Immediate objective of the ibam is to create infrastructure for promotion of its educational activities in various fields of arts, commerce & management & such other professional & vocational training & education. For attainment of this objective, ibam, bilaspur is establishing a private university under the name of “ commercial university “ in raipur and consequently the construction of campus of the proposed university is being undertaken.
First phase of campus construction has been completed and presently construction of second phase of costruction is being pursued vigorously with the objective that students can be admitted for the university courses for the Session 2015-16 commencing july, 2015.
Permission has been granted to the ibam to establish a private university under of the chhattisgarh private universities ( establishment and operation ) act, 2005. As per section 4, of the act, private universities in chhattisgarh are required to :
- Have a minimum of 25 acres of land for campus construction.
- Have a duly constructed area of minimum 25,000 sq. Ft. Of covered area for campus of the university.
- Create an endowment fund before such university can be gazetted as private state university by the legislature.
In due compliance of the above requirements, this institute has :
- Already procured over 30 acres of land for the university campus in duly registered in its name
- Already completed construction of about 31,500 sq. Ft. Of covered area in the first phase of campus construction.
- The requisite endowment fund has already been created to be submitted to the state government before the proposed university is gazetted as a university.
Name of university to be established : Commercial university
Location of the university to be established : Motiyari Dih, Teh. Simga, Dt. Raipur
Phased programme of campus construction :
Construction of buildings will be made in phases on continuing basis for the next years.
Total univerisyt campus to be constructed are 65 buildings on an estimated costs of rs. 120 crores
First phase of construction comprising three buildings of 31,500 sq. Ft of covered has already been completed.
Second phase of construction comprising six building and 6,25,000 sq. Ft. Of covered area is further being constructed.
Remaining campus construction will be carried on in phases in the future on continuing basis.