The Nagpur Metropolitan Region Development Authority (NMRDA) has begun acquiring around 1,710 acres of land on Nagpur’s outskirts to establish the International Business and Finance Centre (IBFC).

The project will be modelled after Mumbai’s Bandra Kurla Complex (BKC) and Gujarat’s GIFT City. Part of the Rs 6,500 crore New Nagpur project, the IBFC alone is estimated to cost Rs 3,000 crore, with Rs 3,500 crore earmarked for land acquisition. Located at Godhani Ladgaon (Rithi) in Hingna, the project aims to position Nagpur as a major commercial hub over the next 15 years by promoting startups, MSMEs, IT firms, and corporate offices. A plug-and-play model will offer integrated infrastructure including utility tunnels, automated waste systems, and district cooling.

National Building Construction Corporation (NBCC) has been appointed as the project management consultant. Of the total land, 1,000 acres will house the business district, while 710 acre of land will be reserved for future expansion. NMRDA has invited landowners for direct negotiations, with a meeting scheduled for September 19 to streamline the acquisition process through mutual consent.