Maharashtra
International Business and Finance Centre (IBFC)
- 04 Sep 2025
- 2 min read
Why in News?
The Maharashtra cabinet has approved the land acquisition and expenditure provision for the International Business and Finance Centre (IBFC) in New Nagpur, with the goal of establishing the city as a key commercial and financial hub.
Key Points
- About: The IBFC will be developed on approximately 692.06 hectares of land in Godhani and Ladgaon villages, Hingna taluka, under the jurisdiction of the Nagpur Metropolitan Region Development Authority (NMRDA).
- Cost: The total project cost is estimated at ₹6,500 crore, including ₹3,000 crore for land acquisition and ₹3,500 crore for developing the business district and infrastructure.
- Financing for the project will be sourced through a loan from HUDCO, backed by a government guarantee, and the project is also exempted from stamp duty to facilitate development.
- The National Building Construction Corporation (NBCC) is appointed as the project management consultant.
- Features:
- The IBFC aims to create a world-class commercial hub focused on attracting knowledge-driven industries, startups, major corporate houses, and service sectors.
- Infrastructure plans include integrated smart utilities, “plug-and-play” facilities, green and inclusive urban planning, and a single-window clearance system for businesses.
- Impact:
- The project is expected to generate over 5 lakh jobs, making it one of Maharashtra’s most employment-intensive urban initiatives.
- It is envisioned to reduce congestion in existing city areas, retain local talent, and establish Nagpur as a prominent economic center at both the national and international level.
- The IBFC forms the core of the broader “New Nagpur” urban development vision, which includes upgraded city logistics such as a new outer ring road and dedicated transport terminals.
