HUDCO Signs MoU with NMRDA to Provide ₹11,300 Crore Funding for Nagpur Infra Projects

The Housing and Urban Development Corporation (HUDCO) has entered into a non-binding MoU with the Nagpur Metropolitan Region Development Authority (NMRDA) to provide up to ₹11,300 crore over the next five years for land acquisition, housing, and infrastructure development in the region, according to an exchange filing on September 8. Under the partnership, HUDCO will also offer consultancy services and capacity-building support to NMRDA. The MoU was signed in the presence of Chief Minister Devendra Fadnavis, Deputy CM Eknath Shinde, and HUDCO CMD Sanjay Kulshrestha. This development comes soon after the Maharashtra government cleared the ₹6,500 crore ‘New Nagpur’ project, aimed at creating a hi-tech business hub in Hingna along the Nagpur–Mumbai Expressway. For the project’s first phase, NBCC has been appointed as consultant. Aligned with the state’s Maharashtra 2047 vision plan, the projects are expected to boost Nagpur’s transformation into a corporate and knowledge-based hub, drawing parallels with Hyderabad and Bengaluru. HUDCO, which disbursed ₹1.27 lakh crore in FY25, is looking to further expand its loan book this year. #HUDCO #Nagpur #UrbanDevelopment #Infrastructure #Housing #Maharashtra2047 #NewNagpurProject