recreational spaces despite regularization. Officials assured action within days. While the initiative aims to enhance transparency and civic engagement, the low turnout signals a need for better outreach. As Nagpur expands, authorities are urged to prioritize sustainable urban planning and ensure timely execution of infrastructure projects.Read more

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Nagpur division to implement drone-based land surveys under Svamitva Scheme

11 Feb 2025

The Nagpur division will conduct drone surveys across 6,116 villages under the central government's SVAMITVA scheme to issue property cards using geo-tagging technology. This initiative, covering nearly 20% of Maharashtra's participating villages, aims to modernize rural land records. With 4,447 villages completing final reviews, the scheme has already generated INR 12.96 crore in revenue, with total projections reaching INR 33.74 crore. Nagpur leads in surveys, followed by Gadchiroli and Chandrapur. With 407 camps set up to facilitate the process, the initiative is expected to reduce land disputes and empower rural communities with formal property documentation.Read more

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Nagpur civic body faces INR 234 crore property tax shortfall, launches amnesty scheme

10 Feb 2025

The Nagpur Municipal Corporation (NMC) has collected only INR 194.47 crore in property tax as of January 29, falling short of its INR 429 crore target by INR 234.52 crore. To manage funding for infrastructure projects, NMC has taken a INR 500 crore loan. An amnesty scheme launched on January 1 offers an 80% waiver on penalties and interest on INR 770 crore in arrears, aiming to boost collections before the fiscal year ends. With uneven tax recovery across zones, stricter enforcement measures, including property attachments, may follow if collections remain low, raising concerns over the city's financial stability.Read more

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Nagpur: NMC offers 80% waiver on INR 770 crore property tax penalties under amnesty scheme

24 Jan 2025

The Nagpur Municipal Corporation (NMC) is grappling with a massive property tax arrears issue, with state government departments emerging as some of the largest defaulters. According to data from NMC's property tax department, the total outstanding property tax has reached a staggering INR 850.1 crore as of December 31, 2024. Government departments alone owe INR 83.74 crore in arrears, with an additional INR 10.06 crore for the current financial year, taking their total liability to INR 93.81 crore.Read more

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Process to clear land for Nagpur airport expansion gains pace with demolition drive in Shivangaon village

21 Jan 2025

The Maharashtra Airport Development Company (MADC) has intensified efforts to clear land in Shivangaon village for the proposed expansion of Nagpur airport, which includes the construction of a second runway. This drive, expected to conclude within a month, involves demolishing homes that are in the way of the runway. Though compensation was provided in the form of land and cash to displaced residents, many locals claim it was insufficient to rebuild their homes. As demolitions continue, some villagers are salvaging materials from their old homes for use in their new ones at Chinchbhuvan.Read more

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Nagpur: Sanskrutik Sankul all set to redevelop into a commercial-cum-residential 13-storey complex

14 Jan 2025

The Nagpur Improvement Trust (NIT) plans to redevelop its Sanskrutik Sankul building on North Ambazari Road into a 13-storey mixed-use complex, combining commercial and residential spaces. The project, executed under a Public-Private Partnership (PPP) model, will be constructed on a one-acre plot adjacent to the MahaMetro Aqua Line, benefiting from a higher Floor Space Index (FSI). The developer has agreed to pay a premium of INR 120.46 million, with construction costs estimated at INR 200 million. The complex will feature parking, commercial spaces, a banquet hall, a starred hotel, and residential units. NIT will retain two floors for office use, with shopkeepers compensated and relocated.Read more

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Nagpur Municipal Corporation collects INR 162.45 crore through property tax rebate scheme

10 Jan 2025

Nagpur Municipal Corporation's (NMC) property tax rebate scheme, which ran from July to December 2024, successfully collected INR 83.6 crore from 163,813 property owners, with a total fiscal collection of INR 162.45 crore so far. Offering 10% rebates for online payments and 5% for offline payments, the initiative aimed to boost compliance. Despite participation from 322,000 taxpayers, 417,000 property owners missed the deadline and now face a 2% monthly interest penalty. NMC, targeting INR 350 crore this fiscal year, urges defaulters to settle dues promptly to fund city infrastructure. Nehru Nagar led payments with INR 10.89 crore, while Dharampeth lagged at INR 4.7 crore.Read more

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Nagpur offers 80% penalty waiver under property tax amnesty scheme for 2025

09 Jan 2025

Nagpur Municipal Corporation (NMC) launched a Property Tax Amnesty Scheme, offering an 80% waiver on penalties and interest from January 1 to March 31, 2025. With outstanding property taxes of INR 850.1 crore and INR 770.45 crore in fines, the scheme targets compliance among 286,399 defaulters. Led by commissioner Abhijeet Chaudhari, NMC aims to recover INR 200 crore during this period. Critics question its timing before civic elections, but supporters highlight the financial relief it offers. Payments made post-deadline won't qualify, urging defaulters to act promptly. The initiative is a pivotal step in balancing municipal revenue generation with public support.Read more

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Nagpur municipal corporation urges citizens to utilise property tax rebate scheme

01 Jan 2025

The Nagpur Municipal Corporation (NMC) is urging property owners to take advantage of its property tax rebate scheme before the upcoming deadline. Those who pay their full property tax for FY 2024-25 online will receive a 10% rebate, while offline payments qualify for a 5% rebate. The initiative, introduced under the guidance of Municipal Commissioner Abhijeet Chaudhari, has seen a positive response. Meanwhile, NMC has taken action against defaulters, issuing notices and attaching properties valued at INR 2.75 crore, granting a 21-day window for dues clearance.Read more

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Nagpur Metro: Phase II to expand network by 43.8 km, enhancing city connectivity

Vidhi Sangoi

24 Dec 2024

The Nagpur Metro is a transformative public transit project managed by Maha-Metro, enhancing mobility in Nagpur, Maharashtra. Phase I features two lines: the Orange Line (19.65 km) connecting Automotive Square to Khapri and the Aqua Line (18.55 km) from Prajapati Nagar to Lokmanya Nagar, forming a 38.2 km network with 36 stations. Fully operational since December 2022, it has improved urban connectivity. Phase II, adding 43.8 km and 32 stations, aims to expand access to suburban and industrial areas at an estimated cost of INR 6,708 crore.Read more

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Maharashtra government partners with ADB for Nagpur Metro phase II funding

24 Dec 2024

The Maharashtra government has teamed up with the Asian Development Bank (ADB) to get INR 1,527 crore in finance for phase II of the Nagpur Metro project. Signed earlier this month, the deal aims to improve connectivity in Nagpur and the surrounding territories. The total funding for this phase is INR 3,586 crore, with contributions from ADB and the European Investment Bank. The project, which spans 43.8 kilometers across four routes, is intended to serve roughly one million citizens by promoting efficient transit and regional development.Read more

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Supreme Court summons Nagpur officials over registration dispute in Nirmal Nagari Project

PNT Reporter

10 Dec 2024

The Supreme Court has summoned the Nagpur collector and tehsildar on December 19 over delays in resolving a dispute involving the Nirmal Nagari township's registration under MahaRERA. The developer, Nirmal Ujjwal Credit Cooperative Society Limited, faces allegations of unethical practices, unauthorized construction, and refusal to register the 944-home, 17.4-acre project, leaving buyers unable to register sale deeds. MahaRERA had fined the developer INR 6 crore, and the NMC denied a completion certificate. Represented by Nirmal Nagari Condominium, residents demand accountability and resolution. The court emphasized the urgency of safeguarding consumer rights in housing projects, setting the next hearing for December 19.Read more

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Nagpur makes history with the launch of India's first four-level flyover on Kamptee Road

18 Nov 2024

Nagpur has inaugurated Asia's first four-tier flyover, featuring a Metro line, vehicular flyover, railway line, and road stacked in layers near Gaddigodam Gurudwara on the National Highway. Built jointly by MahaMetro and NHAI, the 5.6-kilometre Kamptee Road flyover links LIC Square and Automotive Square, costing INR 573 crore. Completed despite challenges, it reduces travel time between Kamptee and Nagpur Airport to 20 minutes. The project highlights Nagpur's pioneering infrastructure, which enhances urban connectivity and reduces congestion. This innovative design serves as a model for multi-tiered transit solutions, influencing future urban projects across India.Read more

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