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Raipur April 25, 2025: After repaying a loan of Rs 1788 crore, Nava Raipur Atal Nagar Vikas Pradhikaran (NRANVP), formerly known as NRDA, is now completely debt free.
The Authority has repaid the entire loan of Rs 1788 crore, which was taken from the Government of India and several nationalised banks. Along with this, the government guarantee of Rs 100 crore has also now been returned to the Chhattisgarh government, official sources said today.
The credit for this achievement goes to the policies, financial discipline and transparent administration of Chhattisgarh Chief Minister Vishnu Dev Sai, officials said. This move will help Nava Raipur in infrastructure development and implementation of new projects, they added.
Nava Raipur, the modern and planned capital of Chhattisgarh, had taken a large amount of debt for its development. This loan was for land acquisition, construction of roads, government buildings and educational institutions like Hidayatullah National Law University.
However, the debt burden and interest payments had affected the cash flow of the Authority. Under the leadership of Chief Minister Sai, the Chhattisgarh government, emphasising on financial self-reliance, implemented such policies that increased the income of the authority and paved the way for getting rid of debt, they said.
The Chief Minister has expressed happiness over this achievement and said that Nava Raipur Atal Nagar being debt-free is a pleasant sign.
“Our government, through financial discipline, transparency and strategic planning, ensured that the authority not only becomes debt-free, but also becomes self-reliant and touches new heights of development. This achievement reflects our commitment to make Nava Raipur a modern, employment-oriented and facility-rich city,” the Chief Minister said.
The policies of the Chhattisgarh government promoted the commercial use of the assets of the authority. Projects like Medicity, Pharmaceutical Park, Bhoomi Pujan of the semiconductor plant of the country’s renowned Polymatech Company and the initiative to establish the National Institute of Fashion Technology attracted private investment.
Chhattisgarh government has made a provision of Rs 1043 crore for the Nava Raipur Atal Nagar Vikas Pradhikaran in the third supplementary budget of the year 2024-25 and allocated additional funds for industrial areas, which strengthened the sources of income.
In addition, the relief to traders under the Chhattisgarh Settlement of Outstanding Tax, Interest and Penalty (Amendment) Ordinance-2025 boosted economic activities, which indirectly benefited the Nava Raipur Development Authority.
With the debt relief, all the assets of the authority are now free of encumbrances, which will make their use and sale easier. This will improve cash flow and infrastructure, public services and new projects can be implemented faster.
The Chief Minister said that this step will make Nava Raipur a center of medical tourism and industrial development. Citizens will get better facilities and new employment opportunities will be created at the local level.
This achievement of Nava Raipur Atal Nagar Vikas Pradhikaran is an outstanding example of financial discipline and strategic planning. This is exemplary for other urban development authorities of the country, he said.
Chief Minister Sai said that the goal is to make Nava Raipur not only the glorious capital of Chhattisgarh, but also to establish it as a model city for the country.
Chhattisgarh Finance Minister OP Choudhary said that Nava Raipur is going to become the new growth engine of Chhattisgarh’s economy. Today, many institutions like RBI, NABARD and other banks and NTPC regional offices, Balco Cancer Hospital, Sathya Sai Hospital have made their debut in Nava Raipur.
Nava Raipur is also emerging as a major center in the field of IT. Now industries related to semiconductor, data center sector are also going to be set up here, he said.
Choudhary said that there is a plan to develop Medicity in an area of about 100 acres to provide national and international level medical facilities in Nava Raipur.
It is worth noting that the Chhattisgarh government has also made budget provision to develop Educity in an area of about 100 acres in the budget for the year 2025-26. The country’s third largest international cricket stadium is located here.
In view of the growing development of Nava Raipur, a provision of Rs 40 crore has been made for the upgradation, operation and maintenance of the Integrated Command and Control Center. A provision of Rs 20 crore has been made for the construction of Developed India Iconic Destination, Rs 10 crore for e-bus services, Rs 20 crore for sewerage treatment plant, Rs 37 crore for the establishment of Science City and Rs 20 crore for the construction of a library.
Along with this, a provision has been made for the construction of a commercial office complex at a cost of 156 crores to develop plug and play office space. Space for 2000 IT jobs in CBD Commercial Tower has been allotted to Tele Performance, Square Business, CSM companies.
There is also a budget provision for the establishment of SDM and new Tehsil office in Nava Raipur.
