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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.
The Nagpur Improvement Trust (NIT) is set to redevelop its Sanskrutik Sankul building, located opposite the NIT Swimming Pool on North Ambazari Road, into a modern 13-storey mixed-use complex. The project, modelled after the Gokulpeth Market redevelopment, will include both commercial and residential spaces. Advertisement
The existing building, which is currently a two-storey structure (G+1), houses 22 shops, a banquet hall, and the office of NIT's West Division. The redevelopment project will be executed through a Public-Private Partnership (PPP) model. After receiving approval from its board of directors, NIT has awarded the tender for the project and issued the work order. The redevelopment will take place on a prime one-acre plot adjacent to the MahaMetro Aqua Line, which qualifies the site for a higher Floor Space Index (FSI) of four.
The contractor selected for the project has agreed to pay NIT a premium of INR 120.46 million upfront after emerging as the highest bidder against a base price of INR 120 million. The developer will bear the full cost of construction, estimated to be around INR 200 million, bringing the total investment in the project to approximately INR 320 million. The upcoming complex will span a built-up area of over 1.75 lakh square feet on a 43,000 square feet plot. It will feature a basement and two floors dedicated to three-tier parking, followed by two floors for commercial establishments. Amenities will include a banquet hall and a starred hotel, while the upper floors will house residential units, which the developer will manage for sale or lease. Additionally, two floors will be allocated for NIT offices.
During the construction phase, existing shopkeepers will receive rental compensation and will be relocated to the new complex upon its completion. The project is still in its early stages, with the tender recently awarded. The timeline for demolishing the existing Sanskrutik Sankul building and starting construction has not yet been finalised. Meanwhile, NIT is handling multiple infrastructure projects across Nagpur, collectively worth over INR 3000 crore, with more projects under planning.
The redevelopment of Sanskrutik Sankul represents a significant transformation for the area. With its prime location and proximity to the Metro Corridor, the new complex aims to cater to both commercial and residential demands, enhancing the infrastructure of Nagpur. Further updates are awaited as the project progresses.
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