Setting New Urban Standards: Nava Raipur Atal Nagar, India’s First Debt-Free Planned City”

RAIPUR:
Nava Raipur, the new hi-tech capital region of Chhattisgarh, has reportedly become the first fully debt-free city in the country.

The Naya Raipur Development Authority (NRDA), an independent nodal agency established in 2006 with the mandate of building a smart city, has successfully cleared its entire outstanding debt of ₹1,788 crore, borrowed from the Centre and nationalised banks.

Located around 20 km from the old Raipur city, Nava Raipur has been meticulously designed from scratch, with phased developments underway as the state government works to realise Prime Minister Narendra Modi’s vision of ‘Developed India @2047’.

Officials credited the achievement to the state’s financial prudence, transparent administration, and policy-driven governance.

“This significant milestone is set to accelerate the pace of infrastructure development and implementation of new projects in this modern and carefully planned capital city of Chhattisgarh,” said Chief Minister Vishnu Deo Sai.

The NRDA had earlier availed substantial loans, primarily for land acquisition, construction of roads, government offices, and institutional facilities. However, servicing the debt and the associated interest payments had placed pressure on the Authority’s cash flow.

“With financial discipline, strategic planning, and transparency, we have not only achieved debt freedom for the Authority but also paved the way for self-sufficiency and greater heights of development,” the Chief Minister added.

The government is committed to transforming Nava Raipur into a world-class, employment-centric city, with significant private sector investments on the horizon.

Through the third supplementary budget for 2024–25, the state government allocated ₹1,043 crore to the Nava Raipur Atal Nagar Development Authority (earlier known as NRDA), along with additional funds for industrial areas, further boosting revenue generation.

Now debt-free, all properties under the Authority are unencumbered, facilitating smoother transactions and commercial activities. This will fast-track infrastructure projects, enhance public services, and support new initiatives such as medical tourism, textile industries, and the development of Nava Raipur as a major hub for the modern IT sector.

Poised to become the new growth engine of Chhattisgarh’s economy, Nava Raipur is already home to India’s third-largest international cricket stadium.