NIT to give over 32-acre land for Smart City Project at market rate

15 Dec 2021 CW Team

Nagpur Improvement Trust (NIT) determined to give away its 32.39 acre land parcel for the Smart City Project at market rate.

After NIT violated the government's order, it has decided to adjust the cost of its land share of Rs 250 crore to be disbursed to the civic body for the Smart City Projects.

This decision was taken in a meeting, including the board of trustees. The Nagpur Municipal Corporation (NMC) has raised this issue with the state government.

NIT has 32.39 acres of land in mouza Bharatwada and Punapur, which comes under the Smart City Project. NMC has allotted the plots and flats to the landowners, who gave their land for building roads and gardens. The proposal is to allot land by taking 32.39 acres of land of NIT.

Chairman of NIT, Manoj Kumar Suryawanshi, said that the special purpose vehicle (SPV) of the project, Nagpur Smart and Sustainable City Development Corporation Limited (NSSCDCL) should take the land at the market rate. He said that the value of the land would be adjusted in the share given to NIT.

NIT decided to give the land at market rate and adjust the amount in its land share. The market rate of the land is around Rs 50-60 crore.

According to the NMC, mouza Pardi, Punapur, Bharatwada, and Bhandewadi come under the Smart City Project. It received approval from the government of Rs 750 crore for the land, and the remaining Rs 250 crore would be borne by NMC.

The government announced that NIT would give Rs 50 crore each year for five years from 2016. Till now, NIT has paid only Rs 100 crore for the project. It has decided to adjust the remaining land cost in its remaining share of Rs 150 crore.

According to NMC officials, NIT's delayed payment of Rs 150 crore is a violation of the government's order, and NIT cannot adjust the land value in its share.

Image Source

Also read: Nagpur Improvement Trust requests approvals for 500 plots
Also read: Nagpur Improvement Trust extends deadline for ground rent payment

Nagpur Improvement Trust (NIT) determined to give away its 32.39 acre land parcel for the Smart City Project at market rate. After NIT violated the government's order, it has decided to adjust the cost of its land share of Rs 250 crore to be disbursed to the civic body for the Smart City Projects. This decision was taken in a meeting, including the board of trustees. The Nagpur Municipal Corporation (NMC) has raised this issue with the state government. NIT has 32.39 acres of land in mouza Bharatwada and Punapur, which comes under the Smart City Project. NMC has allotted the plots and flats to the landowners, who gave their land for building roads and gardens. The proposal is to allot land by taking 32.39 acres of land of NIT. Chairman of NIT, Manoj Kumar Suryawanshi, said that the special purpose vehicle (SPV) of the project, Nagpur Smart and Sustainable City Development Corporation Limited (NSSCDCL) should take the land at the market rate. He said that the value of the land would be adjusted in the share given to NIT. NIT decided to give the land at market rate and adjust the amount in its land share. The market rate of the land is around Rs 50-60 crore. According to the NMC, mouza Pardi, Punapur, Bharatwada, and Bhandewadi come under the Smart City Project. It received approval from the government of Rs 750 crore for the land, and the remaining Rs 250 crore would be borne by NMC. The government announced that NIT would give Rs 50 crore each year for five years from 2016. Till now, NIT has paid only Rs 100 crore for the project. It has decided to adjust the remaining land cost in its remaining share of Rs 150 crore. According to NMC officials, NIT's delayed payment of Rs 150 crore is a violation of the government's order, and NIT cannot adjust the land value in its share. Image Source Also read: Nagpur Improvement Trust requests approvals for 500 plots Also read: Nagpur Improvement Trust extends deadline for ground rent payment

Infrastructure Transport

17 Sep 2025

Adani wins Kedarnath ropeway project to cut trek to 36 minutes

Adani Enterprises Ltd (AEL) has secured the contract to build a 12.9-km ropeway connecting Sonprayag with Kedarnath, a project expected to transform the pilgrimage experience. Awarded by National Highways Logistics Management Ltd (NHLML), the project will be executed under the National Ropeways Development Programme – Parvatmala Pariyojana.Currently, pilgrims undertake a gruelling nine-hour trek to Kedarnath. The ropeway will reduce this journey to just 36 minutes and can transport 1,800 passengers per hour in each direction, serving the nearly 20 lakh devotees who visit annually.The Rs 25,0..

Infrastructure Transport

17 Sep 2025

Gurugram Rapid Metro to shift from DMRC to GMRL control

The Haryana Mass Rapid Transport Corporation Limited (HMRTC) has begun the process of transferring Gurugram’s Rapid Metro operations from the Delhi Metro Rail Corporation (DMRC) to Gurugram Metro Rail Limited (GMRL). The decision was taken at HMRTC’s 62nd Board meeting, chaired by chief secretary Anurag Rastogi.Committees have been formed to oversee the transition, covering technical, legal, and operational aspects, with definitive timelines being prepared. Until the transfer is complete, the system will be managed jointly by DMRC and GMRL.The Rapid Metro has shown notable performance impr..

Infrastructure Transport

17 Sep 2025

Chandigarh Metro cost climbs to Rs 25,000 crore amid delays

The long-awaited Chandigarh Tricity Metro project has seen its estimated cost balloon to nearly Rs 25,000 crore, following delays in approvals by the Union Territory administration. The cost, which stood at Rs 23,263 crore in February 2025, has risen by Rs 1,737 crore in just seven months, according to officials.The matter was raised during the transport standing committee meeting of the Administrator’s Advisory Council, chaired by AAP state president Vijay Pal. A presentation by Rail India Technical and Economic Service (RITES) strongly recommended that the Metro is the most suitable mass r..