HUDCO to provide up to Rs 11,300 crore for infrastructure projects in Nagpur over five years

HUDCO signs MoU with NMRDA to explore funds up to Rs 11,300 crore over five years, along with consultancy and capacity-building support.

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26 Aug, 2025 12:21

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Housing and Urban Development Corporation, or HUDCO has agreed to provide the Nagpur Metropolitan Region Development Authority (NMRDA) with a funding of up to Rs 11,300 crore over five years to acquire land for housing projects and to develop infrastructure in the region, an exchange filing said on September 8.

"The non-binding MoU has been entered to establish robust collaborative working partnership between HUDCO and NMRDA wherein HUDCO shall explore and provide funds up to Rs 11,300 crore over a period of five years, for land acquisition, housing, and development of Infrastructure Projects in Nagpur Metropolitan Region," said the urban development company.

HUDCO will also extend consultancy services as well as undertake capacity building activities to meet the emerging requirements of NMRDA.

The MoU was signed in the presence of Chief Minister Devendra Fadnavis, Deputy Chief Minister Eknath Shinde, and Sanjay Kulshrestha, Chairman & Managing Director of HUDCO.

Just last week, the state government had cleared a Rs 6,500 crore 'New Nagpur' project - for land acquisition and development of Phase 1 - to create a business hub in the Hingna district, aiming to transform the city into a hi-tech hub on the lines of Hyderabad and Bengaluru, for which NMRDA has appointed NBCC as a consultant. The New Nagpur project is on the outskirt of the city, along the main Nagpur to Mumbai Expressway.

On the lines of Viksit Bharat, Maharashtra has come out with a vision plan - Maharashtra 2047 - to develop towns such as Nashik, Nagpur and Pune. The project aims to develop corporate infrastructure in the city and attract knowledge-based industries along with a startup ecosystem, aiming to create employment.

HUDCO has last fiscal disbursed Rs 1.27 lakh crore and is looking to increase that figure this year.