Nava Raipur Atal Nagar Devpt Authority becomes debt-free

RAIPUR, CG (INDIA): Nava Raipur Atal Nagar Development Authority, earlier known as NRDA, has cleared its entire debt of ₹1,788 crore, becoming completely debt-free. Along with this, a ₹100 crore government guarantee has also been returned to the state. The financial turnaround is credited to the policies and governance which focused on transparency, strategic planning, and economic self-reliance.

The Authority had previously taken large loans for major development works, including land acquisition, roads, and buildings for institutions like Hidayatullah National Law University. However, repaying these loans strained its finances. Under the Chhattisgarh Chief Minister Vishnu Deo Sai government's leadership, revenue generation was strengthened, and steps were taken to ease the debt burden.

The Chief Minister expressed satisfaction, saying the achievement not only frees the Authority from debt but also paves the way for faster development and self-sufficiency in Nava Raipur. With properties now unencumbered, they can be used more easily for commercial purposes, which will boost cash flow and support upcoming projects.

Various initiatives have already attracted significant private investment, including plans for Medi-City, a Pharmaceutical Park, a semiconductor plant by Polymatek, and a National Institute of Fashion Technology campus. The government’s third supplementary budget also allocated over ₹1,000 crore to support the Authority and industrial development.

A recent ordinance to settle pending taxes and penalties gave relief to traders, which indirectly boosted the Authority’s income. The success in becoming debt-free has laid a strong foundation for future growth, making it easier to launch new infrastructure and public service projects.

Finance Minister O.P. Choudhary noted that Nava Raipur is now positioned to become Chhattisgarh’s new economic powerhouse. Key institutions like RBI, NABARD, NTPC, and top hospitals have already established themselves here. Upcoming plans include a 100-acre Edu-City, a Medi-City for global-standard healthcare, and several new budget provisions for libraries, sewage treatment, e-buses, and science centres.

A ₹156 crore plug-and-play commercial office complex is also under construction, with companies like Teleperformance and Square Business expected to create 2,000 IT jobs. A new tehsil and SDM office is also planned, making Nava Raipur a future-ready city and a national model for urban development.