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In a major boost to Maharashtra’s urban development ambitions, Housing and Urban Development Corporation Ltd (HUDCO) has signed a Memorandum of Understanding (MoU) with the Nagpur Metropolitan Region Development Authority (NMRDA) to provide financial assistance of up to ₹113 billion for infrastructure projects in the Nagpur region. The agreement marks one of the largest funding commitments by HUDCO in recent years and is expected to catalyze transformative growth across transport, housing, and civic amenities.
Key Highlights
HUDCO to extend up to ₹113 billion in financial support for Nagpur-centric infrastructure projects
MoU signed with NMRDA, the statutory planning and development body for the Nagpur Metropolitan Region
Funds will be deployed across metro rail expansion, affordable housing, water supply, and road connectivity
The initiative aligns with Maharashtra’s broader urban renewal strategy and Smart Cities Mission
The funding will be structured through long-term loans and project-specific financial instruments, enabling NMRDA to accelerate execution timelines and scale its development footprint. With over 7,800 hectares earmarked for planned urban expansion, the partnership is expected to unlock new residential zones, commercial hubs, and transit corridors.
HUDCO’s involvement also brings technical expertise in urban planning, project appraisal, and sustainable infrastructure design. The collaboration is seen as a model for other metropolitan regions seeking to blend state-led planning with institutional financing.
The MoU was signed in the presence of senior officials from HUDCO and NMRDA, including representatives from the Maharashtra Urban Development Department. Implementation will begin in phases starting Q4 FY26, with priority given to water supply and metro connectivity.
Sources: Nagpur Metropolitan Region Development Authority, CARE Ratings Report on NMRDA
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