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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.
The Nagpur Municipal Corporation (NMC) has achieved a record-breaking land sale, transferring a 1.25 lakh square foot plot on Orange City Street for INR 235 crore. This transaction, at INR 18,784 per square foot, marks the highest per-square-foot rate in the city's history. The plot, designated as Plot No. 3, is slated for development into a premium commercial complex, underscoring the growing commercial appeal of the Orange City Street corridor. Advertisement
This sale is part of NMC's broader strategy to monetize land assets along Orange City Street to fund urban infrastructure projects. To date, the civic body has generated INR 561 crore through the sale of six plots in this corridor. Notably, Plot No. 1B, measuring 35,607.02 square feet and now housing the Orange City Mall, was sold for INR 45 crore at approximately INR 12,638 per square foot. Similarly, Plot 2A, spanning 36,229.39 square feet, fetched INR 42 crore at INR 11,593 per square foot.
The Orange City Street initiative aims to transform the area into a modern commercial and residential hub. Upcoming plots, such as 2B and 2C, are earmarked for hospitality-cum-commercial use, while Plot No. 6, covering 181,739.15 square feet, is designated for mixed residential and commercial development. The largest parcel, Plot No. 14, at 215,417.17 square feet, is planned as a convention center.
The record-setting sale of Plot No. 3 highlights the robust demand for prime commercial real estate in Nagpur and reflects investor confidence in the city's growth trajectory. As NMC continues to unlock the value of its land assets, the Orange City Street corridor is poised to become a focal point for commercial and residential development in the region.
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