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 civic body sells prime plot in Orange City project

13 Nov 2024

The Nagpur Municipal Corporation (NMC) recently sold a prime plot in the Orange City Street project for INR 91 crore, surpassing expectations. This deal, finalized just ahead of the state assembly elections, follows previous sales that totalled INR 218.76 crore. Covering 75.34 acres, the project includes various designated zones, including plans for a vegetable and mutton market in the Laxmi Nagar area. To support this market's construction, the NMC has sought INR 128.51 crore in funding from the Maharashtra government. This successful initiative not only enhances local amenities but also serves as a model for other municipal corporations looking to utilize land assets for urban development.Read more

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RTI uncovers 63 obstructions Near Nagpur Airport, authorities work to resolve safety issues

25 Oct 2024

An RTI query has revealed that 63 buildings near Nagpur Airport continue to obstruct flight paths, down from a previous count of 68, after five structures were recently removed. Activist Abhay Kolarkar's request, filed with the Airports Authority of India (AAI), revealed that these obstacles also interfere with communication signals. Buildings in the airport's vicinity must comply with height restrictions based on a color-coded zoning system, with specific limits in the red zone. Some buildings can achieve compliance by removing minor rooftop structures, while others may require partial demolition. The list of obstructions has been forwarded to the Directorate General of Civil Aviation (DGCA) for further action.Read more

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Nagpur Metro Phase II advances with over 50% land acquisition completed

23 Aug 2024

Maharashtra Metro Rail Corporation Limited (MahaMetro) reports significant progress in Nagpur Metro Phase II, having acquired over 50% of the 9-hectare land required. With 80% of the land secured for construction, work on Reach 2, connecting Automotive Square to Kanhan, has commenced. The INR 6,708 crore project, funded by international institutions and government contributions, is set for completion by December 2027. The Khairi Phata casting yard is producing the 2,400 precast segments needed. Current ridership stands at over 80,000 daily, with a goal of 200,000 by 2025.Read more

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Nagpur faces safety crisis with 199 dilapidated buildings still standing

24 Jul 2024

A recent incident in Nagpur underscored a critical public safety issue: nearly 200 dilapidated buildings across the city pose significant risks. A partial collapse in Ganjipeth last month highlighted the urgency. Despite identifying 240 unsafe structures in pre-monsoon surveys, the Nagpur Municipal Corporation (NMC) has only demolished 41. This leaves 199 buildings, some still occupied, at risk. The Gandhibagh zone alone has 97 dilapidated buildings, with only six addressed. The NMC must enforce vacate orders, provide relocation support, and explore repair options to ensure residents' safety and prevent future tragedies.Read more

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RLDA's redevelopment project to modernise Nagpur Railway Station by 2025

15 Jul 2024

The Rail Land Development Authority (RLDA) is redeveloping Nagpur Railway Station in Maharashtra to transform it into a modern transportation hub capable of accommodating up to 98,000 passengers daily. The project includes creating dedicated arrival and departure areas, connecting platforms via separate foot over bridges, and constructing a spacious 108-meter-wide concourse with amenities and retail options. The west side will feature a multi-level plaza with a 3,420 sqm parking area, while the east side will have separate arrival and departure buildings with a 13,250 sqm unified basement for parking. The project is 33% complete and aims to preserve the station's heritage while modernizing its functionality. Completion is expected by December 2025.Read more

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Nagpur faces fire safety risks as over 1400 high-rises lack fire-safety clearance

14 May 2024

A recent data analysis by the Nagpur Municipal Corporation found that 1,459 out of 7,054 high-rise buildings over 15 meters in the city lacked mandatory fire safety no-objection certificates. Only 903 buildings had implemented necessary firefighting measures. The earlier Development Control and Promotion Regulations (DCPR) effective from December 2020 had raised the height limit requiring a fire NOC from 15 to 24 meters. However, recent amendments to the Maharashtra Fire Prevention and Life Safety Measures Act now mandate fire arrangements for all buildings above 15 meters. The Acting Chief Fire Officer has expressed concern over the safety risks and urged builders and occupants to comply with regulations by obtaining provisional clearance and installing required fire arrangements.Read more

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Nagpur launches its first C&D waste recycling plant to tackle waste management

PNT Reporter

18 Mar 2024

The Nagpur Municipal Corporation (NMC) has completed trials for its first construction and demolition (C&D) waste recycling plant at Bhandewadi dumping yard, set to process 150 metric tonnes daily. Operated by Hyderabad C&D Waste Pvt Ltd, the plant will produce five bio-products from C&D waste. It aims to cater to government agencies, individuals, and private organisations. The NMC has approached various government departments for using the by-products in development projects. The plant, operational for 20 years, will charge INR 414 per metric tonne, with fines for illegal dumping. Its inception aligns with NMC's policy to curb pollution and promote resource reuse, benefiting both public and private sectors.Read more

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Nagpur unveils ambitious plan for net-zero emissions by 2050

08 Mar 2024

Nagpur aims to achieve net-zero emissions by 2050 through India's first Zero Carbon Buildings Action Plan (ZCBAP), contributing to India's net-zero emission goal by 2070. The plan covers public, commercial, and residential buildings, focusing on reducing greenhouse gas emissions through building material choices, design, construction, management, and deconstruction strategies. Nagpur's buildings accounted for a significant portion of the city's energy consumption and greenhouse gas emissions. Developed by Nagpur Smart and Sustainable City Development Corporation Ltd (NSSCDCL) and Nagpur Municipal Corporation (NMC), in collaboration with various organizations, the plan emphasizes stakeholder engagement for a comprehensive and effective approach to sustainability.Read more

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Nagpur real estate sees an exceptional rise in home sales

06 Mar 2024

Nagpur's real estate market is exceeding national trends with a rise in home sales, indicating a shift in housing preferences. The primary market has seen a significant uptick, with residential unit sales rising from 1,383 in 2019-20 to 2,211 in 2023-24. However, unsold inventory is also on the rise, expected to reach 14,300 units by January 2024, valued at Rs 6,605 crore. Factors like infrastructure development and an influx of young professionals are driving this growth, with larger units like 3 and 4 BHK apartments gaining popularity. Southern localities like Manish Nagar and MIHAN are top choices for homebuyers, signaling a promising future for Nagpur's real estate sector.Read more

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Nagpur Municipal Corporation raises INR 18.63 crore through amnesty scheme

14 Feb 2024

The Nagpur Municipal Corporation's amnesty scheme yielded INR 18.63 crore as 25,879 property owners availed of the initiative, effective until March 31. The Urban Development Department revised the rebate scheme, reducing multiple penal interests for defaulters. Deputy Chief Minister Devendra Fadnavis announced the revamped scheme after a District Planning Committee meeting. With an 80% penalty waiver for tax defaulters paying dues in full, the NMC pardoned INR 4.63 crore for 25,879 defaulters. The initiative covers outstanding property taxes, water charges, and shop rents, allowing citizens to pay at NMC headquarters, zonal offices, or online platforms.Read more

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Fadnavis accelerates implementation of Rs. 668.72 Crore DPC plan in Nagpur for 2024-25

05 Jan 2024

Deputy Chief Minister Devendra Fadnavis urges rapid implementation of the District Planning Committee's (DPC) Rs. 668.72 crore plan for 2024-25 before the model code of conduct for upcoming elections. The DPC greenlighted the budget, including an additional demand of Rs. 1,431 crore, totalling Rs.2,100 crore for the district. Changes in financial criteria for rural gymnasiums and concerns over sports-related project materials are noted. A significant budget adjustment reduces funds for a self-help group mall, while Fadnavis enhanced emergency capabilities by providing 5 fire tenders and 11 SUVs through DPC funds.Read more

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Nagpur's MIHAN-SEZ asks DLF return allotted land over failure to execute plans

27 Dec 2023

Nagpur's MIHAN-SEZ has requested DLF and other companies, to return over 140 acres allotted in 2007 for an IT Park, citing the company's failure to initiate construction over 15 years. DLF was expected to develop IT towers, generating employment for 1 lakh people, but no progress has been made. Notices have been issued, urging DLF to submit a development plan. MIHAN, spanning 4,300 hectares, aimed for an IT boom, but competition from other cities hindered progress. SEZ authorities reveal 20% occupancy, 68% vacant land, and inactive units. MADC leased land to major IT companies, emphasizing the need for strategic development in Nagpur.Read more

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NHAI and DC MultiModal Park collaborate for Rs 673 Crore Multi-Modal Logistics Park in Nagpur

16 Dec 2023

The National Highways Authority of India (NHAI) has formalized an agreement with DC Multi Modal Park (Nagpur) to develop a Rs. 673 crore Multi-Modal Logistics Park (MMLP) in Nagpur, covering 150 acres. Aligned with the PM Gati Shakti National Master Plan, this project is a crucial component of the Bharatmala Project, aiming to enhance India's freight logistics sector. The strategic location, proximity to transportation hubs, and phased development approach underscore the significance of the Nagpur MMLP in fostering efficient multimodal connectivity and contributing to the broader vision of logistics infrastructure development in the country.Read more

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Violations in 1,848 structures revealed in Nagpur fire audit

07 Dec 2023

Nagpur Municipal Corporation's fire audit exposed serious safety lapses, identifying 1,848 high-rise and special buildings lacking firefighting measures, violating Maharashtra's fire safety laws. Among these, 1,286 were declared unsafe, prompting eviction notices. To enforce the eviction, authorities disconnected water and power to 821 buildings, with criminal cases filed against 122 building owners. The audit also revealed alarming data that of the 5,595 buildings, only 903 obtained fire compliance certificates. The police are instructed to act, while district court cases highlight violations, primarily related to missing firefighting arrangements and unauthorized constructions. The situation underscores the critical need for stringent fire safety measures.Read more

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NMC cracks down on property tax defaults, attaches 225 plots in Nagpur

01 Dec 2023

The Nagpur Municipal Corporation (NMC) has intensified its crackdown on property tax defaulters by attaching 225 vacant plots in the Hanuman Nagar zone, totalling Rs 45.52 lakh in defaults. The affected plots include those owned by Shewanta Co-operative Housing Society Limited, Suvikas Co-operative Housing Society Limited, and Gangotri Developers, all located in the Hudkeshwar area. This action follows earlier notices and warrants issued by the NMC to property owners, emphasizing the municipality's commitment to enforcing property tax regulations and recovering outstanding dues.Read more

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NMC undertakes extensive recovery drive to collect Rs 400 crore in unpaid taxes

28 Nov 2023

The Nagpur Municipal Corporation (NMC) is undertaking an extensive recovery drive to address financial challenges exacerbated by defaults in property tax payments. The corporation aims to earn Rs 300 crore in property taxes for the current financial year and has already added Rs 150 crore to its exchequer as of November 20. To boost collection efforts, the NMC has initiated property attachments and public auctions, utilizing legal provisions to recover outstanding arrears. The proactive approach underscores the municipality's commitment to achieving revenue targets and addressing financial constraints. Zone assistant commissioners have been directed to expedite proceedings for property tax recovery warrants issued to defaulters.Read more

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Nagpur Municipal Corporation seizes five properties for Rs 28 lakh tax non-payment

23 Nov 2023

In a recent move, the Nagpur Municipal Corporation (NMC) has taken stringent action against property tax defaulters in the Mangalwari zone. The NMC has attached five open plots in Gorewada, Hazaripahad, and Borgaon to recover Rs 28 lakh in unpaid property taxes. Assistant Municipal Commissioner Prakash Warade issued seizure warrants against 15 property tax defaulters, prompting 10 property owners to settle their dues promptly. However, five property owners who owed a cumulative amount of Rs 28 lakh had their properties collectively attached. The seized properties will be auctioned to recover the outstanding tax amount, reinforcing the municipality's commitment to enforcing tax compliance.Read more

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Nagpur Municipal Corporation grapples with surge in construction material dumping

17 Nov 2023

Dumping of construction materials on Nagpur's footpaths and roads has more than doubled in the last six years, signalling increased encroachment on public spaces. In 2018, Nagpur Municipal Corporation fined 4,747 people (individuals and builders) Rs 77.46 lakh for such violations. By October 2023, this surged to 8,428 people penalized, with fines totalling Rs 1.92 crore. Concerns were raised by the Commissioner of Police, noting risks to motorists. Ashi Nagar zone experienced the highest violations. Despite regulations mandating permission from the municipal department, these practices persist.Read more

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Nagpur metro phase-II progress hindered by pending land acquisition proposals

04 Nov 2023

Nagpur District Collector Vipin Itankar conducted a meeting to expedite the land acquisition process for the second phase of the Nagpur Metro project. The meeting addressed several pending land acquisition proposals and emphasised the need for timely planning to avoid delays. Itankar instructed the revenue department to ensure prompt disposal of all acquisition proposals and encouraged better coordination between the revenue department and the Metro for quicker results. Additionally, discussions with the defence department about land issues on Wardha Road were urged. The Metro project aims for completion by 2024 but has been hindered by lingering land acquisition proposals.Read more

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Godrej Properties faces legal challenge over Nagpur land deal

13 Oct 2023

Godrej Properties, already grappling with legal disputes over a Rs227 crore land deal in Nagpur, now confronts a second lawsuit. The latest suit invokes the Mental Health Act, alleging that a landowner with unsound mind had their share sold without due process. This comes after an earlier case citing Muslim personal law provisions. With hearings set for October 25, the realty giant's Nagpur venture faces increasing legal complexity. Meanwhile, Godrej Properties recently struck a separate Rs350 crore land deal in the region, adding to the intrigue surrounding its operations in Nagpur.Read more

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