+
NIT to Redevelop Sanskrutik Sankul into 13-Storey Complex
Real Estate

NIT to Redevelop Sanskrutik Sankul into 13-Storey Complex

The Nagpur Improvement Trust (NIT) has unveiled plans to redevelop its Sanskrutik Sankul property on North Ambazari Road into a 13-storey mixed-use commercial and residential complex. This project will be carried out through a Public Private Partnership (PPP) model, with the contractor being the highest bidder, offering an upfront payment of Rs 1.20 billion to NIT. The construction costs are expected to total approximately Rs 3.20 billion, including the premium paid.

The complex will be built on a plot of around 43,000 square feet and will feature over 1.75 lakh square feet of built-up space. The development will include commercial offices, residential units, parking facilities, and a starred hotel. Additionally, NIT’s office will be accommodated in the new building, and existing shopkeepers will be relocated to the new structure once completed.

The development is strategically located near the Metro Corridor, which will offer enhanced connectivity and ensure high demand for the commercial and residential spaces. The developer will also be responsible for setting rental or sale prices for the units. This project follows the success of similar redevelopment projects, such as the Gokulpeth Market redevelopment, positioning the Sanskrutik Sankul project as a significant addition to the region’s infrastructure landscape.

The Nagpur Improvement Trust (NIT) has unveiled plans to redevelop its Sanskrutik Sankul property on North Ambazari Road into a 13-storey mixed-use commercial and residential complex. This project will be carried out through a Public Private Partnership (PPP) model, with the contractor being the highest bidder, offering an upfront payment of Rs 1.20 billion to NIT. The construction costs are expected to total approximately Rs 3.20 billion, including the premium paid.The complex will be built on a plot of around 43,000 square feet and will feature over 1.75 lakh square feet of built-up space. The development will include commercial offices, residential units, parking facilities, and a starred hotel. Additionally, NIT’s office will be accommodated in the new building, and existing shopkeepers will be relocated to the new structure once completed.The development is strategically located near the Metro Corridor, which will offer enhanced connectivity and ensure high demand for the commercial and residential spaces. The developer will also be responsible for setting rental or sale prices for the units. This project follows the success of similar redevelopment projects, such as the Gokulpeth Market redevelopment, positioning the Sanskrutik Sankul project as a significant addition to the region’s infrastructure landscape.

Next Story
Infrastructure Transport

Chandigarh-Ambala Greenfield Corridor Nears Completion

The Rs 31.67 billion Chandigarh-Ambala Greenfield Corridor, spanning 61.23 km over 395 hectares, is nearing completion and is set to transform traffic movement across Chandigarh, Zirakpur, Panchkula, Mohali and Kharar. The six-lane expressway will also strengthen links from Delhi and Haryana to Chandigarh, Punjab, Himachal Pradesh, and Jammu & Kashmir.Progress and TimelinesPackage-2, covering 31.23 km from IT City Chowk in Mohali to Kurali on the Kurali-Siswan road, is 95 per cent complete and scheduled to open next month. Package-1, stretching 30 km from Devinagar village on the Ambala-Hi..

Next Story
Infrastructure Transport

Low Fine Recovery From Mumbai-Pune Expressway E-Challans

The Maharashtra Transport Department has revealed that 27.76 lakh e-challans worth Rs 4.7 billion were issued for traffic violations on the Mumbai-Pune Expressway since the rollout of the Intelligent Traffic Management System (ITMS) in July 2024. However, only Rs 470 million in fines—around 10 per cent of the total—has been recovered to date.Breakdown of ViolationsOfficial data shows that cars were responsible for the majority of speed limit breaches, with over 17.2 lakh e-challans issued. Heavy goods vehicles accounted for 3.27 lakh challans, heavy passenger vehicles such as buses for 2.4..

Next Story
Infrastructure Energy

Cabinet Clears Rs 81.46 Billion Tato-II Hydro Project

The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has approved an investment of Rs 81.46 billion for the construction of the Tato-II Hydro Electric Project (HEP) in Shi Yomi district, Arunachal Pradesh. Scheduled for completion in 72 months, the 700 MW project (4 x 175 MW) will generate 2,738.06 million units of energy annually, strengthening both the state’s power supply and the national grid.Implementation and FundingThe project will be executed through a joint venture between North Eastern Electric Power Corporation Ltd (NEEPCO) and the Government of Arun..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?