Fadnavis took the decision at a review meeting of MIHAN project here.
He said while 37 acre of land would be given for Nagpur metro project, the rest 200 acres for setting up the premier institute.
He also issued directives to set up educational institutions in MIHAN which he said would benefit children of the project affected people.
MIHAN is the biggest economical development project currently underway in the country in terms of investments. The project aims to exploit the central location of Nagpur and convert the present airport into a major cargo hub with integrated road and rail connectivity.